Want to weed out ransomware? Regulate crypto exchanges
Ransomware will remain a major threat moving into 2022, and to counter it, the crypto ecosystem must come to terms with more regulation. Just between July 2020 and June 2021, ransomware activity soared by a whopping 1,070%, according to a recent Fortinet report, with other researchers confirming the proliferation of this mode of extortion. Mimicking the prevalent business model of the legitimate tech world, ransomware-as-a-service portals popped up in the darker corners of the web, institutionalizing the shadow industry and slashing the skill ceiling for wannabe-criminals. The trend should....
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Cryptocurrency regulation in Hong Kong is undergoing changes. The Securities and Futures Commission (SFC) is reportedly introducing a new licensing system to regulate all crypto exchanges operating in Hong Kong. Hong Kong’s New Crypto Regulation The CEO of the SFC, Ashley Alder, talked about implementing a new cryptocurrency regulatory framework at Hong Kong Fintech Week on Tuesday. All cryptocurrency trading platforms operating in Hong Kong or targeting local investors will be required to apply for a license with the SFC, Radio Television Hong Kong (RTHK) reported. “Later....
Over the course of 2015, many individuals and companies have been affected by ransomware. While this may have nothing to do with Bitcoin at first glance, there have been a few cases where the ransomware could only be removed by paying a certain fee in Bitcoin. But those days may be over now, as a decryption toolkit for various types of ransomware has been made publicly available, free of charge. CryptoLocker and CoinVault Ransomware. Two types of ransomware making headlines all across the world in recent months are called CryptoLocker and CoinVault. Both types of ransomware operate, in the....
It is well worth noting how the campaign creators heavily relied on the Neutrino exploit kit. Some readers may recall this name, as it is the preferred way of spreading Bitcoin ransomware on a large scale. Over the past few months, there have been multiple malvertising campaigns.The primary objective of these campaigns is to infect Internet users with ransomware and other malware. Cisco’s Talos Group successfully shut down one of these campaigns, which was relying on the Neutrino Exploit Kit. A significant success for security researchers, albeit the war is far from over. Bringing....
In a ransomware attack, it is assumed that the hackers prefer the ransom being paid in bitcoin due to the anonymous nature of its transactions. It might not be true as the hackers are probably interested in bitcoin for entirely different reasons. Bitcoin and Ransomware, these words appear more frequently in a single sentence these days than we wish for. Ransomware attacks have become a common occurrence these days. We had earlier reported the use of Advertising network by cyber criminals to propagate ransomware to the computers belonging to the readers of some of the leading news websites.....
Bitcoin ransomware is one of the biggest threats individuals, and enterprises are facing today. CryptXXX has the potential to become one of the most dangerous versions of this malware to date. Bitcoin users who have been keeping an eye on this history of crypto-ransomware will remember the name Reveton, which was one of the very first types of this....