RANSOM SOFTWARE
Hackers are targeting something the world can't do without: Food
A series of cyberattacks have affected supermarket refrigeration systems in multiple European countries, leading to food spoilage. These attacks, described as deliberate attempts to disrupt the food supply chain, raised concerns among retailers and consumers alike. Various security vulnerabilities in connected refrigerated systems have been exploited, underscoring the need for better cybersecurity measures. No group has claimed responsibility for the attacks; however, state backing is being investigated.
Largescale cyberattacks test the limits of insurance cover
While businesses rush to enhance their cyber insurance cover, the incidents have triggered a debate over whether existing policies adequately cover emerging cyber risks. The biggest question insurers are policyholders seem to be confronting is: who pays when a vulnerability exposes thousands of organisations to the same threat?
One password, 700 jobs lost: How a ransomware attack crushed a 158-year-old UK firm
A single weak password led to the downfall of KNP, a 158-year-old UK transport company, resulting in 700 job losses. The Akira ransomware group encrypted KNP's systems, demanding a £5 million ransom the company couldn't afford.
UK plans to ban public sector bodies from paying ransom to cyber criminals
Britain is set to prohibit public sector bodies and critical infrastructure operators from paying ransom demands to cybercriminals, following a series of high-profile ransomware attacks, including those targeting the NHS and British Library. The government aims to dismantle the cybercriminal business model and safeguard essential services by implementing a ransomware payment prevention regime and mandatory incident reporting.
Cybercrime rate rises, victims lost whopping $16 billion. Here are top scams that duped people
Losses from cybercrime are notoriously hard to calculate. The FBI's figures are among the most comprehensive, but the bureau acknowledged that its calculations were incomplete
Medusa Ransomware Threat: What do the FBI and CISA warn Gmail and Outlook users about?
Federal agencies have warned users of Gmail, Outlook and similar services about Medusa ransomware. This cyber threat has affected over 300 victims in industries like healthcare, education and technology. Attackers use phishing and software vulnerabilities to breach data.
Cybercriminals target SMEs as large companies beef up security
Attacks onsmall and medium enterprises (SMEs) (with 100-5,000 employees) have significantly risen in India and accounted for nearly half of all such incidents in 2023. Among large organisations, only 10% of those attacked paid ransom, whereas with SMEs, 44% ended up paying amounts ranging between $25,000 and $100,000, according to data from cybersecurity firms.
UPI, IMPS, retail payments of some banks temporarily unavailable due to ransomware attack on tech-provider
UPI payments: Ransomware attack on C-Edge Tecnologies who manages systems of certain specified banks. As per NPCI's advisory note, "To prevent larger impact to the payment ecosystem, NPCI has temporarily isolated C-Edge Technologies from accessing the retail payment systems operated by NPCI. Customers of banks serviced by C-Edge will not be able to access payment systems during the period of isolation."
Cyber attack compromised Indonesia data centre, ransom sought: report
Indonesia's communication ministry on Monday said, the attack disputed some government services, most notably at aiports though automated machines were not functional. The Lockbit cybercrime group is notorious for using malicious software called ransomware to digitally extort its victims. They used a new variant of existing malicious software called Lockbit 3.0.
Crypto ransom attack payments hit record $1 billion in 2023: Chainalysis
Payments from crypto-related ransom attacks nearly doubled to a record $1 billion in 2023, blockchain analytics firm Chainalysis said on Wednesday.
Crypto ransom attack payments hit record $1 billion in 2023: report
Scammers targeting institutions such as hospitals, schools and government offices for ransom pocketed $1.1 billion last year, compared with $567 million in 2022.
Explained: What is Lockbit? The digital extortion gang on a cybercrime spree
The cybercrime gang infects a victim organisation's system with ransomware - malicious software that encrypts data - and then coerces targets into paying ransom to decrypt or unlock it. Such ransom is usually demanded in the form of cryptocurrency, which is harder to trace and gives the receiver anonymity.
US Energy Department gets two ransom notices as MOVEit hack claims more victims
The DOE contractor Oak Ridge Associated Universities and the Waste Isolation Pilot Plant, the New Mexico-based facility for disposal of defense-related radioactive nuclear waste, were hit in the attack.
Ransomware: Impact and action plan for Indian businesses
WannaCry exploited a vulnerability in a commonly used operating system to spread which can pose a significant risk to businesses and individuals in India, considering the rampant use of expired and/or pirated software.
Government issues alert on spread of 'Locky Ransomware'
Ransomware is a malicious software and the Locky Ransomware is learnt to be demanding ransom of half bitcoin, which at present is equivalent to over Rs 1.5 lakh.
Ransomware: Impact and action plan for Indian businesses
Investigations have identified WannaCry as the culprit (see box below for more details) and proliferation of this ransomware, in a significant number of cases, appears to have been through a route that most of us tend to overlook - use of expired/pirated software.
Hacker attack that makes you grind your teeth
A dental practice was hit last year by a strain of malicious software that sought out X-ray images and encrypted them on the clinic's computer system.
Budget 2013: Software royalty raised to a king's ransom
Import of software and technology services will become more expensive. And litigation around these areas is likely to increase.
Techies nabbed for abduction, robbery in Bangalore
A six-member gang, including three techies, who had been allegedly kidnapping their counterparts for ransom, was arrested on Saturday.
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