REvil Strikes Again. Bitcoin And The Ransomware Problem

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Russia-based hacking group REvil attacked over 200 US networks and demanded $70 million in Bitcoin as ransom. The leading cryptocurrency is increasingly used in Ransomware attacks, and this is causing problems for the authorities.

Russian-based ransomware group brought down the networks of at least 200 United States companies over the weekend. The hacking group is now demanding $70 million in ransom and wants it to be paid in Bitcoin.

According to ABC News, the hacking group targeted software supplier Kaseya and proceeded to use its network-managed package to spread ransomware through its cloud. This resulted in over a million machines getting infected by the ransomware.

Following the attack, the Russian-based group is now demanding to be paid in Bitcoin in exchange for a decrypter for the infected machines. The group wrote, “On Friday, we launched an attack on [managed service providers]. More than a million systems were infected.”

United States President Joe Biden has already ordered investigations into the incidence. In a Reuters report, Biden said they were not certain of the origins of the hack. “The initial thinking was it was not the Russian government, but we’re not sure yet,” the president said…read more.