Argentina’s Telecom company victim of cyber attack, hackers demand $7.5M Monero

The telephone giant in Argentina underwent a cyberattack. Sources announce that it is ransomware attack for $7.4 million Monero.

By · Jul 19, 2020 . 4min read

Photo by Clint Patterson on Unsplash

On 19th July, 2020 Alex Kruger, a crypto analyst and trader disclosed that the Argentina’s major telephone company was prone to cyber hack. The telephone company, Telecom got hacked. It is said that the hackers have demanded for a ransom. Moreover, it is a whopping ransom of $7.5 million in cryptocurrency Monero (XMR).

Alex Kruger tweeted

The hackers have further stated that the ransom amount will be increased to 15 million if the company doesn’t fulfil the demanded obligations within 48 hours. The news caught fire through Whatsapp forwards and Twitter users who seemed to be connected to Argentina’s major telephone giant, Telecom. Hence the tweets started indicating the ransomware attack.

How did it cyber attack happen?

According to ElPeriodista, a local news agency, the company has released an official statement in the form of an image. It explains the recognition of the attack and a series of recommendations to be followed by the employees. Seemingly, this might be a corporate hack more likely to affect the internal management rather the end-users. The services provided by the company in terms of landlines, cell phones and the Internet have no effect with respect to the attack. Hence the service networks are intact.

The attack came into notice as some of the telecom employees had trouble accessing the company’s VPN and databases. They informed that the systems were working poorly. Therefore the help desk came to the rescue. Further, the technical teams recommended the employees not to indulge in the use of any company files and automatically disconnect. It is suspected that the attack might have come through an email attachment. The time to pay up the ransom amount ends on 21st July at 8:23 PM.

The news is still under development.

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