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Cyberattack on Ukraine’s Kyivstar will cost parent Veon almost $100 million in sales

Posted on January 18, 2024 by Dissent

Reuters reports:

Veon, the parent company of Ukraine’s largest mobile operator Kyivstar, will take a hit of around 3.6 billion hryvnias ($95 million) in revenue in 2024 due to a massive cyberattack in December, the Dutch telecoms group estimated on Thursday. The estimated lost revenue is associated with measures Kyivstar has taken to compensate customers for inconveniences caused by the disruptions, Veon said. The cyberattack was the largest since Russia launched its war on Ukraine in February 2022, knocking out services including mobile phone, damaging IT infrastructure in several regions, and putting people at risk of not receiving air raid alerts.

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