https://news.ycombinator.com/item?id=40481808
You could argue in that case it was a gambling site and it will never happen to you because you're not in a high risk category.
The scary thing for me is nowhere in their initial communications did they explain the issue they just demanded $120k upfront (refusing monthly billing).
The CEO who is usually active on HN didn't show up to give their side either, there's no way they couldn't have been aware of a 1044 upvoted post which also went viral elsewhere https://news.ycombinator.com/item?id=40481979