A brand new report by two cybersecurity corporations has revealed that one ransomware household is especially profitable, raking in over $150 million in bitcoin. The ransom funds “generally quantity to thousands and thousands of {dollars} and sometimes run within the tons of of hundreds vary.”
Ransomware Makes $150 Million in Bitcoin
The Ryuk ransomware household has raked in $150 million in bitcoin, based on a joint report by cybersecurity corporations Superior Intel and Hyas. “The Ryuk household of ransomware has been notably profitable in financial phrases in addition to having a disruptive influence on many industries around the globe,” the report authors described, including:
Our analysis concerned tracing funds involving 61 deposit addresses attributed to Ryuk ransomware. The Ryuk criminals ship a majority of their bitcoin to exchanges by means of an middleman to money out.
The ransomware household Ryuk was first found within the wild in August 2018. Its targets are typically high-profile organizations, together with hospitals and newspapers.
The report authors defined that “Vital volumes of bitcoin transfer from the laundering service to Binance, Huobi, and crime markets that we have now recognized by means of traced funds.” In addition to the 2 crypto exchanges, “there are important flows of cryptocurrency to a group of addresses which can be too small to be a longtime trade and doubtless signify a criminal offense service that exchanges the cryptocurrency for native forex or one other digital forex.”
Moreover, the report notes that “Ryuk receives a big quantity of their ransom funds from a widely known dealer that makes funds on behalf of the ransomware victims. These funds generally quantity to thousands and thousands of {dollars} and sometimes run within the tons of of hundreds vary,” including:
After tracing bitcoin transactions for the identified addresses attributable to Ryuk, the authors estimate that the prison enterprise could also be price greater than $150,000,000.
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