Ransomware Concerns Prompt Some UK Businesses to Buy Bitcoins, Survey Finds
A number of companies in the UK are stockpiling bitcoins in the event of a ransomware infection, according to a recent survey of 250 information technology specialists in the country. Data security firm Citrix released the results of a survey it conducted with public relations firm Censuswide, which suggested that ransomware – malware that encrypts up a computer’s files until a ransom is paid (usually in bitcoin) to unlock the data – is a prevailing concern among some companies in the UK. Thirty-three percent of those surveyed said their companies maintain a stash of bitcoin just in case.....
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Chainalysis has stated that ransomware arrests will soon take place targeting cyber criminals behind ransomware attacks. Rise of Ransomware Attacks. Over the past six months, ransomware attacks have become an issue to government, business and healthcare organizations. In January, CCN reported that three banks and a pharmaceutical company in India had been targeted by a ransomware scheme with the ransom demand in bitcoins. Three Greek banks were reported hacked last November with the hackers demanding their ransom be paid in bitcoins. While the individuals in question were unable to gain....
In fact, 1% of attacks saw a demand of US$150,000 to be paid in Bitcoin. Ransomware developers are always one step ahead of security researchers these days. Not only in the way their software works, but also how they target potential victims. American businesses are seeing an influx in ransomware attacks all of a sudden. More particularly, company executives are a prime target for ransom are right now. While nearly nine in ten ransomware attacks are targeting hospitals these days, corporations are not out of the woods just yet. A new study unveiled how 40% of businesses investigated had....
Given the recent increase in Bitcoin ransomware attacks all over the world, security researchers have been trying to figure out which vulnerabilities have been exploited by hackers. As it turns out, the recent zero-day exploit in Flash is being used as part of the Magnitude exploit kit to distribute various forms of Bitcoin ransomware. Magnitude EK Uses Flash Zero-day Vulnerability. Just a few days ago, Adobe announced they had discovered a serious vulnerability in their Flash software package, which was patched as of yesterday morning. This prompt response by the company should avoid....
A recent survey by corporate networking firm Citrix has revealed that companies are ‘stockpiling’ bitcoin to use the cryptocurrency as ransom payment if faced with a ransomware attack. Over the years, cybercriminals have conducted phishing campaigns, hacking endeavors and DDoS attacks as effective means to engage in cybercrime. In recent times, the emergence of ransomware malware has targeted everyday individuals and large companies alike. The malware typically uses cryptography to encrypt a target’s files on the hard drive, demanding a ransom payment – typically in bitcoin – in exchange....
Despite growing interest in crypto asset payments across emerging markets, concerns over security remain a primary obstacle to wider adoption, according to a new report. A global survey conducted by Bitget Wallet, involving 4,599 participants, revealed that more than one-third of users cite security vulnerabilities—such as hacks and phishing scams—as the biggest barrier preventing them […]