Catalin Cimpanu reports: A report published today by blockchain investigations firm Chainalysis confirms that cybercrime groups engaging in ransomware attacks don’t operate in their own bubbles but often switch ransomware suppliers (RaaS services) in a search for better profits. The report analyzed how Bitcoin funds were transferred from victims to criminal groups, and how the…
Category: Commentaries and Analyses
Terra Quantum AG Company Says It Found Weakness That Imperils Encryption
Ryan Gallagher reports: Security experts have long worried that advances in quantum computing could eventually make it easier to break encryption that protects the privacy of people’s data. That’s because these sophisticated machines can perform calculations at speeds impossible for conventional computers, potentially enabling them to crack codes previously thought indecipherable. Now, a Swiss technology…
The Eleventh U.S. Circuit Weighs in on Data Breach Standing Issues
Alfred Saikali of Shook, Hardy & Bacon L.L.P. writes: Yesterday, in a 26-page opinion, the 11th U.S. Circuit Court of Appeals has weighed in on two important questions in the world of privacy and data breach litigation. First, does a plaintiff have standing where he was exposed to a substantial risk of future identity theft, even…
How the United States Lost to Hackers
Nicole Perlroth reports: If ever there was a sign the United States was losing control of information warfare, of its own warriors, it was the moment one of its own, a young American contractor, saw first lady Michelle Obama’s emails pop up on his screen. For months, David Evenden, a former National Security Agency analyst,…
The National Cyber Investigative Joint Task Force Releases Ransomware Fact Sheet
The National Cyber Investigative Joint Task Force (NCIJTF) has released a new joint-seal ransomware fact sheet. This educational product is intended to provide the public important information on the current ransomware threat and the government’s response, as well as common infection vectors, tools for attack prevention, and important contacts in the event of a ransomware…
Rise in ransomware attacks mistakenly causing data destruction
Ionut Ilascu reports: More and more ransomware victims are resisting the extortionists and refuse to pay when they can recover from backups, despite hackers’ threats to leak the data stolen before encryption. This stance resulted in Q4 of 2020 seeing a significant decline in the average ransom payments compared to the previous quarter, says ransomware…