Bitcoin Is Aiding the Ransomware Industry

Up to this point, there have been two main reasons people decide to use bitcoin— either for censorship-resistant payments or as a store of value. However, in 2016, a new application for the use of Bitcoin as a censorship-resistant payment system, ransomware, experienced immense growth. According to some industry watchers the core issue with ransomware....

The topic of Bitcoin ransomware has been beaten around the bush multiple times by now, but a recent report by Intel Security shows the threat is far from over. In fact, their findings suggest ransomware becomes a grave threat by 2021, and healthcare institutions will be the primary target. Bitcoin Ransomware To Keep Targeting Healthcare Sector. It is not the first time Bitcoin ransomware and healthcare are mentioned in the same breath, as these malware attacks have caused issues for various hospitals all over the world in the past few months. A new report by Intel Security indicates this....

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....

The increase in ransomware attacks on banks has forced them to buy bitcoin. Who would have imagined that traditional banks would be buying Bitcoin so soon? The answer is – probably no one. The recent increase in Bitcoin ransomware attacks on banks and financial institutions has forced them to take this extreme step. According to the CEO of Malwarebytes – Marcin Kleczynski, the malicious ransomware programs have created a huge security threat to banks. In order to ensure uninterrupted service, the banking industry is even prepared to pay the price demanded by cyber criminals to recover data....

The U.S. Federal Bureau of Investigation (FBI) has released an alert that warns private industry in the country about incidents of harassment of victims made by ransomware gangs, such as the well-known Doppelpaymer group. FBI Is Aware of Cold-Calling Tactics by Ransomware Gangs According to a PIN (private industry notification) alert regularly sent to U.S. companies to inform them about the latest updates in the cybersecurity sphere, shared by Zdnet, the FBI has been aware of incidents since February 2020, where Doppelpaymer has cold-called companies to intimidate victims by demanding them....