More Chaos: Baltimore City Cryptocurrency Ransomware Attack Paralyzes Real Estate Industry

Zero Hedge | 5/16/2019 | Staff
cyanbyte (Posted by) Level 3
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Last week, we reported the Baltimore City government was paralyzed by cryptocurrency ransomware, which infected computers associated with severs tied to the city's communication network.

A new report from The Baltimore Sun shows the hack has disrupted city servers for the eighth straight day. This time, essential systems required for transacting real estate deals have gone offline, throwing the entire industry across the city into chaos, which means no homes can currently be bought or sold.

Wedsenday - Estate - Transactions - Halt - Title

As of Wedsenday, all real estate transactions have ground to a halt because title insurance companies cannot access city servers to verify properties are free of liens to create a new deed. Those processes have been disrupted by the ransomware attack, according to title insurance companies and real estate agents.

The hack has also affected the city's collection of transfer and property taxes and water bills.

Amy - Caplan - Operations - Manager - Broadview

Amy Caplan, the operations manager at Broadview Title, said servers that hold critical real estate data crashed Friday. Then Monday, title companies began issuing notices telling their agents to stop all transactions in the city.

"It's crippling the entire city for sure," Caplan said. "There's just no resolution. It seems like there's no contingency plan in place for Baltimore city."

Mayor - Bernard - C - Jack - Young

Mayor Bernard C. "Jack" Young told City Council members Monday that the ransomware paralyzed the city's entire real estate industry. Young said officials were "working to minimize any impact on real estate transactions."

On Tuesday, the mayor's spokesperson said officials were attempting to gain access to its servers "to accurately provide an accounting of outstanding liens against properties scheduled for closings."

Experts - Hope - Access - Information - Spokesman

"They're working with outside experts and hope to gain access to the information as quickly as possible," spokesman Lester Davis said in an email.

These outside experts could be special cyber agents from the Baltimore FBI Field Office.

Georgiana - Tyler - President - Greater - Baltimore

Georgiana Tyler, president of the Greater Baltimore Board of...
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