In what has been dubbed as the ‘largest ransom ever asked for,’ the notorious REvil ransomware gang is reportedly asking for $50 million from the Taiwanese computer manufacturer, Acer. First reported by Tech Radar, the hacking group is asking the amount to be paid in privacy-enabled Monero (XMR) cryptocurrency to decrypt their computers.

According to cybersecurity specialist company Malwarebytes, this is the largest ransom any operator has ever faced. Ransomware attacks involve hackers infiltrating your systems, encrypting valuable/confidential information, and asking for a fee to decrypt the systems.

If the reports are true, the hackers seem to have attacked the company’s back-office systems and not the production line. As of the time of writing, no spokesperson has released any comments from Acer. We will update you on this story as it develops.

The REvil group usually records and keeps the demand letters sent to their victims, especially those that do not cooperate. While the Acer documents are yet to be put up, the hackers blasted the Acer representative who was in touch with them as an “incompetent negotiator.” They asked to be linked with the management or a supervisor in their negotiation.

Monero is gradually becoming the coin of choice for hackers, given its highly private nature. Days before the 2020 U.S. Presidential elections, Donald Trump’s campaign website was hacked with the hackers asking for XRM payments to release the information.

In February this year, KIA Motors hackers asked for $32 million in Bitcoin or Monero in order to decrypt their systems.

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