A large L.A. hospital paid $17,000 (40 bitcoins) after their computer network was held hostage by hackers. The CEO explained that the payment was the most efficient way to end the problem.
The Hollywood Presbyterian Medical Center fell victim to what’s commonly known as “ransomware”, a hacking tactic that is becoming exponentially common. It is unclear how many people/institutions actually pay up. Computer security experts usually recommend not to pay the ransom, whereas law enforcement agencies usually do.
Adam Kujawa, head of Malware Intelligence for Malwarebytes, said that “unfortunately, a lot of companies don’t tell anybody if they had fallen victim to ransomware and especially if they have paid the criminals […] I know from the experiences I hear about from various industry professionals that it’s a pretty common practice to just hand over the cash”.
If someone hacked into your phone and you couldn’t use it anymore unless you handed over a bitcoin/cash transfer, would you pay up? How much is it worth for you?
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