Babuk Locker: Mediocre, But Gets the Job Done

New Year’s ransomware news came early this year, when various media platforms began reporting the discovery of Babuk Locker, the newest ransomware variant to target corporations  by encrypting files across network-connected devices and extorting ranso… Continue reading Babuk Locker: Mediocre, But Gets the Job Done

Arrest, Seizures Tied to Netwalker Ransomware

U.S. and Bulgarian authorities this week seized the darkweb site used by the NetWalker ransomware cybercrime group to publish data stolen from its victims. In connection with the seizure, a Canadian national suspected of extorting more than $27 million through the spreading of NetWalker was charged in a Florida court. Continue reading Arrest, Seizures Tied to Netwalker Ransomware

NetWalker ransomware investigation yields arrest, big cryptocurrency seizure

In a coordinated, multi-part offensive against NetWalker ransomware attackers, law enforcement agencies announced Wednesday that they charged a Canadian national, seized nearly half a million dollars in cryptocurrency and disabled a dark web leak site. The NetWalker attackers have been part of a growing ransomware trend where the hackers hold stolen data hostage, leak a sample of it and threaten to release the rest in order to incentivize victims into paying. They’ve been gone after everyone from government agencies to hospitals to schools, and haven’t shied from exploiting the COVID-19 crisis. They’ve also sought to expand profits by offering their ransomware as a service to other cybercriminals, leading to reports of booming revenue in 2020. The number of overall ransomware attacks increased by 311% in 2020, according to recent research by Chainalysis, a cryptocurrency tracking firm. The charges against Sebastien Vachon-Desjardins, as well as the seizure of approximately $454,530.19 in […]

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International Action Targets Emotet Crimeware

Authorities across Europe on Tuesday said they’d seized control over Emotet, a prolific malware strain and cybercrime-as-service operation. Investigators say the action could help quarantine more than a million Microsoft Windows systems currently compromised with malware tied to Emotet infections. Continue reading International Action Targets Emotet Crimeware

Why Enterprises Must Take Ransomware Attacks Seriously

Ransomware attacks are well-documented as a legitimate threat, but haven’t often been taken seriously until recently. Preventing a problem that may or may not happen wasn’t seen as a worthy IT or security investment, due to cost and blind faith … Continue reading Why Enterprises Must Take Ransomware Attacks Seriously

Isolation-based security technologies are gaining prominence

Cyberinc shared its insights into the key trends that will shape the cybersecurity industry in the coming year. With evolving tactics that increase the risk and impact of ransomware and phishing, combined with the new normal of remote workforces, Cyber… Continue reading Isolation-based security technologies are gaining prominence

Ransomware hackers launder bitcoin through just a handful of locations, researchers find

It’s starting to look like the ransomware industry is developing its own version of the 1%, where a small number of players enjoy most of the wealth.  Cybercrime investigators have suggested the spiraling trend of increasingly large ransomware cash demands and attack frequency is not the work of a large number of criminals, but instead the result of a specialized black market economy in which hackers will different skill-sets collaborate on a breach, then split the proceeds. A relatively small number of attack groups actually seem to make up most of that black market economy, offering their malicious software on a rental basis and then taking a sizable chunk of the profits and relying on money laundering to cover their tracks.  Researchers now are tracking more of this activity via the blockchain, an accessible ledger through which public bitcoin transactions are recorded. When ransomware victims pay attackers to unlock their systems to decrypt their […]

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