Tag: Ransomware

Crypto ransom attack payments hit record $1 billion in 2023 – Chainalysis | Reuters

Payments from crypto-related ransom attacks nearly doubled to a record $1 billion in 2023, blockchain analytics firm Chainalysis said on Wednesday. Scammers targeting institutions such as hospitals, schools and government offices for ransom pocketed $1.1 billion last year, compared with $567 million in 2022. Source: Crypto ransom attack payments hit record $1 billion in 2023 – Chainalysis | Reuters

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World’s Biggest Bank ICBC Forced to Trade Via USB Stick After Russia-Linked Hack – Bloomberg

Industrial & Commercial Bank of China Ltd.’s US unit had been hit by a cyberattack, rendering it unable to clear swathes of US Treasury trades after entities responsible for settling the transactions swiftly disconnected from the stricken systems. That forced ICBC to send the required settlement details to those parties by a messenger carrying a thumb drive as the state-owned…

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SEC Charges Software Company Blackbaud Inc. for Misleading Disclosures About Ransomware Attack That Impacted Charitable Donors

The Securities and Exchange Commission today announced that Blackbaud Inc., a South Carolina-based public company that provides donor data management software to non-profit organizations, agreed to pay $3 million to settle charges for making misleading disclosures about a 2020 ransomware attack that impacted more than 13,000 customers. The SEC’s order finds that, on July 16, 2020, Blackbaud announced that the…

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White House Convenes Summit for Stopping the Spread of Ransomware

The U.S. White House brought together 36 countries and the EU for its second International Counter Ransomware Initiative (CRI) summit to counter the global spread of ransomware. Among other initiatives, the CRI plans to establish an International Counter Ransomware Task Force (ICRTF), share technical information about ransomware with a wide range of stakeholders and provide an “investigator’s toolkit” to CRI…

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Why Crime Could Kill Crypto – WSJ

One approach might be to make it harder to use or transfer cryptocurrency once stolen, much like suitcases filled with $1 million in cash are difficult to actually spend without getting noticed. The Biden administration is proposing to adopt the same requirement for crypto that all businesses have when they are paid more than $10,000 in cash—reporting it to the…

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How the FBI Got Colonial Pipeline’s Ransom Money Back – WSJ

After Colonial Pipeline Co. on May 8 paid roughly $4.4 million in cryptocurrency to hackers holding its computer systems hostage, the Federal Bureau of Investigation followed the digital money. Over the next 19 days, court records show, a special agent watched on a publicly visible bitcoin ledger as hackers transferred the 75 bitcoins to other digital addresses. A May 27…

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