Why Cybercrime Losses Continue to Soar
Losses related to cybercrime have steadily climbed from $1.1 billion in 2015 to $3.5 billion in 2019, according to the FBIâs Internet Crime Complaint Center, or IC3. One reason why cybercrime losses are increasing is that there are more cyberattacks than ever before. In 2015, there were about 288,000 cybercrime-related complaints to the FBI. Complaints soared to 350,000 in 2018 and hit a whopping 467,000 in 2019, according to IC3 statistics…
Ex-Microsoft Employee Sentenced To 9 Years in Prison for Stealing $10 Million in Digital Currency
Sometimes the biggest threat to an organizationâs data and IT systems are the employees who work there. A 26-year-old Ukranian citizen who was found guilty of stealing millions of dollars in digital currency and using the proceeds to fund a lavish lifestyle was sentenced Monday by a federal judge in Seattle to nine years in prison and ordered to pay more than $8.3 million in restitution.
Double Extortion Ransomware May Be the New Normal
From July to September, a handful of new ransomware extortion websites emerged as cybercriminals embraced the tactic as a way to pressure organizations to pay demands, the report found. For example, several victims of the SunCrypt ransomware groupâincluding a school system and hospitalâhad their data exposed on a website launched in August. In late September, operators associated with the Egregor ransomware family started posting samples of stolen data online giving victims three days to pay the ransom before continuing the leak…
Ransomware Demands are Doubling Every Six Months, Study Finds
Just two years ago, ransomware was seen as a nuisance: For just a few thousand dollarsâand sometimes even lessâvictims could obtain decryption keys to unlock their data. Since then, the average payment demanded by ransomware operators has skyrocketed, reaching an astounding $178,254 in the second quarter of 2020, nearly quadruple the amount demanded in the same period one year earlier…
Hacker Directly Targets Patients Following a Data Breach at a Finnish Mental Health Provider
A data breach involving a mental health provider in Finland has devolved into a horrifying extortion scheme that includes the abuse of hypersensitive medical data. âItâs an indescribable feeling when you know that someone has information of your traumas and is willing to use it against you,â said one patient who received a ransom email over the weekend and asked not to be named given the sensitivity of the information involved. âI feel like I have once again taken a step back in my treatment. It hurts to know that my journey to better health might take even longer now.â
TrickBot Operators Show Signs of Pivoting After Takedown Attempt
U.S. Cyber Command and a team of companies and organizations led by Microsoft delivered a one-two punch in recent weeks against TrickBot, one of the worldâs largest botnets. In the last couple days, however, TrickBot spamming campaigns have started up again…
Is It OK to Pay a Ransomware Demand? Depends Who You Ask
The U.S. Department of the Treasury issued a pair of advisories last week that could potentially shake up how organizations respond to ransomware attacks. But departments and agencies have issued a patchwork of guidelines in recent years on how to approach the issue, which might lead to some head-scratching…
âBe Careful Who You Biteâ: An Interview With the Businessman at the Center of One of Russiaâs Biggest Treason Scandals
In 2013, Pavel Vrublevskyâs life turned upside down. After ten years of running a successful payments firm called ChronoPay, the Russian internet entrepreneur was convicted of orchestrating a distributed denial-of-service attack against a competing payments system used by Russian airline Aeroflot. Vrublevsky talked extensively with Recorded Future expert threat intelligence analyst Dmitry Smilyanets about this event and others in a recent interview…
Russian Hacker Nikulin Sentenced to Over 7 Years in Prison for Tech Industry Breaches
A Russian national was sentenced Tuesday afternoon for breaching several technology firms, capping a drawn-out legal battle that has involved competing extradition attempts, luxury sports cars, and delays due to the coronavirus outbreak…
Wire Transfer Scams Are Getting More Costly
Law enforcement officials have warned companies for years about the huge losses associated with business email compromise attacks, in which