Insurance Commissioner John Garamendi announces his approval of the $9.2 billion proposed acquisitinewser

(NEWSER) – A Hollywood hospital faced with an alarming 21st-century dilemma caved in and paid a $17,000 ransom to hackers holding its computer systems hostage. Hollywood Presbyterian Medical Center CEO Allen Stefanek says hackers infected the private 434-bed hospital's systems with malware and wouldn't restore them until they received 40 bitcoins, the Los Angeles Times reports.

"The malware locks systems by encrypting files and demanding ransom to obtain the decryption key," he says. "The quickest and most efficient way to restore our systems and administrative functions was to pay the ransom and obtain the decryption key. In the best interest of restoring normal operations, we did this."

Read the full story on

Photo: Getty Images