Hackers steal company’s data, demand ransom in Bitcoin

The central cyber police in Mumbai have arrested unidentified individuals for hacking into an advertising company’s server in Kurla. According to the authorities, the hackers stole tons of company data and demanded a ransom of about Rs. 4.5 lakh (approximately $5,283) in Bitcoins.

According to the police, the hackers, upon gaining access and stealing the data, threatened to delete the important ones if the company refused to comply with their ransom demands. This move is defined as ransomware, where hackers or malicious entities gain access to a system or important information and threaten to delete it if the victims do not comply with payments. Over the years, there has been a series of ransomware cases, involving even entities with the most sophisticated security.

Hackers demand Bitcoin to return the company’s sensitive data

According to the authorities, the issue came to light on May 3, after the company’s staff started encountering issues while logging into its servers. The police mentioned that after gaining access to the servers using the “forgot password” option, they realized that a lot of data was missing. The company proceeded to hire third-party IT contractors to look into the issue, and it was then that they found a note from the hackers detailing their activities.

According to the police, the hackers left a note in the form of a text file for the company on their server, which stated that they were able to carry out the activity because the company lacked better security measures. They also added that the company would have to pay a big ransom in order to protect their files and not have them damaged beyond repairs.

The text file also mentioned that the hackers would completely damage the stolen data should the company make any attempt to either recover them or delete files on its server. The hackers added that if the company refused to comply with their demands and pay the ransom soon, they would either delete the stolen data or leak it online. Finally, they said it was a one-time deal, adding that they could even go ahead to give the company tips on how to strengthen its security after the ransom is paid.

Police to charge suspects as global crypto-related crimes rise

According to the police, when the advertising agency enlisted the services of a cyber security expert to look into the issue, they submitted a report saying that the hackers had used the Brute Force Attack method to gain access into their server. The cyber security firm mentioned that the hacker used trial and error methods until they were in the company’s servers.

The police mentioned that they received a complaint from 33-year-old Pranay Ramaiyaa, who is a resident of Thane and an employee of the advertising agency. The police have also proceeded to register a case against the unknown suspects, charging them under sections 43 (penalty and compensation for damage to the computer, computer system, etc.), 65 (tampering with computer source documents), and 66 (computer-related offenses) of the Information Technology Act and under sections 308 (extortion) of Bharatiya Nyaya Sanhita.

Meanwhile, this is not the first case of ransom demands related to digital assets over the last few months, with criminal elements now upping their activities, targeting influential entities in the sector. For instance, some months ago, the father of a crypto millionaire was kidnapped, with his son urged to pay ransom in digital assets or else they would kill him. The criminals even went ahead to mutilate the man, using it as a pressure tactic to force his son to pay the ransom.

Another incident that happened recently was that of crypto investor John Woeltz, who kidnapped and tied up a tourist for weeks, forcing him to give up the passwords to his account. The tourist, who coincidentally was a long-time business partner of the suspect, said the assailant inflicted many wounds on him and took pictures of it to either blackmail him into giving up his assets or scare his family into paying a ransom.

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