Following the ransomware attack that hit the British Library in October, the organisation has revealed that it will need to spend a considerable chunk of its reserves to recover. Hackers stole hundreds of thousands of files, including customer and personnel data, and published them online after the library refused to pay a ransom of £600,000. The library will now have to shell out between £6m-£7m to rebuild most of its digital services, which will consume about 40% of its £16.4mn in unallocated reserves.
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UPDATE: 080124 - The Register reports British Library has denied the recovery costs are likely to be between £6m-£7m. In a statement, a spokesperson said: "The final costs of recovering from the recent cyber attack are still not confirmed. The British Library and its government sponsor, the Department for Culture, Media and Sport (DCMS), remain in close and regular contact. The Library always maintains its own financial reserve to help address unexpected issues and no bids for additional funding have been made at this stage."
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