If an exploit is found in the software, hackers will often be able to attack hundreds of separate institutional installations in an automated way just as easily. And depending on the exploit, potentially more easily if on-prem admins fail to take all recommended security steps.

I'm actually much more interested if there is any financial liability for Instructure here? It's interesting that it's the universities being ransomed, while the technical failure was Instructure's. We're used to uptime SLA's -- what about security breach SLA's?