Sophos gets startled by Sophos Encrypt Ransomware

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Cybersecurity firm Sophos has released a media update that it doesn’t have any association with the newly discovered Sophos Encrypt Ransomware and is busy investigating its whereabouts and inception.

A couple of days ago, MalwareHunter Team investigated and disclosed a new file encrypting malware variant named SophosEncrypt on the prowl. Initially it was thought to be an encryptor developed by the technical team of Sophos X-Ops for some testing. But now it is assumed to be a ‘Red Flag’ that is now under the lens of detailed investigation.

Meanwhile, researchers from the same firm have reported that 71% of companies on a worldwide note were infected by ransomware and how they are introducing different tactics to negotiate ransom payments.

Whatsoever, such payments are often concealed as it takes place between the victim and the attacker. That’s partly because the law enforcement agencies like FBI have issued a warning to victims not to make any payouts as it not only encourages crime, but doesn’t guaranty a decryption key for sure. All because such payments are made in cryptocurrency that remain anonymous and the funds can be availed from anywhere in the world.

NOTE- For the past few months, some web development companies in Australia, UK and Singapore are into the business of negotiating ransomware payments. These companies contact the victim and negotiate a deal that seems to work for the victim and the hacker in every way. But the practice has been identified by the Interpol and has been labeled as a crime. Thus, those companies (not the experts from security firms) that are into the business of negotiating ransom payouts will be eligible for prosecution and those involved in the said crime in any way or form are eligible for penalties or jail terms.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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