You would think a University would have better network security to not get effected by things like this. Sad to see it happen and especially when it drags bitcoin into the light negatively.
If the payment can be made with credit card, how hard is it to track down the operator any why not charge back that payment ?!
Anyway this is a good lesson to start making backups regularly.
I'm sure they have ways of moving the money safely before they're caught.