Europe’s largest consumer electronics chain is being targeted in a ransomware attack demanding tens of millions of dollars worth of Bitcoin (BTC).
The attack, which was allegedly initiated by international hacking group Hive on Sunday night, saw fraudsters encrypt all of the company’s data which then prompted a shutdown of its IT systems. The group then demanded $240 million in BTC as ransom in exchange for a file decryptor.
However, the ransom amount was then reportedly reduced to $50 million.
In a statement given to BleepingComputer, Media Markt says,
“The MediaMarktSaturn Retail Group and its national organizations became the target of a cyberattack. The company immediately informed the relevant authorities and is working at full speed to identify the affected systems and repair any damage caused as quickly as possible…
MediaMarktSaturn continues to be available to its customers via all sales channels and is working intensively to ensure that all services will be available again without restriction as soon as possible.”
The cyberattack comes after Hive allegedly targeted Memorial Health System in August, prompting the Federal Bureau of Investigation (FBI) to issue a warning about the ransomware gang.Check Price Action
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/zeber/Vladimir Sazonov