Subj : A single ransomware attack has pushed this business into insolven
To   : All
From : TechnologyDaily
Date : Mon Aug 04 2025 17:00:07

A single ransomware attack has pushed this business into insolvency

Date:
Mon, 04 Aug 2025 15:46:00 +0000

Description:
A 2023 ransomware attack on Einhaus Group has had the company struggling with 
huge losses ever since.

FULL STORY
======================================================================Einhaus 
Group dwindled from 170 employees and 70 million in revenue to just eight 
workers The German phone company met its fate after months of battle The 
Bitcoin ransom was recovered but never returned 

German mobile phone insurance, repair and logistics company Einhaus Group has 
revealed the financial extent of a 2023 ransomware attack on the company. 

At its peak, Einhaus operated in over 5,000 German retail stores, partnering 
with major telecommunication companies like Deutsche Telekom and 1&1, 
generating units to 70 million in annual revenue. 

Then, in 2023, a ransomware group by the name of 'Royal' infiltrated systems 
and encrypted critical data including contracts, billing, and communications, 
leaving the company battling to make up losses thereafter. Germany's Einhaus 
effectively taken down by one ransomware attack 

The attackers left messages via office printers warning that the company had 
been hacked (via WA ), bringing operations to a halt with systems locked. In 
the months that followed, the company lost millions in revenue and 
operational delays, bringing total damages into the mid-seven-figure range. 

The company also reportedly paid a large 200,000 ransom in Bitcoin to regain 
access to critical data. 

German cybercrime investigators have since identified three suspects, and 
while public prosecutors seized the ransom-paid crypto, it never got returned 
to the Einhaus, which blocked the company from making a fuller recovery. 

Since the ransomware attack, Einhaus has been forced to cut headcount down 
from a peak of around 170 to just eight, selling off property and investments 
to make up some losses. 

Three companies under Einhaus Group, including 24logistics, have now filed 
for insolvency, and mobile phone repair services have been discontinued. 

With cyberattacks not only becoming more common, but often more costly, 
Einhaus Group forms part of a growing list of companies forced to shut down 
as a result of ransomware attacks, including the UK's Knights of Old 
transport company, Stoli USA and Finland's Vastaamo. You might also like 
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protection with the best firewalls



======================================================================
Link to news story:
https://www.techradar.com/pro/security/a-single-ransomware-attack-has-pushed-t
his-business-into-insolvency


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