TechFlow news, on May 19, according to Xinhua News Agency, the Shangcheng District People's Court of Hangzhou City, Zhejiang Province recently issued a first-instance ruling on a cryptocurrency ransom case. Four former cybersecurity engineers used Trojan viruses to infiltrate corporate server systems and extorted victimized companies into paying cryptocurrency as "ransom," involving a total amount of over 330,000 RMB.
The court ruling revealed that the criminal gang carried out ransom attacks against three companies in the Hangzhou area at the end of 2023. The systems of affected enterprises, including a medical institution, were encrypted and locked, forcing them to purchase cryptocurrency through third parties to pay the ransom. The four defendants were sentenced to fixed-term imprisonment ranging from three years to seven years and six months.
