According to a news story on Saturday, a Dutch institution that was the target of a significant ransomware assault has partially recovered its stolen funds, which have since increased in value by more than double.
A significant cyberattack including ransomware, a sort of malicious software that encrypts important data and can only be unlocked if the victim pays a ransom, was launched against the southern Maastricht University in 2019.
According to the newspaper De Volkskrant, “The hackers had encrypted hundreds of Windows servers and backup systems, prohibiting 25,000 students and staff from accessing scientific material, the library, and mail.”
In Bitcoins, the hackers sought EUR 200,000, or around Rs. 1.6 crore.
According to the newspaper, “after a week, the university decides to give in to the criminal gang’s demand.”
Students were unable to complete their theses or take exams, which contributed to the problem, according to the statement. Personal data was also at danger of being destroyed.
A portion of the ransom payment was tracked by Dutch authorities to a Ukrainian money account. launderer’s
2020 saw the seizure of this man’s account by prosecutors, which included many various cryptocurrencies, including some of the ransom money paid by Maastricht.
According to the newspaper, “the value had climbed from 40,000 euros to half a million euros when, now after more than two years, it was finally able to transport that money to the Netherlands.”
The EUR 500,000 (about Rs. 4.1 crore) will now be returned to Maastricht University.
The money will instead go into a fund to benefit students who are struggling financially, according to Michiel Borgers, head of ICT at Maastricht University.
According to De Volkskrant, the investigation into the hackers who attacked the institution is still underway.
To read our blog on “To escape discovery, ransomware criminals use novel methods,” click here
