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Tag Archives: ransomware

New Russian Dark web GandCrab Ransomware Uncovered.

An Australian Cybersecurity firm, LMNTRIX on Friday released its report on the finding after an investigation that uncovered a newly engineered GandCrab Ransomware nicknamed ‘GandCrabransomware’. The malicious program is being marketed and advertised in Russian on the dark web as a ransomware-as-a-service package to potential buyers. Though the cybercrime industry has been making significant revenue for quite some time globally, ... Read More »

Romania Police Arrest a Darknet Ransomware Gang of Five

Romanian police made their first ransomware related arrest in five years. According to Europol, the Romanian police responded to the call of rampant ransomware attacks and sales of hacked data on the Darknet, to go all out to arrest a gang of five. The gangs were suspected to have launched a series of cyber attacks across Europe infecting computers and ... Read More »

Ordinypt Ransomware Targeting Germany

A new wiper malware called Ordinypt has been discovered and is targeting businesses and victims in Germany. The ransomware has the facade of fake job applicants inquiring about openings and rather than encrypting users’ documents, the ransomware overwrites files with random data. ID-Ransomware coder, Michael Gillespie first discovered Ordinypt when one of its ransom notes was uploaded to the website ... Read More »

Gibon Ransomware Appears on a Russian Darkweb Forum for $500

Matthew Mesa, a proofpoint researcher has discovered a Gibon ransomware being sold on a Darknet marketplace for $500. There are quite a number of forums on the Darknet where different goods and services are advertised and discussed. Matthew Mesa, on his research duty, came across a Russian forum where the Gibon ransomware was being advertised. The Russian Darknet forum is ... Read More »

Hackers Demand Over $250,000 for Ransomware Decryption Keys

Hackers Demand Over $250,000 for Ransomware Decryption Keys The alleged authors of the NotPetya ransomware, which swept through Ukraine locking the systems of governments, financial institutes and businesses, demanded a payment of 100 BTC, which was over $250,000 at the time, for the private keys. Earlier this week, Motherboard reported that cyber security researchers detected movement around the BTC wallet ... Read More »

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14-year-old Boy Arrested in Japan for Creating Ransomware Virus

A 14-year-old boy was detained in Japan for creating a ransomware program, which asks for a ransom payment to access the infected computer. According to sources in The Japan Times , the teenager is a third-year high school student in Takatsuki city, located in Osaka. The teenager was arrested on Monday this week for combining various free encryption programs to create specialized malware to make ... Read More »

Cybersecurity Insurance Market to Increase by 3X to $10 Billion in 2020

The demand for cyber security systems and solutions have been on the rise as a result of the emergence of complex and highly sophisticated ransomware, hacking attacks and security breaches. Although analysts agree that prevention is the optimal solution against ransomware attacks and other forms of hacking attacks, companies have begun to seek cyber security insurance as ransomware attacks began ... Read More »

Bitcoin Achieved $2,000, Regardless of WannaCry Ransomware, Change of Image?

Last week, the majority of mainstream media outlets in the US with the exception of CNBC and Bloomberg blamed bitcoin for the global WannaCry ransomware attack and for providing ransomware distributors a financial lifeline, instead of addressing a more important issue that is the development of Microsoft-targeting malware by the National Security Agency (NSA). Although bitcoin is the lifeline for ... Read More »

Canadian College Required to Pay 30 Bitcoins by Ransomware, Investigation Opens

Cambrian college, a Canadian university based in Sudbury, Ontario, recently fell victim to a severe ransomware attack which disabled the majority of the functions and services designed for students and professors of the university. According to the representatives of Cambrian college, the ransomware specifically targeted servers and databases of platforms used by students and professors throughout the school year. Although ... Read More »

Almost 40% of Consumers Pay Ransomware Fees

A new study by Trustlook, a cyber information and security firm, revealed that not only are hospitals and larger organizations hit by ransomware, but individual consumers are too. The number of ransomware attacks in general increased but the number of consumers that paid for the return of their data increased also. Consumers proved far less safe than a company’s cybersecurity ... Read More »

Investment on Security Firms Rise as Dark Web and Bitcoin Ransomware Cases Increase

Early-stage and state-led investments on cybersecurity firms are increasing exponentially. According to reports from the Big Four accounting firms which include EY, PwC, Deloitte and KPMG, the surge in cybersecurity investments is a direct result of rising cases of ransomware attacks, phishing scams and data thefts. Ransomware attacks and phishing scams are correlated in a sense that they both are ... Read More »

Suspect Spreading Philadelphia Ransomware Identified

In March 2017, cybercrime investigators in Austria made a breakthrough in a so-called “ransomware case.” Someone infected an Upper Austrian company with malware known as Philadelphia or the Philadelphia Ransomware. Investigators discovered the attacker responsible for the infection: a 19-year-old from the region. The suspect, armed with ransomware from the darknet, likely infected several other companies in the region, a ... Read More »

Public Consensus Networks & Secret Management : From Access Control to Ransomware

The advent of bitcoin has introduced the world to a new class of decentralized networks. Referred to as “consensus networks”, such systems, as bitcoin’s and Ethereum’s blockchain, deploy highly distributed volunteer-run networks to implement public rules that are responsible for managing access to various resources. Bitcoin’s network utilizes consensus to apply monetary transaction rules. Nevertheless, more recently consensus based systems ... Read More »

New Commission-based Ransomware As A Service Available Free On Dark Web

Recently, researchers have uncovered a new ransomware as a service (RaaS), which would allow free access for wannabe hackers. The Dot ransomware operates on a commission-based strategy, offering cybercriminals free access to the software while splitting the profits 50/50 on successful attacks. Security researchers claim that the new ransomware came out on February 19, and it is available via a ... Read More »

UK Gov’t Says Bitcoin Ransomware & Banking Malware Are Top Frauds

The National Crime Agency (NCA), a national law enforcement and police agency in the UK, officially announced that bitcoin ransomware and banking malware are top cyber threats against businesses and the public. In the past 12 months, the vast majority of multi-trillion dollar industries, major corporations and even law enforcement agencies have fallen victim to sophisticated bitcoin ransomware attacks. As ... Read More »