CyBIR: Cyber and Privacy Breaches – Insurance and Reinsurance Data Privacy Lawyers: Walker Wilcox & Matousek Law Firm

Category Archives: Ransomeware

Subscribe to Ransomeware RSS Feed

Why Ransomware and Bitcoin Go Together

Posted in Bitcoin, Ransomeware

Continuing from our earlier post, it is no surprise that hackers demand that ransomware be paid in Bitcoin.    Since wallets do not require users to share their identities, Bitcoin is untraceable so long as a hacker keeps his ransom in Bitcoin form.  And since the blockchain only shows amounts and wallet account numbers, there is no way to tell… Continue Reading

Bitcoin: What Is It and Why Do Hackers Love it?

Posted in Bitcoin, Ransomeware

With 2014 coined “the year of the retail breach” and 2015  “the year of the health care breach,” the trend looks to tag 2016 “the year of ransomware.”  In a typical ransomware attack, hackers use software to block access to a computer system until party pays a ransom amount, usually in the form of “Bitcoins.”  But what is a Bitcoin and why… Continue Reading

A Made for Hollywood Horror Story: Los Angeles Hospital Pays Cyber Hackers’ Ransom to Restore Access to Systems

Posted in Bitcoin, Ransomeware

On February 17, Hollywood Presbyterian Medical Center announced that it had paid cyber extortionists a ransom of 40 bitcoins in order to restore control over its systems and administrative functions.  While the number might not seem high at first glance, it equates to roughly $17,000.  The hospital first noticed malware on its system on February 5,… Continue Reading