Hackers are demanding a “huge sum” of bitcoins from Walt Disney Studios to prevent a stolen copy of an upcoming film from being released, the company’s chief executive said Monday. Walt Disney CEO Bob Iger said the movie studio is refusing to pay and working with federal investigators. Iger did not reveal the name of the film the hackers claim to have obtained, but the latest installment in the Pirates of the Caribbean franchise is due to open Friday, and Cars 3 is slated for release in mid-June. The hackers reportedly threatened to first release a five-minute clip of the film, followed by 20-minute chunks until the ransom is paid. No further details were given on the hacking group behind the ransom scheme. The incident comes just weeks after hackers released the new season of Netflix’s hit series Orange Is the New Black after a ransom was not paid.