California School District Hit With Crypto Ransomware Attack

The California school district of the Mountain View-Lost Altos district got hit with a crypto-ransomware attack on the servers and phone systems, demanding Bitcoin as a ransom to restore the services as we read in the reports in the cryptocurrency news.

By shutting down the file access on the servers of the California School District, the ransomware created a lot of problems for teachers and administrators and many of the activities in the schools such as exams and presentations have been stopped. All fraudulent activity on district credit cards has taken place as well which is believed to be related to the attack.

It’s still unknown whether sensitive student data has been compromised. The software that was involved known as Sodinoibi, comes from China or Russia and it emerged in 2019, proliferating across the globe. For example, the malware hit London in January especially the Travelex Exchange Company and demanded $6 million in crypto. The Mountain view Los-Altos administration wants help from Kroll which is a cybersecurity company but says that the system will likely be offline when the school starts on Monday again. They also promised to give regular updates on Twitter and Facebook.
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Ransomware is not something new but it seems that the attacks are getting more frequent as its profitability increases as well. The hackers are interested in attacking governments and corporations as these are the institutions that are most likely to pay huge sums to have their networks restored. There was a recent attack on the New Orleans computer system which cost the city $7 million. There’s no question that the increased adoption of cryptocurrency serves as a catalyst for these attacks since they offer anonymous architecture which makes them a perfect payment method for digital ransom.

Resolving the increasing problem will not be an easy task. The entire network can become infected quite quickly if one user opens a malicious email attachment or uses an infected app. This problem is increasing because the institutions tend to have older machines that are not up to date with the latest software. Insurance companies now offer policies to protect against ransomware attacks and New Orleans got one policy which will recoup $3 million of the lost funds.  it’s also worth noting that the issue predates the development of blockchain technology and the overwhelming number of transactions are now legal.