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Home Cryptocurrency news Bitcoin

Johannesburg City Infrastructure Locked Down Due to Bitcoin Ransom

Tony Spilotro by Tony Spilotro
1 year ago
in Bitcoin, Cryptocurrency news
Reading Time: 2min read
bitcoin ransomware crypto shutterstock_680075008
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Bitcoin and other cryptocurrencies are often requested by hackers after deploying ransomware on unsuspecting user’s computers due to the layer of pseudo-anonymity they provide.

The leading crypto asset by market cap is once again at the center of a major ransomware attack that’s left the South African city of Johannesburg in a state of lockdown.

Hackers Demand 4 Bitcoin In Johannesburg Ransomware Attack

Bitcoin ransom is becoming a growing threat. The crypto asset itself is not responsible for the actions of hackers, however, it is commonly used for illicit crimes such as money laundering, or in this instance, ransomware. Hackers demand Bitcoin from users after remotely installing malware on the computers of individuals, businesses, or even government entities, as a way to hide their true identities and make tracing any transactions all the more difficult.

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Related Reading | Panera Bread, Porn, & Bitcoin At Center of Alleged Scandal Involving 86-Year-Old Woman

This is exactly the case in the South African city of Johannesburg, where the city is currently locked out of a number of its computer systems after being hit with a ransomware attack.

According to Johannesburg city council member Funzela Ngobeni, hackers were able to gain control over the city’s computer systems last Thursday, with a deadline of this past Monday to cough up a ransom payment of 4 Bitcoin. At today’s prices, this is less than $40,000 in exchange for the city’s infrastructure.

However, as is often the case, government officials refuse to cooperate with the hackers and instead seek alternatives to regain control of critical computer systems.

“The city will not concede to their demands for bitcoins, and we are confident that we will be able to restore systems to full functionality,” Ngobeni said.

Forensic computer experts were able to restore up to 80% of the system functionality thus far. The ransomware attack affected the city’s billing and payments systems and has made it impossible for citizens to pay their utility bills and the like, prompting officials to recommend any payments be made in cash in person at banks while the issue is being investigated.

The city also suffered a ransomware attack this past July, which left a portion of the city without electricity.

Related Reading | Trump Blasts Bitcoin For Illicit Use As NY College Is Hit With $2M Ransomware 

Bitcoin ransom cases have spiked in recent months, ranging from attacks on government systems such as this instance or the recent situation in Baltimore, Maryland, to kidnappings of wealthy individuals.

Bitcoin and other cryptocurrencies are like catnip for criminals, according to a Google security expert, who says that they are drawn to the added anonymity they offer criminals. The illicit use of crypto assets has become a topic of interest for United States government regulators, stemming from the announcement of Facebook’s Libra cryptocurrency.

Featured image from Shutterstock
Tags: bitcoincryptojohannesburgransomransomware
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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