Ransomware payments work in some cases say experts

During the Central Banking Summer Meetings 2024 in London, a group of security analysts explored the contentious issue of ransomware payments. They suggested that, in many cases, paying off hackers who spread ransomware may indeed yield results, given the alarming frequency of attacks involving data theft. This stolen information often ends up either leaked online […]

Ransomware payments reached $1 billion in 2023

In the year 2023 alone, hackers behind the rampant spread of ransomware amassed a staggering $1 billion in ransom payments, as disclosed by a comprehensive study conducted by blockchain research firm Chainalysis. This alarming figure, equivalent to the annual budget of several small Asian nations, marks a significant spike compared to previous years, doubling from […]

Considerations to be made when dealing with Ransomware Payments

When a server falls victim to a ransomware infection, the urgency to regain access to critical data often leads to a difficult decision: paying the hackers’ demands. However, the reliability of ransomware criminals in conducting their “business” is far from guaranteed. Are Ransomware Payments Legal? First and foremost, it’s essential to understand that paying a […]

New disputes to arise from ransomware payments ban

As the law enforcement agencies are urging ransomware victims not to make any ransom payment to hackers, as it not only encourages crime but also doesn’t guarantee a decryption key for sure in exchange for the payment. Some security analysts say that this could give rise to fresh troubles to businesses and their owners on […]

Ransomware payments and downtime grew in 2019

Ransomware which is a file-encrypting malware has been tagged as the most disruptive cyber-attack of 2019. And this was confirmed by a study carried out by Connecticut based Cybersecurity firm Coverware. In a recent Ransomware Marketplace report released by Coverware, the downtime caused by the malware is reported to have grown by 60% in the […]

Over 20K Chinese PCs infected with a new ransomware variant

Ransomware news is out that over 20,000 personal computers in China are infected by a new ransomware variant which encrypts files until a ransom of 110 Yuan or $16 is paid via WeChat’s payment service- available exclusively in China and its provinces. As of now, sources say that the developers of the said malware are […]

UK banks to roll out Name Check Safeguard feature to curb fraudulent transactions

To all those online banking users in the UK, here’s some news to rejoice. At last the banking association in the UK has given a nod to implement ‘Name Check Safeguard’ feature from next year to help fight fraud and alert bank customers to suspicious transactions. Now, to those who aren’t aware of this feature- […]

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