Hackers Set $1M Ransom for Data Stolen From Israeli Insurance Company

A hacker crew calling itself the Black Shadow set a price tag of 50 Bitcoins – or approximately $1 million – as ransom for the data purportedly stolen from the Israeli Shirbit insurance company.

The hackers threatened on Wednesday that the ransom would double every 24 hours, and if it is not paid within three days, the data will be sold to “third parties.”

To give some weight to their ultimatum, the hackers released some of the purported personal data of the company’s clients online.

They also claimed that they were in possession of a trove of documents from the company’s customers.

On Tuesday, Israeli authorities reported that Shirbit’s system had been compromised, and that data had been stolen.

Officials said that credit card details were not part of the data compromised by the hackers.

Black Shadow claimed responsibility for the incident via its Twitter handle, hailing the intrusion as a “huge cyberattack.”