Home Cyber Crime Ransomware gang wanted $40 million in Florida schools cyberattack

Ransomware gang wanted $40 million in Florida schools cyberattack

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Shocked

Fueled by massive funds from victims, ransomware gangs have began to demand ridiculous ransoms from organizations that may not afford to pay them. An instance of it is a not too long ago revealed ransomware assault on the Broward County Public Colleges district the place menace actors demanded a $40,000,000 fee.

In keeping with the Broward County Public Colleges (BCPS) web site, the varsity system is the sixth-largest within the USA, with almost 261,000 college students and roughly 110,000 grownup college students in 241 faculties, facilities, and technical schools, and 92 constitution faculties.

Final month, Florida’s Broward County Public Colleges needed to shut down their IT techniques after struggling what was reported as a cyberattack. Since then, the varsity system has not disclosed any additional data relating to the assault.

As first reported by databreaches.net, this week, a ransomware gang often called Conti has claimed duty for the assault. After negotiations failed, the menace actors revealed alleged screenshots of the ransom negotiation from Broward County Public Colleges’ assault.

These screenshots revealed that the menace actors initially demanded a $40,000,000 ransom from the district, which left the BCPS consultant shocked that the menace actors thought they might afford that a lot cash.

That is illustrated in a snippet of the dialog between a BCPS consultant and the Conti gang, proven under.

Alleged ransomware negotations published by Conti
Alleged ransomware negotiations revealed by Conti

In keeping with the screenshots of the negotiation course of, the ransom was finally lowered to $10 million, but it surely was nonetheless excess of the $500,000 the varsity district was keen to pay. This led to the top of the negotiations and the screenshots being posted.

From the quite a few ransomware negotiations seen by BleepingComputer, ransomware gangs all the time pleasure themselves on researching a sufferer’s funds earlier than setting a ransom quantity. They then attempt to throw this monetary data within the face of the sufferer whereas negotiating.

In addition they have a tendency to begin with excessive ransom quantities, understanding that the negotiation course of will considerably whittle down the last word fee.

Whereas a company sufferer’s monetary data may be gleaned from income experiences, stolen knowledge, and even insurance coverage insurance policies, it seems they failed to know that public faculty techniques within the USA usually function on a good price range.

Moreover, faculties have needed to dip into their money reserves to open faculties below strict well being tips as a result of pandemic, leaving little room for million-dollar ransom funds.

When a public faculty has to take cash away from their price range for an surprising expense, it’s the college students that suffer, and it’s finally the tax payer who bears the price of paying these ransoms.

Whereas ransomware gangs have efficiently extorted public schools and universities up to now, it isn’t almost as frequent as with the enterprise.

The $40 million ransom within the Broward County Public Colleges cyber assault is the second-most largest demand seen up to now. The biggest ransom is from REvil on their attack against Acer, the place the attackers demanded $50 million.



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