Cyberattack fallout surfaces in Exela Technologies bankruptcy

Exela Technologies and its DocuData subsidiary attribute part of their financial collapse to an alleged 2022 Hive ransomware attack that led to data exposure, operational outages, substantial remediation costs (including a reported $35M breach mitigation contract), and client lawsuits; court filings and public reporting tie the incident to prolonged remediation into 2024. The piece outlines legal and operational consequences, references an Aflac lawsuit, and offers defensive guidance—such as application allowlisting, ringfencing, segmentation, EDR, and robust backups—to prevent similar ransomware-driven insolvency.