Florida City Pays $600,000 To Ransomware Gang To Have Its Data Back

The city council for Riviera Beach, Florida, voted this week to pay more than $600,000 to a ransomware gang so city officials could recover data that has been locked and encrypted more than three weeks ago. From a report: The city's decision, as reported by CBS News, came after officials came to the conclusion that there was no other way to recover the city's files. Access to Riviera City data has been locked since May 29, this year, when a Riviera Beach police department employee opened an email and unleashed ransomware on the city's network. The ransomware locked files and shut down all the city's services. Operations have been down ever since, with the exception of 911 services, which were able to continue to operate, although limited. The city's website, email server, billing system, and everything else has been down ever since, with all city communications being done in person, over the telephone, or via posters. The city has been having a hard time recovering from the incident ever since.

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Slack Is Going Public At $16 Billion Value

An anonymous reader quotes a report from NPR: In just five years, Slack has grown to have more than 10 million users and has become a verb in the process. "I'll Slack you" is shorthand for sending a message via the workplace chat platform. On Thursday, the company will take that popularity to the New York Stock Exchange, where its shares will be publicly listed for the first time. At a starting price of $26 per share set Wednesday, Slack Technologies would be worth about $16 billion. Instead of having a conventional initial public offering, Slack will enter into the market as a direct listing, which means the shares will simply be listed on the New York Stock Exchange. Most firms that pass on an IPO are widely known companies that are in good financial shape. Fortune explains what it means to enter into the market as a direct listing: "Unlike an ordinary IPO, a direct listing means the company doesn't issue any new shares and doesn't raise additional capital. It's primarily a way for company insiders to sell some of their holdings to investors, while bypassing the formidable fees and requirements of using an underwriter."

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