Argentina’s leading Telecom is reported to have fallen victim of ransomware con artists. The faceless hackers requested that the payment which amounts to 15 million USD be made in Monero (XMR).
Telecom Argentina S.A., formerly known as Sociedad Licenciataria Norte S.A., is the largest native telephone corporation for the northern part of Argentina, this includes the city of Buenos Aires. Instituted in 1990, Telecom has turned out to be the major telecommunication company in Argentina.
Report by Alex Kruger, a well-known cryptocurrency expert and enthusiast and some few members of the crypto space, Telecom Argentina, was attacked by an unknown fraudsters’ group in recent times. This inordinate action has been reported by diverse cryptocurrency enthusiasts on Twitter.
According to the report, facts could not be traced to the users or the firm’s services as cell phones, landlines and the internet were not tampered with.
Nevertheless, the attackers have scrambled numerous Telecom-owned Windows devices, containing delicate and individual information.
The anonymous perpetrators made an alarming request of the sum of $7.5 million, in order to produce the decryption software and this huge amount is expected to be paid by the dupes in Monero, the popular privacy coin.
In one of the screenshots discovered, it was stated that Telecom Argentina has up till 20:23 local time on July 21st to pay 7.5 million USD, which is equivalent to 109, 345.35 XMR.
Should the company fail to pay this ransom within the stipulated timeframe; the amount will be increased to 218690.7 XMR, equals, $15 million, doubling the initial amount.
Funny enough, the swindlers gave instructions on the method which Telecom representatives should follow in order to buy the Monero coins.
By implementing ransomware attacks, the perpetrators gain access to information belonging to firms or individuals and they scramble facts which are important to them.
Afterward, they demand that the dupes, make a payoff, and then, they would provide the tools essential for the owners of the account to regain entrée.
Could it be REvil?
Thus far, no one has been able to identify the ugly faces behind the swindling of funds, and no group of con artists have owned up to perpetrating such act.
However, REvil, which is one of the most popular organizations in the field, has been pointed at, as being responsible for the hack. Several points have been proven, which makes REvil the ‘prime suspect’.
At first, the group (REvil), suddenly became popular for indulging in almost the same ransomware attacks.
A typical example is Travelex, the London-based exchange corporation, which in recent times, became a casualty of REvil and was forced to pay the sum of 2.3 million USD in Bitcoin.
Conversely, the second proof appears more glaring. Here, after the Travelex drudge, REvil announced that they will no longer accept deals in Bitcoin, as it makes them suspicious but they’ll start accepting Monero as their ransomware.
REvil declared that the mishmash that exists amid Monero and the unidentified browser could go a long way making an individual’s financial activity out rightly unknown to the law enforcement agencies and the government institutions.
They further said that the obscurity and safety of their ads, is of high importance to them, and as such, they resort to an enforced transition from Bitcoin to Monero.