South Korean web host pays $1 million to ransomware attackers

A web-hosting provider in South Korea is paying about $1 million in bitcoin to ransomware attackers after more than 3,400 websites were encrypted by malware, SecurityWeek reports. It’s unusual to see a payout that large publicly disclosed—most previous publicized ransom payments are in the tens of thousands of dollars. But an IBM study last year suggested that ransomware payments made by victims looking to unlock files held captive by hackers could be close to a $1 billion-a-year industry worldwide.