Ransomware gang wanted $5.3 million from US city, but they only offered $400,000

Catalin Cimpanu reports:

A ransomware gang tried to extract a ransom payment of an unheard-of sum of $5.3 million from the city of New Bedford, Massachusetts, but the city chose to restore from backups after hackers rejected a smaller counter-offer of only $400,000.

The incident happened in early July, but details were kept under wraps until today when New Bedford Mayor Jon Mitchell held a press conference detailing the city’s efforts in handling the fallout from the ransomware infection.

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