Jan 10, 2021 08:11 UTC
Jan 10, 2021 at 08:11 UTC
In BTC the Bitcoin Ransomware Rakes in $150 million
A new report by 2 cybersecurity companies has disclosed that one ransomware family is especially thriving, raking in over $150 million in bitcoin. The ransom payments “sometimes quantity to a lot of greenbacks and generally run within the many thousands vary.”
Ransomware Makes $150 Million in Bitcoin
The Ryuk ransomware family has raked in $150 million in bitcoin, in step with a joint report by cybersecurity companies Advanced Intel and Hyas. “The Ryuk family of ransomware has been significantly thriving in economic terms also as having a unquiet impact on several industries round the world,” the report authors represented, adding:
Our analysis concerned tracing payments involving sixty one deposit addresses attributed to Ryuk ransomware. The Ryuk criminals send a majority of their bitcoin to exchanges through AN go-between to live.
The ransomware family Ryuk was initial discovered within the wild in August 2018. Its targets tend to be high-profile organizations, as well as hospitals and newspapers.
The report authors explained that “Significant volumes of bitcoin move from the wash service to Binance, Huobi, and crime markets that we’ve known through copied payments.” Besides the 2 crypto exchanges, “there square measure important flows of cryptocurrency to a group of addresses that square measure too tiny to be a longtime exchange and doubtless represent against the law service that exchanges the cryptocurrency for native currency or another digital currency.”
Furthermore, the report notes that “Ryuk receives a major quantity of their ransom payments from a well known broker that creates payments on behalf of the ransomware victims. These payments generally quantity to a lot of greenbacks and generally run within the many thousands vary,” adding:
After tracing bitcoin transactions for the known addresses owing to Ryuk, the authors estimate that the criminal enterprise could also be value over $150,000,000.