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Browse: Home / Ransomware

Ransomware

A US college is shutting down for good following a ransomware attack

By Securities Docket on May 9, 2022, 2:41 pm

Lincoln College says it will close this week in the wake of a ransomware attack that took months to resolve. While the impact of COVID-19 severely impacted activities such as recruitment and fundraising, the cyberattack seems to have been the tipping point for the Illinois institution. The college has informed the Illinois Department of Higher […]

Posted in Industry, Top | Tagged Ransomware

Ransomware gang says it has hacked 49ers football team | AP News

By Securities Docket on February 14, 2022, 10:35 am

The San Francisco 49ers have been hit by a ransomware attack, with cyber criminals claiming they stole some of the football team’s financial data. The ransomware gang BlackByte recently posted some of the purportedly stolen team documents on a dark web site in a file marked “2020 Invoices.” The gang did not make any of […]

Posted in Data Breach, Industry, Top | Tagged Ransomware

Justice Dept. Brings New Charges in Ransomware Attacks – The New York Times

By Securities Docket on November 9, 2021, 8:59 am

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 […]

Posted in Data Breach, Industry, Top | Tagged Ransomware

Why Not Hold Ransomware Attackers Hostage for a Change? – Security Boulevard

By Securities Docket on October 22, 2021, 8:01 am

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 […]

Posted in Industry, Top | Tagged Ransomware

Congress Inches Toward Response to Ransomware Attacks – WSJ

By Securities Docket on October 8, 2021, 10:27 am

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 […]

Posted in Industry, Top | Tagged Ransomware, US Congress

U.S. Government Launches First One-Stop Ransomware Resource at StopRansomware.gov | Department of Justice

By Securities Docket on August 26, 2021, 8:54 am

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 […]

Posted in Regulatory, Top | Tagged DOJ, Ransomware

IDC Survey Finds More Than One Third of Organizations Worldwide Have Experienced a Ransomware Attack or Breach | Business Wire

By Securities Docket on August 26, 2021, 8:52 am

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 […]

Posted in Data Breach, Industry, Top | Tagged Ransomware

How a ransomware attack works – The Washington Post

By Securities Docket on July 9, 2021, 9:13 am

“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 […]

Posted in Data Breach, Industry, Top | Tagged Ransomware

‘Shut down everything:’ Global ransomware attack takes a small Maryland town offline

By Securities Docket on July 8, 2021, 9:33 am

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 […]

Posted in Data Breach, Industry, Top | Tagged Ransomware

Ransomware Is the IRS of Bitcoin – WSJ

By Securities Docket on July 6, 2021, 9:07 am

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 […]

Posted in Industry, Top | Tagged Bitcoin, Ransomware

Cyber insurance isn’t helping with cybersecurity, and it might be making the ransomware crisis worse, say researchers | ZDNet

By Securities Docket on July 1, 2021, 1:25 pm

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 […]

Posted in Industry, Top | Tagged Cyber Insurance, Ransomware

Major Government Contractor Booz Allen Helps Cyber Victims Pay Ransoms—Exactly The Opposite Of U.S. Policy

By Securities Docket on June 25, 2021, 2:34 pm

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 […]

Posted in Industry, Top | Tagged Ransomware

To stop the ransomware pandemic, start with the basics | The Economist

By Securities Docket on June 17, 2021, 2:48 pm

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 […]

Posted in Industry, Top | Tagged Ransomware

Bitcoin Is Actually Traceable, Pipeline Investigation Shows – The New York Times

By Securities Docket on June 10, 2021, 4:37 pm

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 […]

Posted in Data Breach, Industry, Top | Tagged Bitcoin, Ransomware

JBS Paid $11 Million to Resolve Ransomware Attack – WSJ

By Securities Docket on June 10, 2021, 8:57 am

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, […]

Posted in Data Breach, Top | Tagged Ransomware

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