VEON, the Dutch telecommunications operator and parent company of Ukrainian mobile operator Kyivstar, disclosed a financial loss of 3.6 billion hryvnias ($95 million) due to a major cyber attack carried out by a Russian hacking group in December, the company said.
The nearly $100 million loss in revenue stems from costs incurred to restore services, replace damaged equipment, or compensate outside consultants and partners. Veon also notes in its financial impact assessment that any additional costs for further remediation measures for the Kyivstar customer are uncertain and cannot be estimated, Ukrinform reported.
On December 12, Ukraine was subjected to a large-scale cyberattack targeting Kyivstar and one of the country's largest banks, Monobank. People across the country reported internet outages as well as problems with air raid warnings.
The Russian hacking group Solntsepek, linked to Russian military intelligence, claimed responsibility for the cyber attack.
Russia has repeatedly been accused of supporting cybercriminal groups in attacks on its rivals. Moscow has deployed its cyber potential against Ukraine as well, including through attacks on state institutions, the defense sector and energy infrastructure.
In the past, the Solntsepek group has carried out hostile actions against Ukraine, which have included the disclosure of personal data of Ukrainian soldiers. /BGNES
