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GovInfoSecurity Compliance DougOlenick) • May 25, 2021     Get Permission Iran is using its abundance of oil to generate electricity that powers a massive bitcoin cryptomining operation that enables the country to turn its greatest natural resource into money, offsetting some of its income lost as a result of U.S. and EU economic sanctions that ban imports from the country, according to cryptocurrency analysis firm Elliptic. Iran is home to about 4.5% of the world's bitcoin mining operations, and some of them are ...

Cyber Insurance: Higher Premiums, Limited Coverage Compliance Compliance Compliance Twitter Get Permission The increasing number of cyberthreats, especially ransomware attacks, is leading some cyber insurers to raise premiums and limit some coverage in hard-hit sectors, such as healthcare and education, according to a report from the Government Accountability Office. A GAO survey of cyber insurance brokers found that in 2020, about half of respondents reported premiums increased 10% to 30% for their clients. Plus, some insurers reduced the amount of coverage they provided in sectors seeing ...

Get Permission The threat posed by ransomware attacks, including the growth of cybercriminal cartels, double extortion schemes and big game hunting targeting larger organizations, requires an international response, Anne Neuberger, the deputy national security adviser for cyber and emerging technology, told attendees Tuesday at RSA Conference 2021. "International cooperation to address ransomware is critically important because transnational criminals are most often the perpetrators of these crimes, and they often leverage global infrastructure and money laundering networks to do so," Neuber...

Rise of DarkSide: Ransomware Victims Have Been Surging Compliance euroinfosec) • May 12, 2021     Count of known DarkSide victims from August 2020 to April 2021 (Sources: Mandiant, Sophos) For anyone wondering how a Russian-speaking, ransomware-wielding crime syndicate was able to disrupt a major U.S. fuel pipeline, a more pertinent question might be: Why didn’t it happen sooner? The DarkSide operation first appeared in August 2020 with a clear MO: To take down big targets in pursuit of massive ransom payoffs. Information security expe...

DarkSide's Pipeline Ransomware Hit: Strictly Business? Compliance euroinfosec) • May 11, 2021     "It's not personal, Sonny. It's strictly business." That immortal line from "The Godfather" encapsulates the mindset of criminals who extort businesses using ransomware and other tools: It's all about profits. "If the group behind these attacks does mean to 'avoid social consequences in the future,' they should stop carrying out attacks."  One of the gangs involved in such schemes has created a bigger than usual outcry because of its most ...