Uber Reportedly Paid $100k in Bitcoin to Hackers and Made Them Sign NDA

Car ride sharing service Uber had to use Bitcoin to pay off hackers ransom, and made them sign a confidentiality agreement after shelling out $100,000 worth of BTC.

According to court documents, 2 men pleaded guilty in a US federal court to charges of hacking as well as extorting companies that comprised Uber and LinkedIn. This brought an end to a long legal dispute that involved data breaches.

Using the Amazon Web Services logins owned by Uber, the hackers got entry into sensitive clients’ information. According to the Nextweb, the two hackers then threatened to delete sensitive data belonging to the two if their demand for money was not met. They also stipulated that they wanted to be paid using Bitcoin.

During that time, Uber reached an agreement with the hackers send them $100k worth of Bitcoin. The transaction went through and Uber demanded that the hackers sign a non-disclosure agreement (NDA) barring them from ever utilizing the information or disclosing the matter to the public.

The two hackers Vasile Mereacre and Brandon Glover were indicted late last year for theft of private information belonging to more than 55,000 accounts from LinkedIn’s owned site Lynda.com. In this case, LinkedIn did not pay hackers like Uber.

It is during the court proceedings that it was discovered that the two men were also responsible for the Uber data breach that occurred in 2016 affecting about 57 million users.

Uber had closely guarded the data breach for more than a year until late last year after a new management was installed and discovered the cover-up. It is then that the public became aware of the breach as Uber was trying to protect its reputation.

Due to the cover-up, Uber has since been fined $148 million and will have to undergo privacy audits for the next 20 years. The company was also forced to dismiss its head of security who organized the payments. The security head did not inform the clients that their accounts were not secure.

The Nextweb reports that the two hackers will be sentenced in 2020 and are likely to serve a 5-year jail term and fines of about $250k.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Joseph Kibe
Joseph Kibe
Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

[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


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Kraken Exchange Onboards Swiss Bank InCore to Help Euro Clients Buy Crypto With Fiat

Swiss Bank InCore has just become the first banking institution in the nation to provide banking services to Kraken crypto exchange. The deal, which was...

Bank Of Japan (BoJ) Launches ‘Technical' Study to Experimenting CBDCs

The race to launch a sovereign digital currency is heating up as Japan became the latest country to venture into a central bank digital...

This Top Coin, Being the Worst Performer of 2020, Is A Disappointment to the Crypto Market

The fourth-largest cryptocurrency by market cap is currently trading at $0.176 in green by 1.66%, like the majority of the market. With 8.61% losses In...

Cryptocurrency Payment Processor BitPay Finally Announces Support for SegWit

Bitpay, the crypto payment processing giant, has finally integrated the segregated witness (SegWit) protocol, a second layer scalable solution to make bitcoin processing cheaper....

Crypto Hardware Wallet Ledger: ‘Funds are Safe' After ‘BigSpender' Vulnerability Found

A vulnerability was recently discovered by ZenGo in popular cryptocurrency wallets Ledger, Edge, and BRD. Named BigSpender, the vulnerability could lead to a double-spend...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today