Any thoughts on Git ransom campaign incident?

On the evening of May 2 (UTC), GitHub, Gitlab and Bitbucket began responding to reports that user repositories, both public and private, were being wiped and replaced with a single file containing the following ransom note:

To recover your lost data and avoid leaking it: Send us 0.1 Bitcoin (BTC) to our Bitcoin address 1ES14c7qLb5CYhLMUekctxLgc1FV2Ti9DA and contact us by Email at admin@gitsbackup.com with your Git login and a Proof of Payment. If you are unsure if we have your data, contact us and we will send you a proof. Your code is downloaded and backed up on our servers. If we dont receive your payment in the next 10 Days, we will make your code public or use them otherwise.