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This company refused to pay off hackers. Here’s what happened next

Hackers continue to use ransomware attacks and extort businesses and organizations making up to $34 million annually.

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However, E-Sports Entertainment Association (ESEA), a company that hosts competitive video game tournaments, refused to pay $100,000 for their stolen data. The hackers contacted the company and threatened they will leak the information or sell it on the black market. ESEA informed the FBI about the attack.

The company investigated the data breach, remedied the problem and told its users to update their passwords.

The ransomware era – Companies pay big money for “kidnapped” data

The hackers released stolen data about its users, including emails, private messages, and phone numbers after the company refused to pay off the ransom.

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According to the LeakedSource, a website that tracks and stores stolen databases, roughly 1.5 million ESEA users have been compromised.

A report by Cisco released in July said that ransomware attacks are rising, with nearly 10,000 people and businesses paying extortion money each month to avoid having their sensitive data released or scrambled. Cisco said that the average ransom is around $300 and that hackers, overall, could make $34 million annually carrying out the attacks.

Alexa Stewart