Copy link
Increase text size
Decrease text size
Link copied

University pays hackers more than a million dollars worth in Bitcoin in ransomware attack

Ransomware attack breaches the system of a university in California.

Image by Gerd Altmann from Pixabay

Tue, 30 Jun 2020, 15:34 pm UTC

A ransomware attack targeted a university in California recently affecting some servers in its School of Medicine. Unfortunately, the affected files proved to be very important as the educational institution gave in to the cybercriminals’ demand of a million-dollar ransom paid in cryptocurrencies.

The UCSF School of Medicine, University of California’s medical school, was targeted by a ransomware attack that eventually affected a limited number of servers, according to Cointelegraph. The UCSF IT staff was able to detect the intrusion and was able to isolate affected areas. Unfortunately, the hackers were able to successfully deploy the ransomware and the servers became inaccessible.

“The data that was encrypted is important to some of the academic work we pursue as a university serving the public good,” the University of California said in a statement. “We, therefore, made the difficult decision to pay some portion of the ransom, approximately $1.14 million, to the individuals behind the malware attack in exchange for a tool to unlock the encrypted data and the return of the data they obtained.”

The attack was launched by the NetWalker group, according to CBS San Francisco. After it was confirmed that the servers were already inaccessible due to ransomware, the university’s administration entered into a covert negotiation with the hacker group.

University officials wanted the ransom amount to be reduced to $780,000. However, the hackers rejected the offer and warned that they will only accept $1.5 million so that “everyone will sleep well.” Eventually, the hackers accepted a final offer made by the university amounting to $1,140,895.

The next day, university staff sent 116.4 Bitcoin (BTC) as the ransom payment. In return, the hackers sent the decryption software which gave the university access to their files.

“While public and private sector entities in the U.S., Europe and Australasia are the most common targets for ransomware groups, entities in other countries are frequently targeted too,” ransomware expert and threat analyst Brett Callow told Cointelegaraph. “And as ransomware attacks are now data breaches, the risks associated with these incidents are greater than ever — both to the targeted organizations and to their customers and business partners.”

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $9,378.91 (+0.93%)
  • Ethereum (ETH) $244.52 (+1.69%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $240.54 (-0.03%)
  • Bitcoin SV (BSV) $187.16 (+0.79%)
  • Bitcoin (BTC) $9,378.91 (+0.93%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.