Argentina’s leading telecom company is reportedly under a ransomware attack.

Several crypto proponents on Twitter have reported that the largest telecommunications company in Argentina called Telecom has become a victim of a ransomware attack. The attackers are reportedly demanding a $7.5 million ransom to be paid with the privacy coin Monero (XMR). Telecom was founded in 1990 and is currently the leading telecommunications company in Argentina. Ransomware attacks involving crypto have seen a spike over the last few years. However, the services of the telecommunication company remain unaffected.

Crypto analyst report Telecom company attacked by a ransomware.

According to the well-known cryptocurrency analyst and proponent, Alex Kruger, and a few other community members, the telecom company was attacked just recently from an unknown hackers’ group. The information they provided reveals that there are no evident effects on users or the company’s services. Landlines, cell phones, and the Internet remain unaffected as of now. However, the perpetrators have targeted and encrypted multiple Telecom-owned Windows computers that contain sensitive and personal information.

To provide the decryption software, the attackers requested a ransom to be paid in Monero, a popular privacy-centric coin. One of the screenshots provided by twitter user notes that Telecom has until July 21st, 20:23 local time to pay 109,345.35 XMR (worth $7.5 million at those prices). If the telecommunication company fails to transfer the funds within the given timeframe, the amount doubles to 218690.7 XMR ($15 million).

Crypto scams increase amid the ongoing global pandemic.

Crypto scams have seen a spike amid the ongoing global pandemic. Last week, the social media giant experienced a massive security breach where hackers managed to compromise the accounts of influential people. The FBI is currently investigating the twitter hack. Earlier, Singapore reported that numbers of ransomware attacks in the country increased significantly from the last year. As crypto gains mainstream exposure, the numbers of crypto scams also seem to be rising along.