In Ransomware Battle, Bitcoin May Actually Be an Ally

Jeremy Kirk • June 17, 2021

Bitcoin has enabled fast payments to cybercriminals pushing ransomware. How to deal with bitcoin is the subject of a spirited debate, with some arguing to restrict it. But bitcoin doesn't always favor cybercriminals, and it may actually be more of an ally than a foe by revealing webs of criminality.

Fraud Management & Cybercrime

Behind the Scenes of a Business Email Compromise Attack

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Biometrics

P2P Payments: How to Balance Security and Convenience

Fraud Management & Cybercrime

Battling P2P Payments Fraud: A Team Approach

Turkish Police Probe Thodex Cryptocurrency Exchange

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Fraud Management & Cybercrime

ISMG Editors’ Panel: NATO's Cybersecurity Policy and More

Anna Delaney • June 18, 2021

In the latest weekly update, a panel of Information Security Media Group editors discusses key topics, including NATO's new cyber defense policy, the outlook for congressional regulatory action to address the ransomware threat, and cybersecurity comments by U.S. Rep. Jim Langevin.

Governance & Risk Management

Pay Attention to the Fine Print on 'War Exclusions' in Cyber Policies

Marianne Kolbasuk McGee • June 18, 2021

When seeking cyber insurance or other types of insurance policies that provide organizations with coverage for certain data security incidents, it's critical to carefully consider the "war exclusions" contained in those policies, says insurance attorney Peter Halprin.

Ransomware Roundup: Avaddon Exits; Clop Suspects Arrested

Anna Delaney • June 18, 2021

The latest edition of the ISMG Security Report features an analysis of the Avaddon ransomware gang's retirement and the crackdown on the Clop ransomware gang in Ukraine. Also featured: Bitcoin as ally in the ransomware battle; strengthening U.S. cybersecurity defenses.

Cybercrime

Law Enforcement's Cybercrime Honeypot Maneuvers Paying Off

Mathew J. Schwartz • June 18, 2021

The global law enforcement "Anom" honeypot operation racked up impressive statistics for the number of criminals tricked into using the encrypted communications service. Psychology was at play: Officials say users flocked to the service after they disrupted rivals EncroChat and Sky Global.

Cybercrime

How 'SEO Poisoning' Is Used to Deploy Malware

Prajeet Nair • June 16, 2021

SolarMarker malware operators are using "SEO poisoning" techniques to deploy the remote access Trojan to steal sensitive information, Microsoft reports.

Cybercrime

The Best of Virtual RSA Conference 2021

Information Security Media Group • June 15, 2021

With the RSA Conference virtual this year, ISMG replaced its two live on-site studios with a suite of home studios and produced a diverse group of interviews on timely topics with thought leaders who will be solving cybersecurity's most urgent problems.

Cybercrime

'Fear' Likely Drove Avaddon's Exit From Ransomware Fray

Mathew J. Schwartz • June 15, 2021

Based on Russian-language cybercrime chatter, "fear" likely drove the lucrative Avaddon ransomware-as-a-service operation to announce its retirement as the U.S. exerts increasing diplomatic pressure on Moscow to disrupt such activity, experts say. But are criminals simply laying low until the heat dies down?

Fraud Management & Cybercrime

Will Ransomware Attacks Push Congress to Enact Regs?

Scott Ferguson • June 14, 2021

After hearings in the Senate and House on a spate of ransomware attacks that have put the nation's critical infrastructure in danger, some security experts say Congress may be poised to take action to create greater regulatory oversight of cybersecurity within certain industries.

Cybercrime

Avaddon Ransomware Operation Calls It Quits, Releases Keys

Mathew J. Schwartz • June 14, 2021

The prolific Avaddon ransomware-as-a-service operation has announced its closure and released 2,934 decryption keys for free. Has the increased focus by Western governments on combating ransomware been driving this and other operations to exit the fray?

Breach Notification

McDonald's Breach Exposes Korean, Taiwanese Customer Data

Doug Olenick • June 12, 2021

Fast-food giant McDonald's is acknowledging a data breach that affected some customer and company data from its locations in Korea and Taiwan. Phone numbers, delivery and email addresses were exposed. Payment data, however, has not been compromised.

Blockchain & Cryptocurrency

How Did FBI Recover Colonial Pipeline's DarkSide Bitcoins?

Mathew J. Schwartz • June 11, 2021

Cryptocurrency has a reputation for being tough to trace - no wonder anonymity-craving criminals favor using it. In reality, cryptocurrencies don't make users anonymous. But just how did the FBI recover most of the bitcoins paid by Colonial Pipeline to the DarkSide ransomware operation?

3rd Party Risk Management

ISMG Editors' Panel: The FBI's Global Cryptophone Sting

Anna Delaney • June 11, 2021

Criminals tricked into using an FBI-run encrypted messaging app, Verizon's 2021 Breach Investigations Report and overcoming the challenges of recruiting cybersecurity professionals are among the latest cybersecurity topics to be featured for analysis by a panel of Information Security Media Group editors.