PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Another Major Business Taken Out by Ransomware

By Tim Sloane
July 27, 2020
in Analysts Coverage, Fraud & Security, Fraud Risk and Analytics, Security
0
5
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Ransomware

Garmin is the latest company to have every one of its online assets taken down by ransomware (Garmin Connect, Garmin Dive, Garmin Golf, Garmin Coach, flyGarmin,  vivofit jr., ConnectIQ, Live Track, Strava, Workouts, Third Party Sync). In this case, the culprit was WastedLocker, which is good because WastedLocker hasn’t yet evolved to add the ability to steal data; it can only encrypt it. This means a smart well executed backup strategy can recover the data.

Here’s a brief excerpt on the topic from a TechCrunch article:

Garmin has said little about the incident so far. A banner on its website reads: “We are currently experiencing an outage that affects Garmin.com and Garmin Connect. This outage also affects our call centers, and we are currently unable to receive any calls, emails or online chats. We are working to resolve this issue as quickly as possible and apologize for this inconvenience.” In a brief update on Saturday, Garmin said it had “no indication that this outage has affected your data, including activity, payment or other personal information.”

The two sources, who spoke on the condition of anonymity as they are not authorized to speak to the press, told TechCrunch that Garmin was trying to bring its network back online after the ransomware attack. One of the sources confirmed that the WastedLocker ransomware was to blame for the outage.

One other news outlet appeared to confirm that the outage was caused by WastedLocker.

Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group

5
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: CybercrimeGarminRansomwareSecurity

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    bank chatbot

    When It Comes to Chatbots, Banks Are Falling Behind Fintechs

    February 20, 2026
    embedded payments finance

    How Developers Are Driving the Future of Embedded Payments

    February 19, 2026
    gift card strategy

    The Gift Card Shift: From Convenience to Core Shopping Strategy

    February 18, 2026
    Tina Shirley

    From Cross-Border Payments to Community Banks: The Future of Zelle®

    February 17, 2026
    Startups: Fintechs Data Streaming Technology in Banking, corporates Enriched Data vs Faster Payments

    Fighting Fraud in the Era of Faster Payments

    February 13, 2026
    cross-border payments

    Solving for Fraud in Cross-Border Payments Requires Better Counterparty Verification

    February 12, 2026
    agentic commerce

    Demystifying the Agentic Commerce Enigma

    February 11, 2026
    payment gateways

    How Payment Gateways for Businesses Can Help You Offer Your Customers More Options

    February 10, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result