Ukrainian operator Kyivstar allocated US$90 million to defend against suspected Russian cyberattacks against its network, a move that affected growth said Kyivstar CEO Oleksandr Komarov.
The chief executive told Interfax-Ukraine news agency, before a massive cyberattack “we were moving with an increase of 11% - 12% quarter-on-quarter in 2023. The cyberattack ate up about 3% of annual growth." The chief executive did not detail exactly which financial metric he was referring to.
The cyberattack in December damaged Kyivstar’s networks and cut mobile signal for millions of Ukrainians. The UAH 3.6 billion (US$90.4 million) was allocated to deal with the aftermath of the attack, repairing damages as well as bolstering defences and funding a loyalty programme for customers.
Kyivstar is owned by Amsterdam-based Veon and has 24.3 million mobile subscribers in the country and 1.1 million broadband customers.
The Ukrainian military pinned the attack on a Russian military cyberwarfare software called Sandworm.
