Cyber ​​attacks: few victims pay hackers for this reason

(Bloomberg). Despite this weekend’s unprecedented cyberattack , most of the Victims have not paid a ransom to the hackers. Why has this happened?

After the ransomware began infecting victims’ computers on Friday, they were given 72 hours to pay US$300 in bitcoins – method chosen by hackers because the crypto currency is harder to trace than conventional payments – or pay double that amount. If they refused to pay after seven days, their computer would be permanently locked, a serious problem for those who have not backed up their files.

As of early Monday morning, they had only paid about $50,000 in ransoms, according to Elliptic Enterprises Ltd., a London-based company that tracks the illicit use of bitcoins. The company calculated the total based on payments traced to the bitcoin addresses specified in the ransom demands, adding that it expects the total to increase.

“The amount is really low” said Michela Menting, director of digital security research at ABI Research. “This is probably due to the fact that organizations have started their backup and recovery procedures.”

On the other hand, for those who did not back up their data, pay a ransom It’s not like buying something from Amazon by providing credit or debit card information. Although hackers provide a useful link for those who haven’t paid with bitcoins, the crypto currency is unknown to most people.

“If someone receives an instruction to pay a certain amount in bitcoin, most people don’t know where to start,” said James Smith, CEO and co-founder of Elliptic.

Cyber ​​attack affects to 75,000 computers in 99 countries
Telefónica case: How important is cybersecurity?

There are several steps. First of all, a person or company has to obtain the bitcoins by registering in one of the various online marketplaces and going through their verification process. After that, the money can be deposited in the market. And for those who live in countries that do not have a market, including the UK, the money must be converted to another currency.

Once the money is deposited in the market, the bitcoins can be sent to the address provided by the extortionist. “It seems like a long and confusing series of texts,” Smith said. After paying the ransom, the hackers allegedly release the infected computer.

Telefónica hackers: If my Internet is Movistar, am I at risk?
► This is how Telefónica Perú is being affected by hacker attacks

“It’s kind of hard to get a lot of bitcoin quickly,” said Alex Sunnarborg, an analyst at bitcoin research firm CoinDesk. He added that it can take a few days to create an account at a bitcoin brokerage or market, connect it to a bank account, and then receive the bitcoins.

A notable difference with this attack is that the The hackers demanded a relatively small amount of money, but from a large number of people, said James Chappell, chief technology officer and co-founder of the British security firm Digital Shadows.

Although it is More difficult than tracing a traditional bank payment, keeping track of bitcoin payments will help authorities try to track down those responsible. It’s nearly impossible to tell who’s responsible based on the bitcoin addresses they give to victims, according to Elliptic, but once the bitcoins are transferred from that address, they can be traced, which could help track down the victims. the culprits.


Note: This article has been indexed to our site. We do not claim legitimacy, ownership or copyright of any of the content above. To see the article at original source Click Here

Related Posts
Gilbane creates new tech-oriented role thumbnail

Gilbane creates new tech-oriented role

Dive Brief: Providence, Rhode Island-based Gilbane Building Co. has appointed two executives to technology-focused positions, one of which is a new role for the firm. Alex Gutman has been named chief technology officer and Rawle Sawh has been named director of operations technology, the company announced on April 20. Sawh’s role was newly created as
Read More
Pomp tells CNBC there's no need to apologize for Bitcoin's energy use thumbnail

Pomp tells CNBC there’s no need to apologize for Bitcoin’s energy use

The Bitcoin podcaster and influencer said, “We shouldn’t apologize for Bitcoin’s energy usage — crucial things in the world use energy.” 5448 Total views 33 Total shares Bitcoin (BTC) influencer and podcaster Anthony “Pomp” Pompliano said that there is no need to “apologize” for Bitcoin’s energy use, because “crucial things in the world use energy.”…
Read More
Cardano Grows Block Size by 11% to Meet Scaling Challenges thumbnail

Cardano Grows Block Size by 11% to Meet Scaling Challenges

Cardano has announced technical improvements to deal with reported congestion. Key Takeaways Cardano is increasing its block size from 72KB to 80KB. Plutus script memory units will also get a bump. The updates are set to ship this Friday. Cardano is aiming to become more scalable this year in a bid to catch up with…
Read More
Sony’s takeover of Zee Entertainment will create India’s biggest broadcaster thumbnail

Sony’s takeover of Zee Entertainment will create India’s biggest broadcaster

Two of India’s largest media companies are joining forces in a bid to dominate Indian entertainment, and take on global giants.Zee, India’s largest listed television network, is selling a majority stake of 51% to Sony Pictures Networks India, a subsidiary of Japanese conglomerate Sony. The two have “signed definitive agreements” to “combine their linear networks, digital…
Read More
Senate Says Govt Agencies, Military Owe Electricity Firms thumbnail

Senate Says Govt Agencies, Military Owe Electricity Firms

The Nigerian Senate Senate Says Govt Agencies, Military Owe Electricity Firms The Federal Government has said that the cost of electricity consumption in Nigeria is among the cheapest and most defaulted by consumers in the world. This came as the Chairman of the Senate Committee on Power, Senator Gabriel Suswam, said Electricity Distribution Companies had
Read More
Index Of News
Consider making some contribution to keep us going. We are donation based team who works to bring the best content to the readers. Every donation matters.
Donate Now

Subscription Form

Liking our Index Of News so far? Would you like to subscribe to receive news updates daily?