Blackbaud Reaches $49.5M Settlement Over 2020 Ransomware Attack Exposing Millions' Data

Cloud software provider Blackbaud reached a $49.5M settlement with 49 U.S. states for a 2020 ransomware attack that exposed sensitive data of millions.

The breach compromised highly sensitive data of over 13,000 Blackbaud customers, including banking info, SSNs, and health records.

Blackbaud paid ransom after being told the stolen data was destroyed, but didn't disclose full breach impact.

The settlement requires Blackbaud to implement security measures like encryption, monitoring, and penetration testing.

Blackbaud will pay $3M to the SEC to settle charges it failed to properly disclose the breach's full scope.