Spanish authorities arrested three senior executives of the now-defunct cryptocurrency exchange platform Bitzlato, Europol announced. The crime coordination agency says about 46% of the assets exchanged through Bitzlato, worth roughly 1 billion euros, were linked to criminal activities.
Australia started operating an international ransomware task force to facilitate information sharing and best practices worldwide. “Recent cyber incidents in Australia and around the globe are a stark reminder of the insidious nature of ransomware," said Minister for Home Affairs Clare O'Neil.
Bad news for ransomware groups: Experts find it's getting tougher to earn a crypto-locking payday at the expense of others. The bad guys can blame a move by law enforcement to better support victims, and more organizations having robust defenses in place, which makes them tougher to take down.
The Active Adversary Playbook 2022 details the main adversaries, tools, and attack behaviors seen in the wild during 2021 by Sophos’ frontline incident responders.
You’ll learn:
The anatomy of active attacks including root causes and main attack types
The toolsets adversaries have been employing to...
In the latest weekly update, ISMG editors discuss why being a CISO is like being the first family doctor in a small village, why you can't trust ransomware gangs such as LockBit, and why cloud security vendor Netskope took on $401 million in debt from Morgan Stanley to fuel its SASE offering.
The average cost of downtime from a ransomware attack is $126k, which could be detrimental to a small business's success. The reliance on manual backup recovery further amplifies the vulnerability of organizations. This presents a compelling opportunity for MSPs to offer a solution and mitigate the impact of such...
RiskRecon recently studied the impact of destructive ransomware incidents and the unique tie between ransomware susceptibility and an organization's cybersecurity posture. Kelly White of RiskRecon discusses the findings and how to use them to help secure the digital supply chain.
The United Kingdom's Royal Mail says it can again deliver simple letters to international destinations as it enters a second week of grappling with the fallout of a ransomware attack. It is testing operational workarounds to reduce its backlog of packages to be delivered.
The total amount of ransom payments being sent by victims to ransomware groups appears to have taken a big dip, declining by 40% from $766 million in 2021 to $457 million in 2022 due to victims simply being unwilling to pay, blockchain intelligence firm Chainalysis reports.
The former head of the U.K.'s National Cyber Security Centre warns that destructive ransomware targeting large enterprises is likely to surge in 2023, adding that recent attacks on Royal Mail and The Guardian newspaper are examples of these early-stage attacks.
An international sting operation on Tuesday shut down the operations of cryptocurrency exchange Bitzlato Ltd. as FBI agents hauled co-founder Anatoly Legkodymov into a Miami jail to face U.S. federal charges of conducting an unlicensed money-transmitting business.
Ransomware syndicates continue to earn massive profits for criminals while disrupting victims' operations worldwide. Security researchers tracking known victims say their numbers remain unchanged from 2021 to 2022, as attackers tap abundant cybercrime services to help amass fresh victims.
The U.S. federal government put the healthcare sector on alert for indicators of BlackCat and Royal ransomware, characterizing them as "highly capable" threats. The good news, says a cybersecurity expert, is that a solid defense-in-depth strategy can foil the ransomware-as-a-service groups.
Three Australian law firms teamed up in a bid to have private health insurer Medibank pay victims of a data breach caused by Russian ransomware hackers up to $20,000 per person. Hackers late last year staged data leaks of stolen medical treatment data to maximize humiliation.
The notorious LockBit 3.0 ransomware group runs just like a business, focusing on recruiting top talent and maintaining an advanced product - which has led to the group's longevity. But the operators' insecurities could be key to the group's undoing, says security researcher Jon DiMaggio.
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