Hackers hit traders in Old Delhi, demand Bitcoin as ransom

Three of traders in Old Delhi were hacked.

Hackers encrypted important files in their system and demanded the ransom in Bitcoins.

They claimed once they receive the Ransom as Bitcoin, only then will they release the encrypted data important to their business.

Three FIRs relating to the demand of Ransom as Bitcoin in return for encrypted data have been registered by Delhi police so far, but it is highly speculated that the numbers are far more than three as many were not reported to the police.

Traders were provided a link by hackers where they would buy bitcoin, with a severe warning that if they don't follow the given order, their data will be permanently deleted.

“Some traders paid in Bitcoins and got their data back. Some deposited the money from abroad. When my data was hacked, I spoke to fellow traders and learnt that there were other such cases. I wrote to the hackers and they agreed to decrypt the files for $1,750 (around Rs 1.11 lakh),” said Mohan Goyal, one of the victims who is joint secretary of the Delhi Steel Tools and Hardware Traders Association.

Ransomware attacks are very rare in India. Traders in this attack were provided with 5 of their files completely free and others only after the Ransom.

Bitcoins are gaining in popularity as a digital payment mode but are yet to be legal tender in India. The Union finance ministry recently warned investors trading in the cryptocurrency and compared it with ponzi schemes.