Ragnar Locker’s ransomware attack on Energias de Portugal (EDP) and its subsequent 1,580 bitcoin, or $11 million, ransom demand indicates the attack was well thought out with the attacker fully understanding it's victim's financial capabilities.

James McQuiggan, security awareness advocate at KnowBe4, told SC Media that Ragnar Locker’s general modus operandi is to charge a ransom of 25 bitcoin per system encrypted so by doing the math about 60 systems are involved in this attack. Even though this is a very high demand, it is believed Ragnar Locker knew it landed a big fish.

“With the current rate of one Bitcoin for about $7,000, it would seem like a very high amount for a consumer or small business trying to pay approximately $175,000 for one system. However, this group knew they got into a large enterprise organization, and whether it could pay or not, a negotiation of one BTC for each system, could still net them about $420,000,” McQuiggan said.

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