Category: Ransomware

Verizon Security Report: 23 Percent of Data Breaches Carried Out by State-Sponsored Cybercrime Syndicates

A Verizon internet security report shows that state-sponsored hacking is becoming an increasingly larger part of global cybercrime, ZDNet reports, May 8, 2019. The Verizon report also showed that hackers prefer cryptocurrency to launder their stolen funds or to demand ransom payments.  State-Sponsored Hacking Becoming a Clear & Present Danger […]

Bitcoin Accounts for 98% of Crypto-Denominated Ransomware Payments, Study

Bitcoin (BTC) continues to account for the lion’s share of crypto-denominated ransomware payments, according to Coveware’s Q1 2019 Global Ransomware Marketplace report, published on April 15. The report — reportedly based upon aggregated ransomware data from cases tackled by Coveware’s Incident Response Team — indicates that in Q1 2019 the […]

PayPal Aims to Prevent Crypto Ransomware Attacks With New Patent

Digital payments giant PayPal has won a cybersecurity patent to protect users from crypto ransomware, according to a document from the United States Patent and Trademark Office (USPTO) published on April 16. The system described in the patent, entitled “Techniques for ransomware detection and mitigation,” intends to improve the detection […]

Cryptojacking: Malicious Cryptocurrency Mining Is not a Crime, Japanese Court Rules

A court in Japan has acquitted an individual accused of embedding a cryptojacking malware in his website to surreptitiously mine cryptocurrency using the computing power of the visitors to the site. Local Japanese media platform, The Mainichi reports that the court ruled that such activity wasn’t a criminal offense. Meanwhile, […]

PwC: Bitcoin Ransomware Hackers Laundered Money via WEX Exchange

Big Four consulting and auditing company PwC has linked Iranian nationals behind Bitcoin (BTC) ransomware scheme SamSam to the crypto exchange WEX in a recent report published in February.    The report is based on information that was previously disclosed by the United States Department of Justice (DoJ). As per […]