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Los Angeles College Pays Hackers $28,000 Ransom To Get Its Files Back

Los Angeles College Pays Hackers $28,000 Ransom To Get Its Files Back

Jan 10, 2017
Ransomware has turned on to a noxious game of Hackers to get paid effortlessly. Once again the heat was felt by the Los Angeles Valley College (LAVC) when hackers managed to infect its computer network with ransomware and demanded US$28,000 payment in Bitcoins to get back online. The cyber-attack occurred over winter break and caused widespread disruption to online, financial aid, email and voicemail systems, including locking out 1,800 students and staffs from their computers. As the situation was gone out of its hand, the Los Angeles Community College District (LACCD) agreed to pay the ransom demand of $28,000 in Bitcoin to criminals to resume their operations after gaining the decryption keys, the school newspaper, The Valley Star, reports . The cyber criminals gave the college a week to pay the ransom and threatened to delete all the data if they were not paid. Also Read: RansomFree Tool Detects Never-Seen-Before Ransomware Before It Encrypts Your Data Just like mos
This Ransomware Unlocks Your Files For Free If You Read CyberSecurity Articles

This Ransomware Unlocks Your Files For Free If You Read CyberSecurity Articles

Jan 05, 2017
Ransomware has been around for a few years, but in last two years, it has become one of the fastest growing threats to businesses and users across the world, so will be in 2017. Ransomware is a piece of malware that encrypts files on your computer with strong encryption algorithms and then demands a ransom money in Bitcoin to decrypt the data so you can regain access to your encrypted files. We have seen some nastier ransomware infections over the past couple of years. The most interesting one was Popcorn Time that decrypts victims files for free if they pass the infection on to other people. Now, a new strain of ransomware takes the infection to a whole new level of craziness. Dubbed Koolova , the ransomware will restore your encrypted files for free, just like Popcorn Time. The only difference between both the infections is that you don't have to infect others to get free decryption key. Instead, all you have to do is educate yourself about ransomware by reading two
Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Feb 14, 2024Financial Security / Cyber Threats
The landscape of cybersecurity in financial services is undergoing a rapid transformation. Cybercriminals are exploiting advanced technologies and methodologies, making traditional security measures obsolete. The challenges are compounded for community banks that must safeguard sensitive financial data against the same level of sophisticated threats as larger institutions, but often with more limited resources. The FinServ Threat Landscape Recent trends show an alarming increase in sophisticated cyber-attacks. Cybercriminals now deploy advanced techniques like deep fake technology and AI-powered attacks, making it increasingly difficult for banks to differentiate between legitimate and malicious activities. These developments necessitate a shift towards more sophisticated and adaptive cybersecurity measures. Take these industry statistics, for example. Financial firms report 703 cyberattack attempts per week.1 On average, 270 attacks (entailing unauthorized access of data, appl
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