Ransomware: The New “Protection” Racket

ACADEME BLOG

In an article for the San Diego Union-Tribune, Gary Robbins reports:

“Los Angeles Valley College in Valley Glen said it paid $28,000 in bitcoins to the hackers, who had used malicious software to commandeer a variety of systems, including key computers and emails.

“’It was the assessment of our outside cybersecurity experts that making a payment would offer an extremely high probability of restoring access to the affected systems, while failure to pay would virtually guarantee that data would be lost,’ the college said in a statement last week.

“The college was hit by so-called ransomware, which encrypts computer files. The hackers then send the victims a message offering to undo the damage if a ransom is paid. . . .

“’The key phrase in the L.A. Valley ransomware story is that they had no other choice but to pay since they lacked a back-up (system). Ransomware is not an act of God,’ said Jonathan…

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