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School District ‘Bitcoin Hostage’ Situation Continues

The New Jersey school district whose entire computer network was being “held hostage” for bitcoins and being forced to postpone the PARCC examsis still compromised Tuesday afternoon.

Technicians at the Swedesboro-Woolwich School District, which is home to four elementary schools in Gloucester County, discovered that its entire network was down Saturday morning when they received a ransom message asking for 500 bitcoins — an online currency popular in underground markets. 

While the bitcoin market is volatile and the exchange rate fluctuates greatly, as of Tuesday afternoon, 500 bitcoins is equivalent to about $124,000.