Ransomware Victim Pays Out $1 Million

Ransomware Victim Pays Out $1 Million
A South Korean web-hoster has paid a $1 million ransom to hackers after falling victim to a ransomware attack.

(CCM) — A group of hackers are enjoying a $1 million Bitcoin bonanza after a South Korean web-hosting firm handed over the sum after falling victim a ransomware attack. Nayana agreed to pay the ransom to decrypt data on 153 Linux servers and 3,400 customer websites that were affected by the Erebus ransomware, according to a BBC report. Erebus can infect computers running Microsoft's Windows as well as the open-source Linux operating system, encrypting many different file types.

The hackers first demanded a fee of $4.4 million for the keys to decrypt the data, but Nayana reportedly negotiated the ransom down to $500,000. The hackers then reneged on the deal, doubling the agreed amount to $1 million.

Angela Sasse, director of the UK Research Institute in Science of Cyber-Security (RISCS), told the BBC that it is unusual for a company to admit paying a ransom. She added that going public with an admission may help other companies in the long run. "From the attackers' point of view, they might have preferred that the firm kept quiet. It is such a large ransom that it might spur a lot of companies to look more carefully at their security," she said.

Image: © iStock.