Bitcoin News, Market Analysis

Another Bitcoin CyberAttack Into The Government’s Data Servers.

According to the government officials of the Ontario beach, all their data was locked for several weeks followed from April 30 as part of a ransomware attack, in which a malicious bug blocked users to access information until an amount required by the hackers is paid.

To release around 11 government servers, the scammers initially demanded a amount of 11 Bitcoins approximately worth to $144,000 USD at this time.

After seven weeks of communicating with the hackers via emails, the administrative officer was able to negotiate the price down for four servers that contained the majority of the town’s data to three Bitcoins, or about $35,000 USD.

As per the chief administrative officer incharge of this case ‘George Vadeboncoeur,’ after seeking expert advice decided to pay the hackers a amount equal to three bitcoins. Further as per a press release he said:

“We would have been into hundreds of thousands of dollars, because we would have had to start from scratch to recreate everything.This seemed like a small price to pay in order to get the data back.”

However the total cost of hack even surpassed $250,000 USD due to the payments made to consultants, experts and the other related productivity costs.

The councillor Sylvia Bray in town hall meeting said:

“It’s very unfortunate when it happens, it’s extra unfortunate when it’s public dollars.The town had to dip into its reserve fund to pay for this deal.”

Since after the hack, there are several precautions that are installed by the administrative officers to prevent this kind of thing repeating in future again. Additional backup servers have also been installed, and the town’s leaders say they’ve developed a better understanding of how to protect their corporate security using latest safeguards against cyberattacks.

Leave a Comment

Your email address will not be published.