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Israel: Insurance company demands 50 BTC as ransom for hackers

Bitcoin’s price, on the one hand, proves that the cryptocurrency is a great investment asset, while technological and Sunday advances can be of the wrong kind of mind, especially when Bitcoin has attracted the attention of hackers demanding ransom. It comes after popular insurance company Shirbit was hacked by hackers days earlier.

According to a local report, the hackers demanded a ransom of 50 BTC against the company’s threat to sell all data associated with its customers. The request was made by hackers with a detailed message on Telegram.

The group, identified as Black Shadow, requested that 50 BTC (equivalent to $ 1 million) be sent to a BTC address within 24 hours. The group also talked about doubling the ransom if the company did not pay the amount within the specified period. In fact, the hackers threatened to leak the aforementioned data if the ransom was not paid within the specified time.

Cybersecurity firm Hudson Rock was one of those to share a screenshot of the same on Twitter.

The car insurance company has many public service employees in Israel, and hackers have reportedly managed to get their hands on all its databases.

Company revealed
“Tonight we received a million-dollar ransom demand along with an ultimatum. Along with the blackmail letter, the attackers leaked details about the insurance claims of several of our clients. The team of experts, among other agencies, is investigating the consequences of the message, and at the same time the company is preparing for the resumption of activities in a safe and measured manner. ”

Bitcoin has become a common ransom demand for hackers. Given the level of privacy afforded by the digital entity, it attracts the attention of many notorious groups and raises further doubts among regulators and legislators about its use.

In fact, recently, the Twitter accounts of several well-known figures, including Elon Musk and Barack Obama, were hacked. The ransom demand was made again in Bitcoin, a development that has fueled a wave of panic among Twitter and crypto users.

Although lawsuits may be filed in favor of and against Bitcoin in such a case, regulators who are already cautious about the impact of crypto may need to be more persuasive after such events.

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