30 Nov '16, 1pm

SFMTA Black Friday Hack Demanded Bitcoin Ransom

What seemed like a Black Friday hack has revealed extortionists demanding bitcoin ransom. Last weekend, San Francisco public transit fare systems began to refuse commuters’ money. The hacker demanded 100 bitcoin from SFMTA to put its payment systems back in place to undo the revenue loss. Also read: Ransomware Fines Could Cost UK Business £122bn San Francisco Municipal Transportation Agency (SFMTA) refused to honor the ransom. Instead, it opened the gates to allow millions of commuters to commute for free to minimize disruption. By the following Monday, SFMTA’s business was back to normal. However, it is still unknown how the system got back up. Damage from the Black Friday Hack SFMTA lost approximately $559,000 in revenue each day of the Black Friday hack. Additionally, the ransom would have cost approximately $73,000. Such attacks are prevalent in this technologically ad...

Full article: https://news.bitcoin.com/sfmta-black-friday-hack-bitcoin-...

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