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Ransomware Detections Up 90% for Businesses in 2017
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AnupG220
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AnupG220,
User Rank: Author
1/28/2018 | 8:40:53 PM
Stockpiling BItcoin for ransomware attacks
Funny how we all used to shake our colletive heads at the companies that would stockpile bitcoin in case they got hit with a ransomware attack. Now it looks like they made a smart investment if they were stockpiling for some time. Hopefully they didn't need to pay up!
BrianN060
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BrianN060,
User Rank: Strategist
1/25/2018 | 4:49:44 PM
What's the score? II
"Attackers started leveraging cryptocurrency mining for financial gain and using victims' system resources to mine currencies. Tactics include..."

You can add: disguising as ransomware. 

Cryptocurrency isn't the only means of processing a ransomware payoff; but the advantages are obvious.  Also obvious is that the proliferation of ransomware strains, attacks and attackers coincides with the emergence of cryptocurrencies. 

That a successful RW attack requires the same sort of unauthorized requisition of the victim's computing device's resources, as would enable cryptocurrency mining, is obvious, as well. 

In both cases, the characteristics and availability of cryptocurrency provide an unprecedented opportunity for cybercriminals. 

When you tally the costs of cybercrimes, where cryptocurrency provides a game-changing level of means, motive and opportunity, don't stop at the costs in RW payouts, or any of the costs to businesses which might be covered by insurance, but by the cost of that insurance - and all the other costs in money, resources, talent and attention that have increased as a result. 

Draw up a society-wide balance sheet, put the costs on one side, and the benefits of cryptocurrency on the other.  Then ask: What's the score?


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