“Ultimately, however, ransomware is a cybersecurity issue, and the best protection is prevention, best practices, improved defenses and resilience,” he said. “While financial regulation can help with detection and slow the spread or speed the pursuit, we need to make it harder to happen, not just harder to pay. Not every actor is merely financially motivated, and we need to … [Read more...] about The Ransomware Crisis Is a Crypto Problem
Ransomware
‘Tis the Season of Ransomware Indictments, Feat. Chainalysis’ Gurvais Grigg
This week, “Opinionated” hosts Ben Schiller, Anna Baydakova and Danny Nelson are talking to Gurvais Grigg, global public sector chief technology officer at Chainalysis, a blockchain investigative firm.Grigg spent 23 years at the FBI, rising from a trainee to assistant director. But this April, he took a career turn and joined a private sector company, which is often helping law … [Read more...] about ‘Tis the Season of Ransomware Indictments, Feat. Chainalysis’ Gurvais Grigg
Electronics Retailer MediaMarkt Hit by Ransomware Demand for $50M Bitcoin Payment: Report
The attack by the Hive ransomware group encrypted MediaMarkt’s servers, causing the retailer to shut down its IT systems to prevent further spread. This caused many stores, mainly in the Netherlands, to be unable to accept credit and debit card payments. Source link … [Read more...] about Electronics Retailer MediaMarkt Hit by Ransomware Demand for $50M Bitcoin Payment: Report
Biden Administration Sanctions Crypto Exchange Chatex Over Ransomware Allegations
It is the second time that the U.S. Treasury Department has sanctioned a crypto exchange. Chatex “has facilitated transactions for multiple ransomware variants” and has provided “material support” to crypto over-the-counter exchange Suex, which is also associated with ransomware, the press release said. Source link … [Read more...] about Biden Administration Sanctions Crypto Exchange Chatex Over Ransomware Allegations
Crypto’s dark underbelly exposed in ransomware attack, U.S. senator says
United States lawmakers have deliberated on the prospect of banning cryptocurrencies as a solution to the ransomware attacks that befell U.S. institutions in the past month, and opinions appear to be mixed.The largest fuel pipeline in America was brought to a halt in early May when hackers infected the computer networks of Colonial Pipeline. Food packing company JBS was hit … [Read more...] about Crypto’s dark underbelly exposed in ransomware attack, U.S. senator says