RATE Group | UK High Court Orders Freeze on $1M of Bitcoin in Ransomware Case
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UK High Court Orders Freeze on $1M of Bitcoin in Ransomware Case

28 Jan UK High Court Orders Freeze on $1M of Bitcoin in Ransomware Case

Posted at 14:09h in Bitcoin News by

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A United Kingdom High Court ordered a proprietary injunction on Bitcoin (BTC) obtained through a ransomware attack on a Canadian insurance company. A proprietary injunction is an order which prevents a person from dealing with their own assets when it is subject of a proprietary claim.

On Jan. 17, the UK High Court released documents concerning a ransomware attack, in which over 1,000 computers of the insurance company were rendered unusable through the use of malware that encrypted files, making them unaccessible. The unidentified attackers demanded $1.2 million in Bitcoin in exchange for decrypting the data.

The firm’s insurer covered the client’s losses from cybercrime and agreed with the hackers to pay $950,000 in Bitcoin to decrypt the files, and received a tool to unlock them 24 hours after making the payment.

Still, the company needed 10 days to restore all of its systems, including 20 servers and 1,000 desktop computers.

Bitfinex asked to hand over account data

The…

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