Hacker Extort 116.4 Bitcoin from University of California San Francisco (UCSF)

$1.14 million in Bitcoin paid by the UCSF in ransom to Netwalker.

The University of California San Francisco (UCSF) paid a ransom of $1.14 million in Bitcoin after a ransomware attack earlier this month, reported BBC News.

The Netwalker criminal gang is believed to be behind the hack which was also linked to at least two other ransomware attacks on universities in the past two months. Michigan State University was one of them that was attacked by Netwalker earlier this month, but they refused to pay the hacker.

Hackers demanded $3 million from UCSF but an external specialist negotiator begged them to accept $780,000, citing the coronavirus pandemic to be “financially devastating.”

After a day of negotiations, UCSF came up with the final offer of $1,140,895, and the next day, 116.4 bitcoins were transferred to Netwalker's electronic wallets.

“The data that was encrypted is important to some of the academic work we pursue as a university serving the public good,” said UCSF. As such, they decided to pay a portion of the ransom in exchange for a tool to unlock the encrypted data.

After receiving the decryption software, UCSF is now assisting the FBI with the investigation.

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AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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