Group of hackers blackmailed three greek banks asking for 700 bitcoins

A group of hackers who had blackmailed the Greek banking system last week have given Greek banks three more days to meet their demands before they go through with their plan, according to Greek media reports.

The team of hackers called Armanda Collective are asking for 700 bitcoins, which is worth around 250,000 euros, from Greek banks, or they will go ahead and compromise the online banking transaction systems in the country, CNN Greece reports.

The blackmail began on Thursday when the group brought down the online banking system of three Greek banks for a few minutes and then demanded a ransom from the banks.

A unit of the National Intelligence Service, the electronic crime unit of the Greek police and the Bank of Greece are investigating the matter.