Nubeva Announces Successful Decryption of Ragnar Locker Ransomware for Billion-Dollar Company

Adds this success to its portfolio of successful retrievals following attacks by LockBit, Hive, REvil, Conti and further validates Nubeva’s breakthrough technology.

San Jose, CA. – October 5, 2022 - Nubeva Technologies (TSX-V: NBVA, OTCQB: NBVAF) today announced its successful decryption of Ragnar Locker ransomware for a billion-dollar company. Once engaged by the company, Nubeva’s technology recovered 100 percent of all encrypted files and data within 24 hours. Nubeva did so with no ransom payments required. This further validates Nubeva’s tech capabilities and power.

This is the latest in a series of modern ransomware decryptions by Nubeva, whose successful decryptions include attacks by LockBit, Conti, and the newest versions of Hive and REvil.

“Ransomware attacks continue to pose a real threat to the basic functions of governments, critical infrastructure, and everyday businesses,” said Steve Perkins, Nubeva CMO. “This latest decryption further validates and illustrates the power of Nubeva’s ransomware technology, which provides a faster and lower-cost recovery from ransomware attacks–without the need to negotiate or pay for ransoms for keys and descriptors. In short, we can do what most people thought is not possible.”

Nubeva’s technology captures ransomware encryption keys at the moment of attack, enabling victim organizations to decrypt locked files without paying the ransom. Additionally, Nubeva’s software collects vital metadata on the attack to aid in incident response, significantly aiding triage, investigations, and threat removal.

Myth #1: My current cybersecurity plan will stop ransomware.

Truth: Ransomware continues to evade defenses and backup systems

• Ransomware volume and sophistication continues to increase
• No technology is 100% effective
• Human errors exist

Myth #2: Backups and snapshots will be sufficient to recover all data.

Truth: Ransomware threat actors continue to attack, disable, and delete backups with great success. More than 45% of attacked companies—large and small—pay the ransom for data recovery.

Myth #3: Paying the ransom is a quick way to retrieve your data and get back in business.

Truth: Paying the ransom costs your business more in time, data loss, and sets a dangerous precedent.

• Takes Time: Negotiations and payments average 10-15 days and as long as 30 days. Each day adds a significant business and reputation cost to all organizations
• High Data Loss: Victims report and average data loss of 35%
• Precedent-Setting: Statistics show that those who pay have 82% probability of being attacked again in 12 months 

Solution: Nubeva’s technology is the win-win solution.

• Recovers data quickly, easily, and with virtually no loss and without paying ransoms
• Easy to implement and operate
• Innovative, pay-when-you-use-it pricing models
• Nubeva is the best low-barrier, low-cost way to reduce damage from an inevitable ransomware attack

“Before an attack, 78 percent of victims report they felt they had sufficient security, backups, and enough budget. But ransomware continues to evolve. They find, create, and exploit gaps in an organization’s systems. When that occurs—what happens next?” asks Steve Perkins, CMO. “It can have serious consequences. 25 days of average downtime is unacceptable to most organizations. That’s where Nubeva comes in to provide a ransom-less decryption.”

“Nubeva is effective recovery insurance for ransomware attacks,” said Steve Perkins, Nubeva CMO. “We help organizations restore their operations and reverse all damage, and Nubeva does this more quickly, more effectively, and more affordably than paying the ransom to bad actors.”

Nubeva’s software is available to end-user enterprises, managed security service providers, incident responders, and cybersecurity solution manufacturers. More details on Nubeva’s ransomware reversal and retrieval abilities are available here.

About Nubeva Technologies

Nubeva Technologies provides next-generation decryption solutions for faster, lower-cost recovery from ransomware attacks. Its mission is to reduce downtime costs and damages so that businesses never pay ransoms again.

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the cybersecurity industry. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments, and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release, and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws. The Company undertakes no obligation to comment on analyses, expectations, or statements made by third parties regarding the Company, its subsidiaries, their securities, or their respective financial or operating results (as applicable).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

For additional information or to schedule interviews, please contact:

Steve Perkins
Chief Marketing Officer, Nubeva
sperkins@nubeva.com
(714) 261-9948