Another attack made possible by cryptocurrencies.
Illinois college, hit by ransomware attack, to shut down
71–80 of 89 posts
Re: Illinois college, hit by ransomware attack, to shut down
#72would be so easy for some random billionaire to cut them a check
Would be so easy for the US government to turn community colleges into 4 year colleges and make them part of them part of the basic curriculum, should students want to continue their education for free, while allowing private universities to remain just like private primary schools. Our population shouldn't have to rely on the whims of billionaires while our government wastes billions on no-bid contracts, ridiculous…
No that totally makes sense. It would be a small fraction of the defense budget. And having an educated and informed populace is just what we need to remain competitive globally.
Re: Illinois college, hit by ransomware attack, to shut down
#73Hey, I actually have experience with that school! I did some consulting with them about a decade ago. The ransomware attack certainly didn't help, but it is wildly misleading to say, or even imply that caused them to shut down. The actual reasons: (a) They filled a niche that didn't need to be filled anymore. They used to absorb students from other local universities (ISU, UIS, UIUC). Those schools have realized the…
I totally buy that it wasn't the only reason but it is a possibility that an already fragile institution would be brought down by such an attack, if not this one then some other one. Some constructs are on the edge and kicking them may cause them to collapse. It probably will only change the timing but it is still the kick that is the first order cause of the collapse. Plenty of institutions are being hit with a perf…
It was likely the final straw, but certainly if that is all it took for the institution to collapse they were going to fail soon regardless.
A college or three have failed every year for the past 5 years or so. There will be more until populations of college age students starts to grow again. Most small colleges are extremely vulnerable.
Size and endowments offers some protection to large and wealthy schools.
Re: Illinois college, hit by ransomware attack, to shut down
#74Earlier quoted context omitted.
Large purchase, most customers choose one and leave the market, many possible consumers, seasonal. Residential solar or real estate agents? The crazy thing to me about higher ed is that there's large loans and everybody qualifies. We'd probably get a better skills/job match by including the major in interest rate calculations.
> We'd probably get a better skills/job match by including the major in interest rate calculations. This brings up the hairy issue that all education should not be focused on eventual income generation. We still need our English, History, and other majors out there in the real world even if we don't expect them to make a great ROI on their degrees. Their contributions to society are still worthwhile. I think a policy…
> We still need our English, History, and other majors out there in the real world even if we don't expect them to make a great ROI on their degrees.
I agree, but getting them from an expensive private school is a luxury.
> I think my approach to change the system would be to put a cap on the maximum loan that the government will back, and have that cap be influenced by major. This would be similar to the conventional loan situation for mortgages.
Some kind of cap is a really good idea. Especially if that means state schools are covered, but not the entire 80k/year of a private one.
The way student loans are difficult to discharge in bankruptcy means a lot of kids make a mistake they'll spend the rest of their life trying to get away from.
Re: Illinois college, hit by ransomware attack, to shut down
#75Nations should lessen the penalties for white-hat and even grey-hat hackers who report their findings. They should have strong protections; they are helping all of society and national security. Instead, we have politicians and executives who make legal threats to cover their mistakes and everyone suffers for it. I have this view because I have personally walked away from security problems I've discovered simply by p…
> Nations should lessen the penalties for white-hat and even grey-hat hackers who report their findings. you mean increase the rewards?
No, I mean they need stronger protections. Knowing that I would probably prevail and get justice after spending 10s of thousands of dollars on lawyers was not enough protection for me to speak up about what I saw after pressing F12, and I suspect I'm not the only one who simply chooses to keep quiet and let the world burn. Give me stronger legal protection if you want my help.
Re: Illinois college, hit by ransomware attack, to shut down
#76Hey, I actually have experience with that school! I did some consulting with them about a decade ago. The ransomware attack certainly didn't help, but it is wildly misleading to say, or even imply that caused them to shut down. The actual reasons: (a) They filled a niche that didn't need to be filled anymore. They used to absorb students from other local universities (ISU, UIS, UIUC). Those schools have realized the…
> enrollment management What would be a comparable industry perspective to the way colleges fight over tuition generators (students)? Oil companies fighting over oil fields?
Oil wells last more than 4 years. Most of these colleges have effectively no endowment and not close to enough state funding. Maybe leasing cars or code boot camps?
Re: Illinois college, hit by ransomware attack, to shut down
#77Earlier quoted context omitted.
Don't assume loans are that simple. Everyone assumes they're that simple. They're deadly, it's the compound interest, the intrinsically runaway loan, the situation Hell is based on. It leads to gambling and prostitution for example. All sins.
> It leads to gambling and prostitution for example. That took a wild turn. Does allowing ice fishing on Lake Michigan also lead to prostitution?
I borrowed $10 from a friend for lunch once and within a year I was having to give out handjobs by the waterfront just to pay off the interest.
Re: Illinois college, hit by ransomware attack, to shut down
#78We were looking at "cyber insurance" for our college and found out that we would be disqualified because every network connected device (even those on isolated networks) needs to have 2FA. Well, we have a network connected CNC machine at it has no provision for it. Another institution has the same machine and was denied. They tried every a lot of gyrations but got nowhere. Even a previous security audit would not hel…
> We were looking at "cyber insurance" for our college and found out that we would be disqualified because every network connected device (even those on isolated networks) needs to have 2FA. Well, we have a network connected CNC machine at it has no provision for it.
How enforceable is this? Why could you not just leave that machine out of your inventory?
Re: Illinois college, hit by ransomware attack, to shut down
#79Earlier quoted context omitted.
> It leads to gambling and prostitution for example. That took a wild turn. Does allowing ice fishing on Lake Michigan also lead to prostitution?
I borrowed $10 from a friend for lunch once and within a year I was having to give out handjobs by the waterfront just to pay off the interest.
I believe you. I mean I know you think you're making stupid-sounding shit up, but you are not. There are real loans like that. There's extra steps in between, the loan shark has game. But borrow $10 from the wrong guy and it will get worse. It can absolutely be that slippery.
Re: Illinois college, hit by ransomware attack, to shut down
#80Earlier quoted context omitted.
Of course. If the college was otherwise doing well, they would be able to get a loan to smooth over a rough patch.
Don't assume loans are that simple. Everyone assumes they're that simple. They're deadly, it's the compound interest, the intrinsically runaway loan, the situation Hell is based on. It leads to gambling and prostitution for example. All sins.
I... do not believe the university is particularly likely to fall down that path.