Electronics Retailer MediaMarkt Hit by Ransomware Demand for $50M Bitcoin Payment: Report

Electronics Retailer MediaMarkt Hit by Ransomware Demand for M Bitcoin Payment: Report
MediaMarkt, Europe’s largest electronics retailer, has reportedly been hit by a Hive ransomware attack with demands to pay $50 million in bitcoin.Following the attack on Sunday, the attackers were initially demanding a ransom payment of $240 million, Bleeping Computer reported Monday.A subsequent report by retail news site RetailDetail said the amount had been reduced to $50 million, with payment demanded in bitcoin.The attack by the Hive ransomware group encrypted MediaMarkt’s servers, causing the retailer to shut down its IT systems to prevent further problems. That caused many stores, mainly in the Netherlands, to be unable to accept credit and debit…