Hackers Demand $70M Ransomware Payment From Software Provider

Businesses and governments around the world are scrambling to understand yet another major ransomware attack that hit over the weekend, which could potentially cost tens of millions of dollars and affect more than 1,000 other companies.

Hackers hit a range of IT management companies and compromised their corporate clients by targeting a key software vendor called Kaseya.

On Monday, the attackers requested a $70 million payment in bitcoin in exchange for a decryption tool that could help victims recover from the attack.

Kaseya is the latest ransomware victim in a string of attacks that have also hit major fuel supplier Colonial Pipeline and meat processor JBS Foods, prompting worries among researchers, corporate leaders and US officials about cyber risks to physical and digital infrastructure.

Given that the attack hit just before a holiday weekend, the full extent of the damage may not be known until this week. Here’s what we know so far.