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The Extortion Economy: Inside the Shadowy World of Ransomware Payouts


Bleicher, managing director at cybersecurity consulting firm Arete Incident Response, is a specialist who helps companies deal with ransomware the type of cyberattack in which hackers lock up a company s computers and then demand payment to undo the encryption.
He has given CNBC a rare and exclusive look inside a shadowy world where American companies find themselves paying millions of dollars to known criminals.
It s a corner of the criminal underworld that has seen explosive growth. According to a report by Chainalysis, the total amount paid by ransomware victims increased by 336% in 2020 to reach nearly $370 million worth of cryptocurrency.
And some big players are scoring huge gains: The report found the digital hostage-takers are dominated by large players who are raking in millions of dollars a year. Just 199 cryptocurrency deposit addresses receive 80 percent of all funds sent by ransomware addresses in 2020, Chainalysis found. ....

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SolarWinds Attackers Focused on Cyber and Tech Firms


SolarWinds Attackers Focused on Cyber and Tech Firms
Whether it was opportunity, strategy or sheer chutzpah, the suspected Russian hackers behind a massive cyber-attack revealed last month focused particular attention on technology companies, including cyber-security firms entrusted to find malicious activity in their clients’ networks.
Four cyber-security companies announced this week that they had been targeted as part of the attack, adding to a list of at least eight other tech companies that the hackers tried to breach. Many of the companies said they successfully blocked the attackers, but some others acknowledged that their networks were infiltrated.
Related:
The hackers may have focused on technology and cyber-security companies simply because, after government agencies, they were the next best targets. For hackers, cyber-security companies represent the gatekeepers guarding the computer networks they so desperately wish to exploit, said Allan Liska, senio ....

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SolarWinds Attackers Hit Strategic Targets: Cyber and Tech Firms


SolarWinds Attackers Hit Strategic Targets: Cyber and Tech Firms
Four cybersecurity companies announced this week that they had been targeted as part of the attack, adding to a list of at least eight other tech firms.
Bloomberg | Jan 29, 2021
Kartikay Mehrotra and Alyza Sebenius (Bloomberg) Whether it was opportunity, strategy or sheer chutzpah, the suspected Russian hackers behind a massive cyber-attack revealed last month focused particular attention on technology companies, including cybersecurity firms entrusted to find malicious activity in their clients’ networks.
Four cybersecurity companies announced this week that they had been targeted as part of the attack, adding to a list of at least eight other tech companies that the hackers tried to breach. Many of the companies said they successfully blocked the attackers, but some others acknowledged that their networks were infiltrated. ....

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