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Solicitors are today being asked to play their part in keeping the UK safe online by helping to tackle the rise in organisations paying out to ransomware criminals. The National Cyber Security Centre (NCSC) and Information Commissioner’s Office (ICO)
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"These malign actors almost exclusively demand cryptocurrencies when extorting large sums of money, because they can take steps to obscure their transactions and circumvent regulatory scrutiny, making payments more difficult to trace," said Senator Gary Peters (D-Mich.), chairman of the Senate Homeland Security Committee. Original Source
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The infamous Conti ring’s internal messages, leaked in February, served as a jumping-off point for a new transaction analysis by Crystal Blockchain. Original Source
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A new report by blockchain analytics firm CipherTrace highlights the growing role that privacy-focused cryptocurrencies such as Monero are playing in the rising tide of ransomware.“Current Trends in Ransomware” delves into trends observed during 2021 but was only released this week. The firm revealed there was almost a 500% increase
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Canada’s police have seized bitcoin worth more than $28 million from a former government employee who has been extradited to the U.S. to “face charges for dozens of ransomware attacks resulting in the payment of tens of millions of dollars in ransoms.” Canadian Authority Seizes Bitcoin Worth $28 Million The U.S. Department
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Vachon-Desjardins allegedly operated as an “affiliate” of the NetWalker ransomware gang, which sells “Ransomware-as-a-Service” (RaaS) to affiliates like Vachon-Desjardins, who carry out the attack themselves, sharing a percentage of the booty with the developers. Original Source
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Just between July 2020 and June 2021, ransomware activity soared by a whopping 1,070%, according to a recent Fortinet report, with other researchers confirming the proliferation of this mode of extortion. Mimicking the prevalent business model of the legitimate tech world, ransomware-as-a-service portals popped up in the darker corners of
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According to a new report published by blockchain analytics firm Chainalysis on Monday, approximately 74%, or over $400 million USD, of ransomware revenue last year were funneled into high-risk wallet addresses that are likely to have been based in Russia. The report analyzed ransomware hacks throughout 2021 and determined their
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Almost three-quarters of revenue from ransomware attacks last year, or $400 million, went to addresses that are “highly likely” to be affiliated with Russia, Chainalysis said. Original Source
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