K-Electric, Pakistan’s largest power producer, recently fell prey to crypto hackers and is required to pay millions of dollars worth of Bitcoins to get admittance to its own data.
Subsequent to compromising the billing systems of the electricity producer, the hackers demanded around 3.8 million USD in ransom, which rises to over seven million USD if not paid soon.
It is to be noted that enterprise ransomware attacks have cost companies more than twenty-five million USD this year alone. K-Electric is the prime power producer in Pakistan and the only provider in the city of Karachi. It suffered a ransomware attack this week with hackers demanding over seven million USD in terms of BTC to restore its services, as per cybersecurity site Bleeping Computer.
According to the report, hackers employed a “NetWalker” attack to penetrate the internal systems of the establishment. NetWalker is a virus strain revealed in 2019 that contaminates popular software applications running on Microsoft Windows, including MS Word, Office, and Excel.
The electricity provider provides services to more than two and a half million customers in the nation. The attack was noticed by the company engineers on 7th September. However, the electricity supply in the city was not disturbed.
The Future is Now Media Group have launched a YouTube show called The Future is Now Digest, hosted by Miguel Francis-Santiago. Together […]
April 30, 2020
PRESS RELEASE — 10,000 participants are expected to join CHAIN2020 in Hong Kong on January 15, which aims to become one of […]
December 27, 2019
Colombia has taken a significant step towards regulating the country’s digital asset ecosystem. The government of the nation has permitted a pilot […]
September 28, 2020
Venezuela’s National Superintendency of Crypto Assets and Related Activities (SUNACRIP), has recently issued the first ruling to officially legalize digital asset mining […]
September 28, 2020