News.Bitcoin.com reports that the government of Argentina is not going to pay a ransom demand in the amount of $4 million in Bitcoin to hackers. The cyberattack happened on August 27 and involved the immigration systems in the country.
Hackers identified as Netwalker group managed to pull the system out of operation for almost four hours, says the source. That is because the immigration officials shut down their systems to prevent the spread of malware. During this time, it was not possible to cross the border in or out of Argentina.
According to the source, citing Bleeping Computers, hackers demand ransom in Bitcoin so as not to reveal the sensitive information they allegedly obtained in the hack. However, it seems that the government is not planning to pay the ransom. They say that no sensitive information got out.
For Argentina, this cyberattack takes place a bit more than a month after another large cyberattack. The previous hack’s target was the country’s leading telecommunications company. According to Blockchain.News.com, on July 18, there was a hack of Telecom Argentina S.A. In this ransomware attack, hackers demanded $7.5 million ransom in Monero cryptocurrency.
Ransomware attacks are the type of cyberattacks in which hackers take over the electronic systems of their victims and demand payment to return access. Most often criminals ask for cryptocurrency transfer as the payment method.