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SoLVBL Solutions Inc. (CSE: SOLV) ("SoLVBL" or the "Company") introduces Q, a novel approach to the growing problem of Ransomware attacks. The world seems to be hit by two plagues at the present time, the scourge of the COVID virus and the scourge an ever-growing list of Ransomware attacks. Today it seems that no one is safe. Just think of the recent attacks - the Colonial Pipeline caused gas shortages in the eastern USA; JBS meats which caused their factories to be shut down around the world, causing meat shortages, even the Toronto Humber River hospital was affected causing a code Grey to be enacted and most recently Kaseya, a software company that affected 1500 companies around the world.
If nothing else, the growing list of Ransomware attacks show that only defending the perimeter of your organization is not a sufficient cyber security strategy. Hackers, by various means, have clearly shown they can infiltrate your systems, sit there biding their time, until they are ready to attack you.
In a Ransomware attack the hacker steadily encrypts your key files. This phase of the attack can take anywhere from days to weeks to complete. When a critical mass has been encrypted, the Hacker freezes you out and demands money to decrypt your data. There is an implicit assumption that Ransomware attacks are like "stick ups "of olden times. Your money or your life! Or in this case, your money for your data! However, Hackers sophisticated enough to get inside your systems are also sophisticated enough to manipulate your data to their own ends. Due to the nature of Ransomware attacks, i.e., that the attacker has prolonged and unfettered read/write access to the victim's data, it is feasible and indeed likely that an attacker could use this access to make choice modifications to high-value data on the victim's systems. Such modifications could affect future decision-making, or irreversibly alter the victim's critical records. In this manner, the Ransomware attack itself could be an obfuscation method to hide the attacker's primary goal: the surgical modification of key data records on the victim's systems.
When you pay the ransom, you get your data back or do you? How would you know? How do you know that your data has not been manipulated by the Hackers prior to handing back, either maliciously or for their own ends? The fact is today you DON'T know, and you CAN'T know. You must trust the very people who have hacked you and extorted money from you. Does that sound like a sensible idea? But what if there was a product that could stamp your data and provide you with an immutable record? A product capable of operating at high speed and low latency? A product that never saw your data and was connected to your system via a simple API? Such a product could be configured to detect encryption of your data by hackers and be used to determine the data authenticity of returned data We have developed exactly that product: Q by SoLVBL. Q by SoLVBL "creates trust fast" by immutably sealing your data. This allows you, at any time, to check the authenticity of your data. This feature, if continuously run in the background, would alert you to the encryption of key data by Hackers. Even if the choice to run Q by SoLVBL continuously in the background wasn't made, Q by SoLVBL could be used to authenticate returned data as unaltered and immutable. The use of Q by SoLVBL solves the problem of data authenticity that is not solved today.
Q by SoLVBL was developed to combat digital fraud. In the digital world, one set of one's and zeros are like another set of one's and zeros. How would you know if digital fraud had been committed? By running Q by soLVBL in the background any changes to your data, such as encryption, would mean your data could not be authenticated and you would immediately be alerted those changes were occurring. Alerting you that a possible Ransomware attack had started, and you should react. Likewise, if your key data had been stamped by Q by soLVBL on return of your data you could immediately authenticate whether your key data is the original or a modified version.
Q by SoLVBL makes no pretence about stopping Hackers getting into your system, but it can be arranged to pick up the steady encryption used by hackers prior to a Ransomware demand and just as importantly it can be used to authenticate your data when handed back by the Hackers.
In a recent Ransomware attack in Florida on a Police Agency, cases had to be abandoned as there was no way to demonstrate a digital chain of custody. Had Q by SoLVBL been used the evidence could have been authenticated as unchanged since storing, thus preventing the abandoning of court ready cases.
Don't be caught unprepared, contact Q by SoLVBL to see how this patent pending system can help you protect your data from a ransomware attack.
For Further Information, Contact:
SoLVBL Solutions Inc.
Raymond Pomroy, CEO
First Canadian Place Suite 5700
King Street West
Toronto, Ontario, M5X 1C7
E: Ray.Pomroy@SoLVBL.com
T: 1.833 722 7668
Cautionary Note Regarding Forward-looking Information
The CSE has neither approved nor disapproved the contents of this press release.
NEITHER THE CSE NOR ITS MARKET REGULATOR (AS THAT TERM IS DEFINED IN THE POLICIES OF THE CSE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION: This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the ability of the Company to successfully achieve its business objectives, including, the implementation and success of Q by SoLVBLTM, and expectations for other economic, business and/or competitive, factors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, SoLVBL assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law and may not be offered or sold in the "United States", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
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