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Join the Cybersecurity and Incident Response Group on LinkedInJustice Dept. Brings New Charges in Ransomware Attacks – The New York Times
The Justice Department said on Monday that it had brought charges against a Russian national whom it accused of conducting ransomware attacks against American government entities and businesses, including one that temporarily shut down the meat supply giant JBS. In the Biden administration’s latest crackdown on cybercrime, the Justice Department also announced that it had […]
Why Not Hold Ransomware Attackers Hostage for a Change? – Security Boulevard
But what happens in the case where you are able to identify—either by name, location, computer, IP address, MAC address or otherwise—the individual(s) responsible for the ransomware, extortionware or electronic demand for payment? Right now, a ransomware victim has few options. One: Pay the ransom. Two: Don’t pay the ransom and restore/rebuild. Or, three: Choose […]
Congress Inches Toward Response to Ransomware Attacks – WSJ
CONGRESS, FEDS MAKE MOVES ON RANSOMWARE ATTACKS, but a clear fix for the expensive cybercrime epidemic is far from clear. The Senate Homeland Security Committee took a step forward on Wednesday, advancing a bill that would require hospitals and oil and natural-gas pipeline companies, among other critical infrastructure operators, to report cyberattacks and ransom payments […]
U.S. Government Launches First One-Stop Ransomware Resource at StopRansomware.gov | Department of Justice
Today, as part of the ongoing response, agencies across the U.S. government announced new resources and initiatives to protect American businesses and communities from ransomware attacks. The U.S. Department of Justice (DOJ) and the U.S. Department of Homeland Security (DHS), together with federal partners, have launched a new website to combat the threat of ransomware. StopRansomware.gov establishes […]
IDC Survey Finds More Than One Third of Organizations Worldwide Have Experienced a Ransomware Attack or Breach | Business Wire
A new International Data Corporation (IDC) survey found that more than one third of organizations worldwide have experienced a ransomware attack or breach that blocked access to systems or data in the previous 12 months. And for those that fell victim to ransomware, it is not uncommon to have experienced multiple ransomware events. Source: IDC […]
How a ransomware attack works – The Washington Post
“Cryptocurrency is invading all forms of criminal activities, and criminals follow the money,” said Gurvais Grigg, a former assistant director of the FBI and now global public sector chief technology officer of blockchain analysis firm Chainalysis. The transactions are also irreversible, said Rich Sanders, co-founder and lead investigator at CipherBlade, which analyzes the blockchain. “You […]
‘Shut down everything:’ Global ransomware attack takes a small Maryland town offline
McKay said JustTech informed Leonardtown that the ransom demand was $45,000 per computer but that the town’s leaders never seriously considered paying. Instead, they are undertaking the painstaking work of restoring computer system backups. The town has 19 computers, and all but two were frozen. One was spared because the employee who uses it was […]
Ransomware Is the IRS of Bitcoin – WSJ
Like taxes, the forced use of bitcoin by victims of ransomware creates a need for at least some bitcoin. Ransom payers have to buy it from someone else, who either is in the energy-intensive business of mining it or speculates on its future value. So far, it hasn’t provided the foundation for broader adoption, not […]
Cyber insurance isn’t helping with cybersecurity, and it might be making the ransomware crisis worse, say researchers | ZDNet
According to a research paper examining cyber insurance and the cybersecurity challenge by defence think tank Royal United Services Institute (RUSI), this practice isn’t just encouraging cyber criminals, it’s also not sustainable for the cyber insurance industry, which warns ransomware has become an existential threat for some insurers. “To date, cyber insurance has failed to live […]
Major Government Contractor Booz Allen Helps Cyber Victims Pay Ransoms—Exactly The Opposite Of U.S. Policy
This time around, though, Bessette is leading the cyber incident response at consulting firm Booz Allen Hamilton, which he joined in 2019. In his new role, he is actually helping the firm’s customers negotiate with hackers, something he never did at the FBI. In some instances, he is even recommending paying the ransom, which goes […]
To stop the ransomware pandemic, start with the basics | The Economist
Fixing the private sector’s incentives is the first step. Officials in America, Britain and France want to ban insurance coverage of ransom payments, on the ground that it encourages further attacks. Better to require companies to publicly disclose attacks and their potential cost. In America, for example, the requirements are vague and involve large time […]
Bitcoin Is Actually Traceable, Pipeline Investigation Shows – The New York Times
Criminals, often operating in hidden reaches of the internet, flocked to Bitcoin to do illicit business without revealing their names or locations. The digital currency quickly became as popular with drug dealers and tax evaders as it was with contrarian libertarians. But this week’s revelation that federal officials had recovered most of the Bitcoin ransom […]
JBS Paid $11 Million to Resolve Ransomware Attack – WSJ
JBS USA Holdings Inc. paid an $11 million ransom to cybercriminals who last week temporarily knocked out plants that process roughly one-fifth of the nation’s meat supply, the company’s chief executive said. The ransom payment, in bitcoin, was made to shield JBS meat plants from further disruption and to limit the potential impact on restaurants, […]
FBI Director Compares Ransomware Challenge to 9/11 – WSJ
FBI Director Christopher Wray said the agency is investigating about 100 different types of ransomware, many of which trace back to actors in Russia, and compared the current spate of cyberattacks with the challenge posed by the Sept. 11, 2001, terrorist attacks. “There are a lot of parallels, there’s a lot of importance, and a […]
Ransomware attack hits ferry to Cape Cod, Nantucket, Martha’s Vineyard
The Steamship Authority of Massachusetts ferry service fell victim to a ransomware attack Wednesday, the latest cyber assault affecting logistics and services in the United States. The Steamship Authority is the largest ferry service offering daily fares from Cape Cod to neighboring islands Nantucket and Martha’s Vineyard off the coast of Massachusetts, according to the […]