Company Validates Award-W****** Key Discovery Technology Can Be Adapted to Address Growing Global Problem
Nubeva Technologies, a developer of B2B decryption software solutions, announces successful completion of initial testing of a new universal solution for ransomware recovery.
“We are excited to announce we have successfully validated our core-intellectual property, reliable encryption key discovery, can be adapted for the ransomware use case,” said Randy Chou, CEO at Nubeva. “Despite all the cyber defenses, ransomware still is getting through. Organizations have come to accept this as a potential risk to the business, but we think we can shatter the mold and fundamentally tip the scales in this fight.”
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Major ransomware attacks have sharply increased in recent years, with regular headlines of disruptions to every sector, including critical infrastructure, finance, technology, government, and education. It is estimated that there is a ransomware attack every 11 seconds on average, with global ransomware damage losses projected to reach $20 billion this year. With ransomware, malicious software will encrypt files using secret keys, which are then ransomed for large sums of money. Organizations affected can have critical functions halted until the ransom is paid or files are recovered from backups, both of which can take days, weeks, or sometimes months.
Nubeva’s ransomware recovery capability represents a potential root solution born from a progression on the proven and patented Session Key Intercept (SKI) technology. With SKI, Nubeva has perfected the ability to learn and copy encryption keys created and used on computer systems. With copies of keys available, decryption and recovery is straightforward.
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“After extensive research and development, we initially validated the ability to learn ransomware keys several months ago. Now we have completed testing on a representative sample of live, and very sophisticated ransomware,” said Steve Perkins, CMO and Head of Product at Nubeva. “We have proven we can reliably get encryption keys for TLS network traffic, and more recently for Microsoft’s file sharing (SMB). Now, we feel very good that our technology will work for all variants of ransomware.”
Nubeva has begun working with select strategic cybersecurity solution companies and end-user enterprises for testing and validation of the technology and for advice on final product packaging and go-to-market models. The company expects to release initial commercial forms of the solution as early as Q1, 2022.
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