Russian hackers behind huge cyber attack that affected companies worldwide over the weekend, demand $70 million to restore data stolen

Russian hackers suspected to be behind a mass extortion attack that affected hundreds of companies worldwide late on Sunday, July 4, have demanded $70 million to restore the data they are holding ransom.

According to a posting on a dark web site, the cybercrime gang, a Russia-linked group that is counted among the cybercriminal world’s most prolific extortionists, known as REvil are making the outrageous demand to be paid in Bitcoin, knowing they hold data belonging to hundreds of companies worldwide.

REvil’s ransomware attack, which the group executed on Friday, was among the most dramatic hacks they’ve ever carried out 

The cyber gang broke into Kaseya, a Miami-based information technology firm, and used their access to breach some of its clients’ clients, setting off a chain reaction that quickly paralyzed the computers of hundreds of firms worldwide.

To explain how damaging the attack was, Swedish Coop grocery store chain had to close hundreds of stores on Saturday because its cash registers had been knocked offline as a consequence of the attack. 

Agencies or companies affected  included schools, small public-sector bodies, travel and leisure organizations, credit unions and accountants, said Ross McKerchar, chief information security officer at Sophos Group Plc (SOPH.L).