US Senator Warren introduces bill to study crypto's role in ransomware
As cryptocurrency adoption continues apace in the United States, lawmakers want to better understand how it’s used — for both legal and illegal purposes. The Ransom Disclosure Act, introduced by Senator Elizabeth Warren and Congresswoman Deborah Ross, would require victims of ransomware attacks to disclose information about ransom payments to the Department of Homeland Security […]
New analysis sheds light on DOJ Bitcoin seizure, as JBS pays massive $11M ransom
JBS USA Holdings Inc. has paid an $11 million ransom in Bitcoin to cybercriminals as new details emerge over the FBI’s recovery of assets from a previous heist. The payment, estimated to be more than 300 BTC at current prices, was made to shield JBS factories from further disruption. The firm is the world’s largest […]
US officials recover $2.3M in crypto from Colonial Pipeline ransom
Officials with a United States government task force have seized more than $2 million in crypto used to pay for ransom following an attack on the Colonial Pipeline system. In a Monday press conference, Deputy Attorney General Lisa Monaco said that the task force “found and recaptured” millions of dollars worth of Bitcoin (BTC) connected […]
The perils of suing crypto exchanges after ransomware attacks
In October 2019, unknown hackers infiltrated a Canadian insurance company by installing the malware BitPaymer, which encrypted the firm’s data and IT systems. The hackers demanded a ransom of $1.2 million be paid in Bitcoin (BTC) in return for the decryption software needed for the firm to regain access to its systems. The firm’s United […]
Tether hit with 500 Bitcoin ransom demand — but says it won't pay
Hackers have threatened to release sensitive company documents supposedly belonging to USDT stablecoin issuer Tether unless the firm sends a 500 Bitcoin (BTC) ransom to a specified address. As revealed by the official Twitter account for Tether on Feb. 28, hackers purportedly threatened to leak documents that would “harm the Bitcoin ecosystem” if their ransom […]