CEO On Ransomware Gang Is Auctioning Off Victims’ Confidential Data

By   ISBuzz Team
Writer , Information Security Buzz | Jun 03, 2020 08:48 am PST

Ransomware groups are joining forces to share advice, tactics, and a centralized data leak platform, so that ransomware operations can focus more on creating more sophisticated attacks and successful extortion attempts.

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Ilia Kolochenko
Ilia Kolochenko , Founder and CEO
June 3, 2020 4:50 pm

An Interesting trend that one may observe in today\’s cybercrime landscape are fake threats to publish allegedly stolen data. Many organizations, whose business largely depends on its reputation, are well prepared to pay a fortune to avoid negative publicity.

Another relatively new but rapidly growing scenario is exaggeration of nature or value of data stolen and encrypted by a ransomware. Organizations have limited visibility of their \’attack surface\’, including corporate data which is chaotically dispersed across organization’s computers and servers. Once a machine is hacked and encrypted, victims may well believe that attackers will find a backup of their database, critical source code or other important trade secrets. However, prior to paying a ransom, you should carefully investigate, analyze and assess the situation to avoid falling victim to manipulative fraudsters.”

Sadly the coronavirus pandemic has pushed many beginners in the IT field to become cybercriminals amid unemployment and lack of finding a well-paid job in their field. Thus, we will likely see a surge of fake extortion campaigns ventured by the newbies and aimed to strip organizations out of cash in a simple and swift manner.

Last edited 3 years ago by Ilia Kolochenko

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