Tag Archives: Ransomware

On Aug. 15, crypto compliance and research firm Chainalysis released the first part of its 2024 crypto crime report. The firm revealed that aggregate illicit activity on-chain has dropped by 19.6% year-to-date, down from $20.9 billion to $16.7 billion. It added that this demonstrates “that legitimate activity is growing more quickly than illicit activity.” Part 1 of our mid-year #cryptocrime update is here! Illicit on-chain activity dropped by nearly 20% YTD, but stolen fund...

Prominent global agencies have flagged a newly-emerged ransomware group named Akira, estimated to be just a year old, for its widespread cyber intrusions, breaching over 250 organizations globally and raking in nearly $42 million in ransom payments. Investigations led by the United States Federal Bureau of Investigation (FBI) have revealed that Akira has been actively targeting businesses and critical infrastructure across North America, Europe, and Australia since March...

When it comes to crypto crime, a new report issued by blockchain analysis firm Chainalysis shows that there’s good news and bad news. The good news is that such crime is down across the board. About 65 percent down, to be exact. The bad news is that much of the crime in the crypto arena has shifted to ransomware. Chainalysis Report Shows Ransomware Growing 2022 was arguably the worst year on record for crypto. It brought about one of the worst bear markets in...

A slew of major U.S. grocery chains have been targeted by scammers in recent months posing fake bomb threats with demands for ransom payments. While often involving cash or gift cards, the scammers have sometimes requested that their victims pay them in Bitcoin (BTC). The Supermarket Scam As reported by the Wall Street Journal on Sunday, companies like Kroger, Walmart, Whole Foods Market have been targeted by the scam at various stores across and Wisconsin, with scammers...

A Russian man has been charged by US authorities for his alleged connection to multiple ransomware schemes that netted him and other attackers nearly $200 million – much of which came through crypto.  Some of the victims of those ransomware attacks included hospitals, schools, and police departments.  $200 Million in Ransomware Payments The culprit – Mikhail Pavlovich Matveev – was part of three ransomware gangs: Lockbit, Babuk and Hive. Collectively, they have obtained...

The FBI announced the takedown of Hive, a ransomware network with members across multiple states in Europe and North America, in a recent press release. The US agency stated that they had been on the case since at least 2021. Hackers Hacked Despite the efforts of the FBI, the network was tough to crack. However, in July of 2022, law enforcement was able to penetrate the cybercrime group’s control center, gaining access to the decryption keys that were to be given to victims...

Studie: Ransomware-Gauner machten 2022 40 Prozent weniger Umsatz mit Ransomware Das bekannte Blockchain-Analyse Unternehmen Chainalysis hat für einmal eine ziemlich unterhaltsame Statistik publiziert: Demnach machten Gangster im letzten Jahr 2022 40 Prozent weniger Umsatz. Und wahrscheinlich ist da niemand traurig, wenn sich Lösegelderpressung nicht mehr lohnt. Im Jahr 2022 haben Cyberkriminelle Lösegeldzahlungen in einem Wert von rund 456,8...

2022 has been a turbulent year. One good thing to come out of it is that – ransomware earnings are significantly down. Attacks on the crypto industry remain rampant. However, data suggests that victims are increasingly refusing to pay ransomware attackers. Blockchain analytics company Chainalysis, in a new report, shed light on the changing dynamics in the ransomware industry. Zooming in on Ransomware Attacks 2022 It found that over 10,000 unique strains were active in the...

According to White House officials, bitcoin – though it has its benefits – has increased ransomware cases across the country. The White House Isn’t Confident in BTC A White House spokesperson (who remains anonymous) recently commented in an interview: When bitcoin became more widely used, we saw a huge jump in ransomware because it was a way to move money across borders. It’s a borderless threat, and we [need] to tackle it in a borderless way. The threat has clearly evolved. The government...

The US Department of Justice confiscated 719 bitcoins from the 35-year-old Canadian – Sebastien Vachon-Desjardins – for participating in the NetWalker ransomware attacks. At the time of the seizure, the amount of cryptocurrency equaled nearly $22 million. Prison Time for the Criminal According to a recent announcement, Vachon-Desjardins was involved in a sophisticated type of ransomware known as NetWalker. The malicious software targeted victims all over the globe, including...