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South Korean Company Nayana to Pay $1 million in Bitcoin After Ransomware Attack

Ransomware has been seeing an increasing amount of interest in the tech world, motivated not only by the increase in number and severity of attacks, but also by the fact that some companies do elect to pay the demands. In this case, Nayana, a South Korean web hosting provider, announced it is in the process of paying a three-tier ransom demand of nearly $1 million worth of Bitcoin. This decision comes following a ransomware infection that encrypted data on customer' servers. The company said 153 Linux servers were affected, servers which stored the information of more than 3,400 customers.

The attackers initially asked for a ransom payment of 550 Bitcoin, which was worth nearly $1.62 million at the time of the request. After negotiating, the final amount came to 397.6 Bitcoin, which amounted to roughly $1 million at the time (Bitcoin is currently at $2744.56, so right now, those 397.6 Bitcoin are worth roughly $1.1 million dollars). The company has already paid two of the three payment tranches, and expects the decryption operation to take up to ten days due to the vast amount of encrypted data. If the data is liberated at all, that is, which can't really be counted upon, now can it?
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Dec 22nd, 2024 14:20 EST change timezone

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