Could We See Attack Against Larger Companies in the Future?
Following last weeks massive Twitter hack, which saw 130 different major accounts seized by a mysterious group another hack has appeared. Hours ago, Telecom Argentina, one of the largest phone service providers in the country have reported a ransomware attack.
Telecom Argentina & Monero
As reported by El Periodista, an attack on the company has been underway since Wednesday. The employees of Telecom Argentina have reported difficulties accessing the company's VPN and various databases. These databases contained personal information and possibly payment information.
It has been suspected that the attack was orchestrated via suspicious attachments in emails. Employees were instructed to not open any work related files, emails and have even been asked to disconnect from the internet.
The hackers allegedly requested a sum of $7.5 million dollars in the form of Monero (XMR) to be paid by the 21st of June. Should they exceed the deadline the ransom demanded would double to $15 million dollars.
By demanding Monero as opposed to Bitcoin, these hackers could manage to evade detection by authorities. Due to Monero's additional privacy features, the hackers could transfer the funds to a different wallet and then to an exchange without detection.
These sorts of attacks are somewhat common, although the size of the ransom and their major target make this somewhat unusual.
As this is a developing story, we will keep you posted with updates in the future.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado