The Insurance Information Bureau of India (IIB) fell victim to a ransomware attack on April 2, 2023. The attack left nearly 30 server systems encrypted, rendering the agency’s data inaccessible.

Initially, IIB officials chose to keep the attack under wraps. However, as the severity of the situation became apparent, they eventually filed a complaint with the Cyberabad police. The investigation conducted by the police has identified the hackers responsible for the attack as a group from Russia.

According to a media report, the hackers have demanded a hefty ransom of $250,000 in bitcoins for unlocking the encrypted data.

In a bold move, IIB officials decided not to succumb to the hackers’ demands. Instead, they relied on a backup of their sensitive data, allowing them to maintain their day-to-day operations