Millions in Damage Caused by Ransomware Attack on Phone Repair and Insurance Company

Royal ransomware in suddenly emerged in early 2023 and significantly escalated cyber threats targeting service providers across Europe. The attack exploited unpatched VPN and remote-desktop gateways and used brute-force and credential-stuffing campaigns to breach perimeter defenses. Once inside, the malware deployed a custom encryption engine that used AES-256 for file encryption and RSA-4096 to protect the symmetric keys, making communication, billing, and contract databases inaccessible. Daily operations completely stopped within hours. Law-enforcement and cybersecurity responders acted quickly, but the company faced protracted downtime and operational losses.