Cencora Faces Criticism After Paying Rp1.15 Trillion Ransom In Bitcoin Due To Cyber Attack

Cencora faced criticism after paying a ransom of Rp1.15 trillion in bitcoin due to cyber attacks (Photo; Doc. Techcrunch)

JAKARTA - Health care company Cencora was forced to pay a ransom of 75 million US Dollars (approximately IDR 1.15 trillion) in Bitcoin (BTC) to hacker groups. This payment comes after a cyberattack that managed to steal important information from the company's system. This decision sparked reactions from the crypto community and cybersecurity, which questioned the steps of Cencora in dealing with this incident.

A report from Bloomberg reveals that hackers who attacked Cencora received a ransom in Bitcoin in March 2024, although the initial value requested reached 150 million US Dollars (Rp2.2 trillion). The amount, which was finally paid in the amount of 75 million (Rp1.15 trillion), was completed in three stages, with a notification to the affected individuals only in May.

On-chain analyst ZackXBT revealed more details about this ransom payment on social media X (formerly Twitter). He showed that the Bitcoin transactions carried out by Cencora were connected to the Dark Angel ransomware group. ZackXBT also presented transaction data conducted in March 2024:

After details of the transaction were revealed, some crypto users urged to track down hackers' digital wallets and try to recover the funds. Given the transparent nature of the blockchain, they feel tracking of criminals should be possible. However, on the other hand, ransomware groups often use sophisticated money laundering methods to disguise traces of funds.

Some have also criticized Cencora's decision to pay the ransom, suggesting that US$75 million (Rp1.15 trillion) is better used to strengthen the company's cybersecurity, instead of giving up on hackers' demands.

Although the incident that befell Cencora is not a crypto platform scam, the case highlights how digital assets are often used by criminal groups to move money from crime. This phenomenon has received the attention of many global authorities. In fact, recently, the US Commodity Futures Trading Commission (CFTC) announced global cooperation to combat crypto fraud and other related issues.