Not Paying the Ransom [...]

Ransomware is a new trend where hackers encrypt a corporate or public database and demand money for the key to decrypt it. Detroit got hit, and decided to not pay.

At the North American International Cyber Summit, Detroit Mayor Mike Duggan admitted that Detroit’s entire city database was encrypted and held for a ransom of 2,000 bitcoins worth about $800,000. No, Detroit didn’t pay back in April, as the database wasn’t needed by the city, but Duggan described the wake up to ransomware as a “good warning sign for us.” (Link)

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