Student Hacker Faces Charges for Massive Data Theft and Ransom Scheme

A college student from Massachusetts, Matthew Lane, aged 19, has admitted to a massive data breach involving two U.S.-based education technology firms. Lane is accused of hacking into the company's networks and unlawfully accessing sensitive data belonging to millions of students and teachers, with the intention of demanding a ransom.

The U.S. attorney's office revealed that Lane sought approximately USD 2.85 million in bitcoin by threatening to expose private information unless his monetary demands were met. He also executed a similar scheme on a telecommunications company, securing a USD 200,000 payment through coercive threats last spring.

Charged with cyber extortion, identity theft, and unauthorized access, Lane's actions have stirred significant fear among parents and school systems nationwide. The case underscores the growing cybersecurity threats faced by organizations in retaining and protecting sensitive data from malevolent actors.

(With inputs from agencies.)