A ransomware cyberattack occurred at PSU major Oil India Limited (OIL) in Assam. The OIL received a ransom demand of $75,00,000 (over Rs 57 crore) in bitcoin to restore access to its computers.

The public sector undertaking OIL and the government exchequer have incurred a substantial financial loss due to the ransomware cyberattack. The business through the IT system has been seriously affected, OIL Manager (Security) Sachin Kumar said in the police complaint. However, the drilling and production work has been unaffected, the OIL media reported.

• What is Stock Order : Types, Differences & How Order Works
• India’s Business Activity Hits 3-Month High in Nov Amid Rising Costs
• Trudeau to Cut Sales Tax and Send Checks to Canadians Ahead of Election
• Ashwini Vaishnaw Encourages German Companies to Invest in India
• Flipkart Appoints Dan Bartlett to Board

The cyberattack took place on April 10 at OIL’s, one of the workstations of the Geological and Reservoir department, but the IT department intimated it on Tuesday, he said.

“After their preliminary investigation, they noticed that OIL’s network, server, and clients’ PCs are facing network outage.