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  /  cryptocurrency   /  Stealing Education Data and Demanding Crypto Ransom is the New Scam Trend
Stealing Education Data and Demanding Crypto Ransom is the New Scam Trend

Stealing Education Data and Demanding Crypto Ransom is the New Scam Trend

Hackers delete student data from educational institutes in UP, demand US$1 million as a crypto ransom

A group of hackers allegedly stole and deleted student data from KN Modi Foundation educational institute in Uttar Pradesh and demanded US$1 million in crypto to resolve the issue. Police have received a complaint from Sandeep Kumar Yadav on behalf of the foundation, according to SP (Rural Ghaziabad) Iraj Raja. In his complaint, he stated that the hackers stole and deleted all student and staff data from the institute’s computers. Police have filed an FIR against two unknown individuals under Section 507 of the Indian Penal Code (IPC) and relevant sections of the IT Act (criminal intimidation by an anonymous communication).

The foundation’s secretary, Sandeep Kumar Yadav, said that cybercriminals attacked the foundation computer systems between 12.30 a.m and 1 a.m on August 29 and stole the personal data of students, parents, and staff, as well as all bank details and confidential e-files. They encrypted all of the institute’s servers and left a note demanding a million dollars in crypto within a month. They also warned the institute to not use any middlemen in any dealings with the accused. The KN Modi Educational Foundation operates eight colleges and one school, including engineering and medical schools. Police have received a complaint from Sandeep Kumar Yadav on behalf of the foundation.

The cryptocurrency market ended a nearly week-long rally above resistance levels as the dollar strengthened, sending global equity and currency markets lower. Ether (ETH) and Cardano’s ADA have both dropped nearly 9% in the last 24 hours, giving up a week’s worth of gains to become the major cryptocurrency decliners. Despite the activation of the Bellatrix upgrade – the Ethereum network’s final “hard fork” before the Merge- Ether fell.