Kyivstar of Ukraine has set aside $90 million to address the impact of the cyberattack

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Kyivstar of Ukraine has set aside $90 million to address the impact of the cyberattack
Kyivstar of Ukraine has set aside $90 million to address the impact of the cyberattack

Kyivstar, the country’s top mobile operator, declared that it had hit its limit on development and had allocated $90 million to deal with a potential Russian hack on its networks.

The leading mobile provider in Ukraine, Kyivstar, announced that it had reached its development limit and had set aside $90 million to address a possible Russian hack on its networks.

The attack, which damaged infrastructure and interfered with millions of Ukrainians’ mobile phone signals, was reported by the company’s CEO as the largest cyberattack on telecom infrastructure worldwide. It happened to Kyivstar in December.

Prior to the cyberattack, in 2023, we were increasing by 11% to 12% per quarter. About 3% of yearly growth was lost due to the cyberattack, CEO Oleksandr Komarov stated.

He didn’t elaborate on the specific area of expansion that was being discussed. According to Komarov, the cell provider set aside 3.6 billion hryvnia, or $90.76 million, to handle the attack’s consequences.

It went into upgrading the system, establishing a client loyalty program, and repairing damage.

Owned by Veon (VON.AS), an Amsterdam-listed mobile telecoms provider, Kyivstar has over 1.1 million home internet users in addition to 24.3 million mobile subscribers.

He didn’t elaborate on the specific area of expansion that was being discussed. A request for comment was not immediately answered by Kyivstar.

According to Komarov, the cell provider set aside 3.6 billion hryvnia, or $90.76 million, to handle the attack’s consequences.

It went into upgrading the system, establishing a client loyalty program, and repairing damage.

Owned by Veon (VON.AS), an Amsterdam-listed mobile telecoms provider, Kyivstar has over 1.1 million home internet users in addition to 24.3 million mobile subscribers.

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