Matthew Lane, a 19-year-old student, has pleaded guilty to several charges related to cyber extortion. He attempted to extort $200,000 in Bitcoin from a telecommunications company using stolen data threats and later targeted a software company by accessing personal data of over 70 million individuals. Lane's actions included threatening to leak sensitive information unless a ransom of approximately $2.85 million in Bitcoin was paid, exemplifying a significant cybercrime trend that poses serious risks to businesses and data security.
Cyber extortion is a serious attack on our economy and on all of us. The alleged ransoms that this defendant and others like him demand hurt victim companies and their innocent customers whose data the companies are entrusted to hold.
Lane conspired with others to extort $200,000 in Bitcoin from a telecommunications company by threatening to publicly release previously stolen data.
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