Security News
The American Radio Relay League (ARRL) paid a $1 million ransom for a decryptor that helped restore systems encrypted in a May ransomware attack [...]
Fraudsters can add stolen payment cards to digital wallet apps and continue making online purchases even after victims' report the card stolen and the bank blocks it, computer engineers with University of Massachusetts Amherst and Pennsylvania State University have discovered. Adding the card to a different wallet and making fraudulent purchases is made possible by the trust banks have in the digital wallet apps' security mechanisms.
Google is notifying Russian YouTubers, bloggers, and publishers that their Adsense accounts are being deactivated and can no longer be used for advertising. [...]
U.S. and German law enforcement seized the domain of the crypto wallet platform Cryptonator, used by ransomware gangs, darknet marketplaces, and other illicit services, and indicted its operator. [...]
India's central bank on Wednesday proposed a requirement for dynamically generated second authentication factors for most digital payments. "Reserve Bank of India had mandated additional factor of authentication for all transactions undertaken using cards, prepaid instruments and mobile banking channels," explained the central bank.
"Our report delivers a clear message: ransomware attacks will continue, be more severe than predicted, and the overall impact will cost organizations more than they expect. Organizations must take action to ensure cyber resiliency and acknowledge that rapid, clean recovery matters most," added Russell. Despite increased focus on cyber-preparedness, organizations still face a misalignment between their backup and cyber teams.
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Japanese police placed fake payment cards in convenience stores to protect the elderly targeted by tech support scams or unpaid money fraud. The cards are labeled "Virus Trojan Horse Removal Payment Card" and "Unpaid Bill Late Fee Payment Card," and were created by the Echizen Police in the Fukui prefecture in Japan as an alert mechanism.
Ransomware actors have had a rough start this year, as stats from cybersecurity firm Coveware show companies are increasingly refusing to pay extortion demands, leading to a record low of 28% of companies paying ransom in the first quarter of 2024. It is essential to note that despite the drop in the payment rate, the amount paid to ransomware actors is higher than ever before, reaching $1.1 billion last year, according to a Chainalysis report.
More organizations hit by ransomware gangs are starting to realize that it doesn't pay to pay up: "In Q1 2024, the proportion of victims that chose to pay touched a new record low of 28%," ransomware incident response firm Coveware has found. "LockBit was found to still be holding the stolen data of victims that had paid a ransom, and we have also seen prior Hive victims that had paid the extortion, have their data posted on the Hunters International leak site," the company said, noting that "Future victims of data exfiltration extortion are getting more evidence daily that payments to suppress leaks have little efficacy in the short and long term."