University of California Falls Prey to $1.15M Crypto Ransom Scam

University of California Falls Prey to $1.15M Crypto Ransom Scam


It’s no secret that the crypto industry is rife with scams, hacks, and other nefarious activities, with the decentralized and private nature of many digital assets being conducive to these types of undertakings.

The latest group to fall victim to one of these scams is a school within the University of California system, who paid an online gang $1.14 million to gain access to files that were encrypted due to malware that spread throughout their computer system.

UC San Francisco Pays Cyber Gang $1.15 Million in Crypto 

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According to a recent report from BBC – who followed the conversation between the two parties thanks to an anonymous source – the Netwalker criminal gang extorted over $1 million in Bitcoin from the University of California, San Francisco (UCSF) earlier this month.

Shortly after the malware had infected the university’s computer system, the IT department was directed to a page on the dark web the resembled a standard customer service page.

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