Cryptojacking has become a lucrative choice for cybercriminals as many victims are unaware they have been compromised.
Ransomware News
Ransomware is a type of malicious software made for the extortion of money. In principle, the software works by blocking the whole computer system or access to a user’s data through file encryption and then demands a ransom from the victim. Ransomware attacks are mainly target large organizations, as they have a large amount of valuable information and are ready to pay for it. Currently, as cryptocurrency has become one of the most convenient and fastest ways of payment, a lot of companies buy digital currencies in order to escape quickly from a ransomware attack. Bitcoin has also become one of the most popular currencies that is demanded by extorters as payment because of its relative anonymity and speed of transactions.
- News2216
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The university reluctantly paid €200,000 in Bitcoin in December 2019 to avoid losing critical research data and resources.
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A new report suggests that a notorious North Korea-affiliated hacking group may be behind last week’s $100 million Harmony attack.
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While North Korea leads the world in crypto crime, crypto analytic firms have estimated that DPRK hackers have found it increasingly difficult to launder stolen crypto funds.
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The firm said it was starting a "Crypto Incident Response" hotline to "help bring bad actors to justice and demonstrate that crypto is not the asset class of anonymity and crime.”
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Three experts from the private sector appeared before the Senate committee Tuesday to talk about ransomware attacks and how to combat them.
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XMR’s bearish setup comes as Monero prepares to launch the testnet version of its hard fork this month.
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The notion of crypto being a tool for money laundering is often propagated by naysayers that include policymakers with a stake in the traditional financial system.
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AUSTRAC also urged financial institutions from debanking clients who may be engaged in suspicious account activity, as a mistake could be costly to “Australia’s economy.”
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A surge in ransomware in 2021 has also resulted in a surge in Monero usage as the method of payment, as more criminal groups want only XMR.
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Infrastructure firms will now have to report within 24 hours if they make a ransomware payment. “This surely will be a game changer.”
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Ransomware will remain a major threat moving into 2022, and to counter it, the crypto ecosystem must come to terms with more regulation.
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Russian hackers allegedly netted a profit of more than $400 million through crypto-ransomware in 2021.
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The total amount of value extracted through ransomware payments in 2021 is expected to rise above 2020 levels once all the data is sorted through.
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“This will not be the last time — the U.S. government will continue to aggressively pursue the entire ransomware ecosystem and increase our nation’s resilience to cyber threats,” said Attorney General Merrick Garland.
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