Sophos’ Post

🦹♂️ ↗️ Ransomware is the one form of #cryptocurrency based crime on the rise so far in 2023. In fact, #ransomware attackers are on pace for their second-biggest year ever, having extorted at least US$449.1M through June. If this pace continues, ransomware attackers will extort US$898.6M from victims in 2023, trailing only 2021’s US$939.9M.  #Crypto #Crime Mid-year Update - https://buff.ly/41P8ajj Chainalysis #cybersecurity #canadiancybersecurity CANADIAN CYBERSECURITY INC.

Hackers are operating as a business and trying to find ways to make money. Sometimes a #smallbusiness might not be attractive source to extract ransom, but they can steal any data and then use the computers to mine crypto for additional value. It sucks to be used when you are working so hard to operate a business. We have affordable solutions to make sure that your business is not being used for someone else's gains.

Hackers are using your computers to mine for crypto currencies. Yet another way for them to make money off your resources. So it is not just stealing your data, ransoming your computers, but also using your resources to mine and make money. The Sophos 2023 threat report covers developments and trends in ransomware, the crime-as-a-service industry, the credential theft ecosystem, attack tools, cryptomining, mobile malware, and more... https://lnkd.in/dgyy6pv7 Who is keeping your business safe? #Sophos #cyberSecurity #ThreatReport #Ransomware #dataanalysis #cryptocurrency

Bitcoin, the world’s first and largest cryptocurrency, is most widely viewed as a new kind of digital money. But as it matures and advances, Bitcoin is poised to create significant impact in a broad range of industries and areas beyond just the financial sector. Bitcoin, because of its inherent structure, might play a vital role in ending cyber attacks. In a new video interview, Dhruv Bansal took us inside the history of Bitcoin’s involvement in ransomware attacks and explained how ultimately, Bitcoin might become the foundation for a new approach to how we secure our most valuable data, assets and information, even in the public sector. “In 2008, let’s say, we had the internet, we had vulnerabilities in computers, we had people with lots of data they valued, we had encryption algorithms — why didn’t we have ransomware in that era?” Bansal posed in conversation with Executive Mosaic’s Summer Myatt. “And I think the answer is you can’t break into someone’s computer and encrypt their files and then ask them to pay via check or cash somewhere. That’s not a practical way for an attacker to get paid. It required Bitcoin and other cryptocurrencies for attackers to be able to actually get paid their ransoms,” he explained. Check out the video here: 👉 https://buff.ly/3OY2YFg And of course, for all the best govcon news, sign up for our FREE email newsletter at: 👉 https://buff.ly/3ZGVbhS #bitcoin #blockchain #ransomware #cybersecurity #securityexploits

"there are two reasons that together help to explain the upward trend in crypto-ransomware: (1) Targeting of large, deep-pocketed organizations by ransomware attackers and (2) the number of successful small attacks. Both of these trends are evident, which shows how the distribution of ransomware payment sizes has changed since the year 2020." #ransomware #cybersecurity #cryptocurrency #scam https://lnkd.in/ef_F_KSC

👉 Play Ransomware Group's Global Cyberattacks Unveiled Key takeaways: ◼ Widespread Impact: The Play ransomware group has launched around 300 attacks across North America, South America, and Europe since June 2022, targeting businesses and critical infrastructure as per the joint advisory by the US and Australian governments. ◼ Operational Tactics: Play employs a double-extortion model, using methods like abusing valid accounts and exploiting public-facing applications, and threatening to publish stolen data to coerce payments in cryptocurrency. #PlayRansomware #CybersecurityAlert #GlobalCyberThreat #RansomwareAttack #CyberDefense #CyberCrimePrevention #DigitalSecurity #InfrastructureProtection #CyberAttackStrategies #threatintelligence #informationsecurity #Cybersecurity

Ransomware operations are becoming less profitable. As the number of real (and fake) victims of ransomware gangs continues to rise, the number of ransomware payments is falling, along with the average ransom payment. The reasons behind this decrease are many: increased cyber resilience of organizations (which includes having recoverable backups), the availability of decryptors created by law enforcement and cybersecurity companies, more frequent law enforcement actions, and so on. “Despite the surge in attacks in 2023, ransomware attacks involving payments decreased by 46%, according to our data,” says blockchain analysis firm Chainalysis. “Essentially, it seems that while deploying ransomware has become easier due the professionalization of the criminal underground and lower barriers-to-entry, it is perhaps harder to profit from these activities.” https://lnkd.in/ghjrkPH9

Cybersecurity Awareness Month Challenge Day 19: Ransomware Strain: Deadnet Details: Deadnet was first discovered in August 2023 in enterprise cloud environments. It is a variant of the MedusaLocker ransomware family. It encrypts files and appends a ".deadnet26" extension to their names, rendering them inaccessible. Deadnet has been used to target corporate entities rather than individual users. The ransom note left by Deadnet suggests that the victim's company network has been compromised, and important files have been encrypted using robust cryptographic algorithms. It warns against modifying the files or using third-party recovery software, which could result in data corruption. To initiate decryption, a ransom must be paid, and victims are given a 72-hour window to contact the cybercriminals. Failure to do so may result in an increased ransom amount or the exposure or sale of stolen information. To prevent the Deadnet ransomware from encrypting additional files, it's important to remove it from your system, although removing it won't automatically restore affected data. The best solution is to recover files from a scanned and stored backup. It's highly recommended to scan the backups for ransomware and maintain them in various secure locations to safeguard your data. #Elastio #Ransomware #Resilience Learn more about Deadnet here... https://lnkd.in/eTcf-cXz

🦹♂️ ↗️ Ransomware is the one form of #cryptocurrency based crime on the rise so far in 2023. In fact, #ransomware attackers are on pace for their second-biggest year ever, having extorted at least US$449.1M through June. If this pace continues, ransomware attackers will extort US$898.6M from victims in 2023, trailing only 2021’s US$939.9M.  #Crypto #Crime Mid-year Update - https://buff.ly/3JZ16c6 Chainalysis #cybersecurity #canadiancybersecurity CANADIAN CYBERSECURITY INC.CANADIAN CYBERSECURITY INC.