Digital Assets: $7.5M Ransomware Attack on Telecom Argentina

Telecom Argentina has to pay up $7.5 million by [23:48] on July 21.
Hackers are becoming more aggressive and demanding larger ransoms for freeing up hijacked computer resources. The latest entity to fall prey to these machinations is Telecom S.A., Argentina’s largest telecommunications company. (Crypto News)
Ransom to be paid in Monero
The hackers have taken over control of Telecom Argentina’s Office365 and OneDrive files. Other areas hacked include the corporate VPN, Citrix, Siebel, Genesys, the Customer and Field Service virtual machines, and internal users’ PCs.
The attack commenced last Wednesday, around the time employees started getting locked out of the VPN and various corporate databases.
The hackers, a group known as Gold Southfield, used the infamous software known as REvil Ransomware to attack Telecom Argentina. It probably infiltrated the company’s systems via an email attachment.
If Telecom Argentina does not pay up the $7.5 million ransom by July 21, the amount will double.
Other recent ransomware attacks
DailyAlts wrote last month about REvil Ransomware and its use in the hack attack on Australian brewery Lion. The criminals demanded a ransom of $800,000 from the company.
Last month, the University of California San Francisco paid $1.14 million to hackers who installed ransomware and encrypted its servers. The hacker attack, which the University described as a “security incident,” took place in the UCSF School of Medicine’s IT environment on June 1.
However, the most high-profile hacking incident took place last week when criminals hijacked the accounts of prominent Twitter personalities and sent out tweets in their name. They promised to pay back 2X the amount of bitcoin deposited to a certain wallet.
The bad actors made off with an estimated $1,20,000 before Twitter (NYSE: TWTR) wrested back control.
Related Story: Aussie Beer Manufacturer Lion on the Hook for $800K in Ransomware Demand

Latest Alternative Investment News

Digital Assets: Ledger, Maker Of Crypto Security Hardware, Raises Nearly All Of $100M Series C Round
Paris-based startup Ledger, which makes hardware wallets for cryptocurrency investors, has raised €100m ($109m) in funding, valuing the company at €1.3bn. The round was led by investors including Digital Finance…

FinTech: Cogo And Eliq Partner To Help Banking Customers Enhance The Energy Efficiency Of Their Homes
Cogo, a fintech which collaborates with banks to assist customers in decreasing their carbon footprint as a carbon footprint management firm, is partnering with Eliq, a company that specializes in…

Venture Capital: The LSP Dementia Fund Closes €260M (US$283M) To Address Dementia, One Of The Most Significant Health Crises Of Our Era
The LSP Dementia Fund has reached a final close at €260 million (US$ 283 million), surpassing its initial target of €100 million. The fund, which is managed by EQT Life…

Artificial Intelligence: The DAGGER AI Model Gives Advance Warning Of Dangerous Solar Storms
Researchers have developed an AI-based model that combines satellite data and machine learning to predict where an impending solar storm will strike on Earth, offering 30 minutes of advance warning….