network security

Organizations attacked by extortion software paid at least $350 million in ransom in 2020 From Chainalysis

The following is the Organizations attacked by extortion software paid at least $350 million in ransom in 2020 From Chainalysis recommended by And this article belongs to the classification: network security.

According to a statistical report released last week by chainalysis, a blockchain analysis company, institutions and organizations attacked by blackmail software have paid at least $350 million in ransom in 2020. The number is compiled by tracking transactions in blockchain addresses associated with blackmail software attacks. Although chainalysis has one of the most complete data sets on cyber crime related to cryptocurrency, it said the actual amount would exceed that estimate.

According to the report, the ransom paid by blackmail software accounted for about 7% of the total transaction amount of cryptocurrency in 2020. Chainalysis said that the number had increased by 311% compared with 2019, and attributed the sudden increase to the fact that some new blackmail software had obtained a large amount of money from the victims, and some existing blackmail software had increased the ransom amount.

Among the blackmail hacking groups, the report points out Ryuk, maze (now dissolved), doppelpaymer, netwalker (destroyed by the authorities), conti and Revil (also known as sodinokibi). Still, ransoms such as snatch, defray777 (ransom EXX) and Dharma, worth millions of dollars, were paid last year.

Chainalysis said it also tracked how criminals transferred ransoms through the blockchain. Their findings are not much different from previous years. They point out that criminals usually launder money through bitcoin hybrid services, and then send the funds to legal and high-risk cryptocurrency trading portals to convert the funds into real world currencies.

But the chainalysis team also confirmed a report released last month by advance intelligence, which found that extortion software gangs often use these funds to pay for other cyber crime services.

Chainalysis said it also saw payments to bulletproof hosting providers, vulnerability vendors and penetration testing services (also known as initial access brokers) because blackmail operations dealt with their “suppliers.”.

Read more: coveware: Q4 blackmail software costs down to $154108 in 2020 34% year on year decrease in the proportion of criminal activities in cryptocurrency transactions in 2020 Micro: the number of blackmail software network attacks increased 8 times in 2016 carbon black: Global blackmail software sales increased 2502% from 2016 to 2017 Wannacry still tops the list Security: Global blackmail software increased by 600% in 2016 Kaspersky: the proportion of Android blackmail software increased to 4.63% from 2015 to 2016 FBI: the number of blackmail software complaints reached 2453 in 2015, nearly doubling year on year

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