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The Technion, a research institute in Israel, has been targeted by a ransomware attack by the group "DarkBit."
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The attackers are demanding 80 Bitcoin, equivalent to $1.74 million, to be paid within 48 hours, with the threat of a 30% increase in the ransom after that time.
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After 5 days, the attackers are threatening to put the stolen data up for sale.
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Exams at the Technion were initially taking place as usual, but were later cancelled for the 13th and 14th.
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The students were asked to disconnect their personal computers from the network and reduce email traffic until further notice.
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The group "DarkBit" appears to have a personal grudge against Technion, suggesting they may be former employees who were fired or blame Technion for their professional failures.
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The group's motivation is not clear, and their claims may be false or a cover for state-sponsored action.
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The group has a reputation for being unknown, with no publicly known history of keeping their word to provide a key if the ransom is paid.
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The ransom note includes a warning to Technion not to try to decrypt the files without the key.
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The situation is still developing, and more information may become available.