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The company's nearly $5 million ransom payment to hackers defies the conventional wisdom that companies shouldn't give in to cybercriminals' demands.
LockBit is a cybercriminal group proposing ransomware as a service (RaaS). Software developed by the group (also called ransomware) enables malicious actors who are willing to pay for using it to carry out attacks in two tactics where they not only encrypt the victim's data and demand payment of a ransom, but also threaten to leak it publicly if their demands are not met.
Victims of ransomware paid their attackers more than $1 billion last year, a new report has found, a record high.
San Bernardino County officials confirmed that hackers had been paid a $1.1-million ransom after a cyberattack on the Sheriff's Department, an unusual move for hacks involving law enforcement ...
The No More Ransom Project is an initiative by the Netherlands' police's National High Tech Crime Unit, Europol’s European Cybercrime Centre, Kaspersky Lab and McAfee to help ransomware victims recover their data without paying a ransom. [158] They offer a free CryptoSheriff tool to analyze encrypted files and search for decryption tools. [159]
Rhysida is a ransomware group that encrypts data on victims' computer systems and threatens to make it publicly available unless a ransom is paid. [1] The group uses eponymous ransomware-as-a-service techniques, targets large organisations rather than making random attacks on individuals, and demands large sums of money to restore data. [2]
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In 2023, Clop employs more complex attacks that make significant impacts and allow them to demand higher ransom payments. Specifically, the Clop gang targeted data theft by exploiting a zero-day vulnerability in MOVEit Transfer. Their objective is to overcome the overall decline in ransom payments by demanding substantial amounts from their ...