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Earlier today, sources have confirmed that ‘REvil’ (A Russian Group) demanded $70 million in bitcoin in return for the infected machines. A network of almost 200 U.S. companies brought to their knees as Ransomware hacking group REvil demanded bitcoin in exchange.

As per reports published by Australia’s ABC News, back on Saturday: The Russian outlet REvil spread the news that they asked for Ransome, via the cloud, manufactured by software development company Kaseya.

Reports have claimed that over 1 million machines were infected, in an attack on [managed service providers], from the dark website “Happy Blog” reads.  REvil exploited the situation as the brand has offered a decrypter for treating these infected machines while eyeing huge sums in return.

REvil’s involvement in these sorts of matters is not new. Back in May, REvil planned an attack on Colonial Pipeline. As a result, the Colonial Pipeline Company was forced to pay $5M as ransom by restricting the efficiency and function of their system. This incident fueled a gas crisis in the US. REvil has a history of filing ransoms against top business organizations.

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In May, JBS Holdings, one of the world’s largest meat suppliers by sales, agreed-upon paying an amount of $11M as ransom, in an attack against their database.

As per the latest insights and industry pundits: Bitcoin and other cryptocurrencies will enjoy a couple of stable months included July.  By the end of June, the bitcoin price increased from $30,000 on the weekend to above $36,000 on Wednesday. This uprising in the prices has stabled overall cryptocurrencies prices in the market.

While keeping an eye on the trend, it is nearly impossible for those 200 U.S. firms to pay $70M in Bitcoin. As predicted by experts biggest unlocks are going to happen over the next couple of months. REvil will only increase pressure more and more on this network of firms to get the maximum benefit from the situation.

Given the fact that the crypto market will go up after experiencing two or three months of stability. It is quite encouraging for the majority of hackers including REvil to replicate this sort of situation in the future for more crypto gains.

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Lucas Williams

By Lucas Williams

Lucas Williams is a talented writer and storyteller with a passion for bringing words to life. He is known for his vivid imagination, attention to detail, and ability to craft compelling narratives that captivate his audience.