Bitcoin

Monroe College under ransomware attack; hackers demanding $2M

July 12, 2019, 3:45PM EDT

New York City's Monroe College is currently under a ransomware attack, Bleeping Computer writes. the college’s campus computer systems are down and the college’s website shows a 504 error.

The ransomware attack began on Wednesday at 6:45 AM. While the type of ransomware is not yet known, it is believed to be likely to be Ryuk, IEncrypt, or Sodinokibi, which hackers favour when attacking enterprise networks.

To decrypt the network, the attackers have demanded 170 bitcoins (approximately $2 million dollars). It is not yet known whether the college is planning to pay the ransom.

“The good news is that the college was founded in 1933, so we know how to teach and educate without these tools,” Monroe College spokesperson Jackie Ruegger said. She indicated the college is working on finding a solution for students who are taking online classes so that they could still do their assignments.

According to the Coveware research, ransom demands increased by nearly 90 per cent in the first quarter of this year, with most attackers demanding ransom in bitcoin. 

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