Los Angeles Valley College (LAVC) is surely glad it had cybersecurity insurance as it was hit with ransomware on New Year’s Eve. It’s unclear how much of the $28,000 ransom will be recovered via insurance, but the college made the decision to pay.
A ransom note, left on one of the college’s servers, read:
You have 7 days to send us the BitCoin after 7 days we will remove your private keys and it’s impossible to recover your files
According to the college newspaper Valley Star, the ransom note also included step-by-step directions for how to purchase bitcoins and make the extortion payment, as well as a demo to test the decryption process. “Check our site, you can upload two encrypted files and we will decrypt your files as demo.”