An Israeli company reportedly paid $ 250,000 in bitcoins to pay ransom to attackers who threatened to shut down their systems after the attack.

According to a source quoted by Calcalist on June 14, Sapiens International Corp.V, a software company listed on the Nasdaq and Tel Aviv stock exchanges, did not inform US or Israeli equity regulators of the decision.

A ransom attack happened somewhere between March and April, when a COVID-19 outbreak broke out across the world, prompting most of the company’s employees to switch to remote work.

Alleged security breach at an early stage COVID-19
Sapiens employs around 2,500 people worldwide, including 900 in Israel. Although there were no details about the ransomware gang, hackers could take advantage of security vulnerabilities discovered during the transition to remote work.

The company has not officially announced the attack, failing to confirm or refuse to pay ransom in bitcoins (BTC), reported by Israeli media.

Most of Sapien’s customer base is in the US and Europe, and the secondary markets are in South Africa, Asia and the Pacific.

Pay Sapiens above average redemption
The article underlines that this figure is high due to an attack on ransomware, considering that the online war report states that in 2019, the average demand for ransom in 2019 was $ 40,000, and the average attack lasted 12 days.

In early June, Cointelegraph announced that the NetWalker Ransomware gang had attacked the University of Michigan or Moscow State University. At that time, the gang threatened to leak student records and financial documents. But university officials said they would not pay the ransom.