Cencora Pays $75 Million in Ransom in Response to Hacks

According to Bloomberg, Cencora paid a $75 million ransom in three installments in March using Bitcoin. The initial ransom demand was for $150 million.Cencora discovered the data theft in February and cited costs associated with the cybersecurity incident in its July quarterly report.Cencora has a market capitalization of about $46 billion and had revenue of $262 billion last year. The company said the incident would not have a material impact on financial condition or operations. Despite the ransom payment, there is no guarantee that the hackers won't publicize the stolen data.