Remove 2019 Remove Cryptocurrency Remove Ransomware
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Ransomware Profitability

Schneier on Security

Analyzing cryptocurrency data, a research group has estimated a lower-bound on 2020 ransomware revenue: $350 million, four times more than in 2019. Ransomware is now an established worldwide business. Slashdot thread.

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Disrupting Ransomware by Disrupting Bitcoin

Schneier on Security

Ransomware isn’t new; the idea dates back to 1986 with the “Brain” computer virus. This is where the suggestion to ban cryptocurrencies as a way to “solve” ransomware comes from. In this light, banning cryptocurrencies like bitcoin is an obvious solution.

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Alleged Co-Founder of Garantex Arrested in India

Krebs on Security

Authorities in India today arrested the alleged co-founder of Garantex , a cryptocurrency exchange sanctioned by the U.S. Launched in 2019, Garantex was first sanctioned by the U.S. government in 2022 for facilitating tens of billions of dollars in money laundering by transnational criminal and cybercriminal organizations.

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US charged Dual Russian and Israeli National as LockBit Ransomware developer

Security Affairs

US authorities charged a dual Russian and Israeli national for being a developer of the LockBit ransomware group. Rostislav Panev, 51, a dual Russian-Israeli national, was charged as a LockBit ransomware developer. The man is accused of being a LockBit ransomware developer from 2019 through at least February 2024.

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On the Dangers of Cryptocurrencies and the Uselessness of Blockchain

Schneier on Security

Earlier this month, I and others wrote a letter to Congress, basically saying that cryptocurrencies are an complete and total disaster, and urging them to regulate the space. Nothing in that letter is out of the ordinary, and is in line with what I wrote about blockchain in 2019. But the core technology is absolutely not useless.

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Russian Phobos ransomware operator faces cybercrime charges

Security Affairs

Russian Phobos ransomware operator Evgenii Ptitsyn, accused of managing attacks, was extradited from South Korea to the US to face cybercrime charges. Russian Phobos ransomware operator Evgenii Ptitsyn, suspected of playing a key role in the ransomware operations, was extradited from South Korea to the US to face cybercrime charges.

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Romanian national was sentenced to 20 years in prison for his role in NetWalker ransomware attacks

Security Affairs

Romanian national was sentenced to 20 years in prison for his role in NetWalker ransomware attacks, pleading guilty to fraud charges in June. Romanian national Daniel Christian Hulea, 30, was sentenced to 20 years in prison for his role in NetWalker ransomware attacks. in cryptocurrency obtained from ransom payments.