Hackers threaten to take down websites of Hong Kong banks unless they pay bitcoin ransoms

City's financial institutions are falling prey to cybercriminals who threaten to disable servers unless they pay up in bitcoins, experts say

The cryptocurrency bitcoin still feels too remote and complex for most laymen, and has been blasted for abetting money launderers. While its location can be detected online, those who own it can remain anonymous. Photo: Reuters

Hackers have targeted banking institutions in Hong Kong with server-disabling attacks, threatening to take down their services unless they receive ransom payments, experts said on Thursday.

According to web security and performance firm Akamai, a group of cybercriminals known as DD4BC have been targeting websites in Asia and around the world with more than 100 distributed denial-of-service (DDoS) attacks since at least September 2014.

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