Ethereum
Hacker gang known for using Bitcoin, Ethereum for ransom brings Indonesia to a standstill: report
In a major security breach, Indonesia has been hit by its worst cyberattack in years. The attack, which affected more than 40 government entities, was allegedly carried out by the notorious ransomware gang, Lock bit.
What happened:The attack disrupted immigration services and affected operations at major Indonesian airports for several days, according to a Reuters report on Wednesday. No fewer than 44 government agencies, including key ministries, were victims of this cyberattack.
Five agencies, including the Immigration Services and the Investment Coordination Ministry, have had their data restored, and efforts are underway to restore data in 39 other agencies, a government official informed.
At a joint press conference with the ministry, the state-owned telecommunications giant Telkom Group assured Indonesians that their data was secure.
The Communications Ministry revealed earlier this week that the attacker used LockBit 3.0 malware and demanded an $8 million ransom, which the government refused.
Why is this important?:LockBit, responsible for 28% of known ransomware attacks, operates as a “ransomware as a service” business model, selling its malware to affiliated companies.
Ransomware attacks prevent victims from accessing their computers and networks unless they pay a price, usually in Bitcoin BTC/USD and Ethereum ETH/USD.
During a joint operation earlier this year involving US and British law enforcement, two Russian nationals were indicted for their role in deploying the malwareand a total of 10 cryptocurrency addresses controlled by the two were blacklisted. Of these 10 addresses, 9 belonged to Bitcoin and one to Ethereum.
Read next: Congressman Matt Gaetz introduces bill to allow federal taxes to be paid in Bitcoin
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.