Crypto Extortion on the Rise, Says Academic Study

Crypto-based extortion –  basically the process of using spam-flinging botnet armies to “ransom” dirty pictures and compromising information in exchange for bitcoin  –  has turned virtual crime into child’s play. Speaking this week at the Advances in Financial Technology conference in Zurich, an international team comprised of researchers from the Austrian Technology Institute and security […]

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Emsisoft Releases Bug Fix for Bitcoin-Ransoming Malware WannaCryFake

Software firm Emsisoft released a bug fix for the bitcoin-ransoming malware WannaCryFake. Announced today in a blog post, the free software will help recover encrypted files without leading to data loss. Unlike real crypto-mining exploits, ransomware is dependent on extortion to reap a reward. Ransomware attacks increased 118 percent in 2019, equaling 504 new threats […]

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Ransomware Crooks Cashed Out $16 Million from Defunct Bitcoin Exchange

By CCN.com: In the two years leading up to 2018, a spate of ransomware attacks were analyzed in a report by a team of researchers hailing mostly from leading U.S. universities and Google. Results showed a conservative estimate of total funds stolen to be $16 million, with bitcoin providing a way for malicious actors to […]

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Malware Crypto Ransoms Rose By Almost 90% in Q1: Report

The average cryptocurrency payout for ransomware attacks rose dramatically in the first quarter of 2019, according to a firm that helps victims pay ransoms. In its quarterly report, Coveware said that, while in Q4 last year the average ransom was $6,733, it shot up by 89 percent to $12,762 in the first three months of 2019. The […]

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