Intelligent CISO Issue 31 | Page 16

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false infections or nonexistent system issues , then demand ( aka extort ) fees in order to enable “ removal ” of these fake artifacts . Eventually , these morphed into threats like PGPCoder and similar . These threats have much in common with modern ransomware , but there was still a weakness in the chain in the form of payment collection , processing , and management . When attackers had to rely on more tangible means of payment through legitimate conduits like Western Union , Perfect Money , and wire transfers , there was far more risk involved . These payment systems were easily traceable and prone to various points of failure .
The rise of cryptocurrency was the answer ransomware and other malware developers had been waiting for . Bitcoin and similar technologies allow for a far simpler , more streamlined and dynamic payment architecture for criminals , who could now use these blockchainbased currencies to control ransom demands over time , and collect and manage all payments digitally . Bitcoin , Litecoin , Monero and others also greatly obfuscate transactions , making it more difficult for law enforcement to tie transactions directly to individuals . Once cyber criminals fully embraced cryptocurrencies , ransomware was propelled into the model we see today .
Aside from demanding payment to decrypt files , ransomware operators may also threaten to publicly leak the victim ’ s data if payment is not made . This complicates the scenario in multiple ways : aside from dealing with the immediate problem of restoring access to files and services , organizations may have to declare a breach incident to regulators , could face regulatory fines , face reputation loss , legal action from clients , and the risk of sensitive data or IP leaking to competitors .
All these complications could remain in play regardless of whether the victim actually pays the initial ransom demand . The SentinelOne Complete Ransomware Guide will help you understand , plan for , respond to and protect against this now-prevalent threat . This guide offers examples , recommendations and advice to ensure you stay unaffected by the constantly evolving ransomware menace . u
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