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Baltic Honeybadger 2017 • November 25-26, 2017

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Tag: ransomware

North Korean Spearphishing Sets Sights on South Korean Cryptocurrency Targets

Category: Bitcoin, News

North Korean Spearphishing Sets Sights on South Korean Cryptocurrency Targets

As bitcoin and other digital currencies emerge as a new and valuable asset class, North Korean cyber criminals are also realizing a new means of state funding. Unhinging a Global Financial System Kim Jong-Un has been featured in the news as exclusively an intemperate world leader with nuclear capabilities. His confrontations with President Trump have sparked global concerns as to…

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Ransomware Victims Pay $9,000 in Bitcoin, Receive No Decryption Keys

Category: Bitcoin, News, Tech

Ransomware Victims Pay $9,000 in Bitcoin, Receive No Decryption Keys

On June 27, global ransomware Petya encrypted the computers of victims concentrated in Europe, including the Ukrainian government, banks, a Russian oil company, British advertising company WPP and other organizations internationally. Sources revealed that the developers and distributors behind the Petya ransomware demanded individual victims to pay $300 in bitcoin in return for a personal decryption key that is necessary…

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Regulations Are Making it Difficult for Cybersecurity Firms to Transact in Bitcoin

Category: Bitcoin, News, Regulation

Regulations Are Making it Difficult for Cybersecurity Firms to Transact in Bitcoin

Due to bitcoin’s pseudo-anonymous nature, which makes it difficult to link transactions to the individuals conducting them, bitcoin has become the new go-to ransom payment method in ransomware attacks. This development has led cybersecurity firms to buy and store bitcoin in case their clients decide to pay the ransom. However, regulations are making it increasingly difficult for cybersecurity specialists to…

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The Disney Ransom Saga: Is Bitcoin Really The Cause?

Category: Bitcoin, Commentary, News, Tech

The Disney Ransom Saga: Is Bitcoin Really The Cause?

The Disney film studio’s announcement of hackers threatening to release one of their movies unless a bitcoin ransom is paid has once again unleashed a flurry of media attention targeting cryptocurrency as a tool for nefarious acts. Disney CEO Bob Iger in a statement on May 15 asserted that the film company has no intent of complying with the ransom…

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WannaCry Ransomware Infects Computers Across The Globe, Despite Kill Switch Discovery

Category: Bitcoin, News, Tech

WannaCry Ransomware Infects Computers Across The Globe, Despite Kill Switch Discovery

WannaCry ransomware, a malicious malware tool, initiated a worldwide cyber attack that was launched 12 May, 2017, infecting upwards of 200,000 computers in 99 countries asking for ransoms in the cryptocurrency bitcoin. In nearly 30 languages the ransomware is reportedly holding its digital victim’s operating systems hostage, with a demand of a substantial amount of bitcoin equivalent to $300 in…

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Banks Join Long List of Firms Stockpiling Bitcoin to Mitigate Cyber Attacks

Category: Bitcoin, Business, News, Tech

Banks Join Long List of Firms Stockpiling Bitcoin to Mitigate Cyber Attacks

It is nothing new that the cryptocurrency bitcoin has been used regularly in ransomware attacks as a means for hackers to secure anonymous payments from their targets. What is new, however, is that major banks have now started to stockpile bitcoin in order to mitigate potential future ransomware attacks by cyber criminals. Many businesses have concluded that it is simply…

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Cyber Threat Alliance: CryptoWall Earns US$325 Million from 400,000 Successful Infections

Category: Business, News, Tech

Cyber Threat Alliance: CryptoWall Earns US$325 Million from 400,000 Successful Infections

The world’s most popular anti-virus service providers, Symantec Corp, Intel Security, Palo Alto Networks and Fortinet, have formed a cyber-security group named Cyber Threat Alliance (CTA) to explore the evolution and impact of aggressive CryptoWall ransomware. The first published report of the CTA entitled “Lucrative Ransomware Attacks: Analysis of the CryptoWall Version 3 Threat” provides financial institutions and tech organizations…

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Apple Introduces Cryptographic Libraries to Protect Apps with Advanced Security Protocols

Category: Business, News, Tech

Apple Introduces Cryptographic Libraries to Protect Apps with Advanced Security Protocols

On October 29, Apple announced the launch of its cryptographic libraries called corecrypto library, allowing third-party developers to improve the security measures and add additional security protocols in iOS and OS X applications. The decision of Apple to integrate new security protocols comes after the efforts of other major technology firms, including Intel and Symantec, to explore various hacking tools…

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