Site icon The Punching Bag Post

Ransom for Cybercrime Paid with Difficult to Trace Cyber Currency

<p>As reported by <em>The Associated Press<&sol;em>&comma; a state prosecutor&rsquo&semi;s office in Pennsylvania paid out more than &dollar;1&comma;000 in bitcoin currency to free up its hacked computer network&period; District Attorney Stephen Zappala&&num;8217&semi;s office was just one of the hundreds of thousands of systems targeted by the organization known as the &ldquo&semi;Avalanche network&period;&rdquo&semi;&nbsp&semi;<&sol;p>&NewLine;<p>This news surfaced shortly after authorities in the US and Europe were able to successfully disable the Avalanche Network&period; &nbsp&semi;<&sol;p>&NewLine;<p>Pittsburgh Attorney Soo Song estimates that Avalanche&comma; which has been operating since at least 2010&comma; has hacked into an estimated 500&comma;000 computers worldwide&period; &ldquo&semi;The takedown of Avalanche was unprecedented in its scope&comma; scale&comma; reach&comma; and level of cooperation among 40 countries&comma;&rdquo&semi; said Song&period;&nbsp&semi;<&sol;p>&NewLine;<p>&ldquo&semi;Avalanche was a platform to distribute malware to people who wanted to buy it and use it to infect the computers of people and businesses&comma;&rdquo&semi; reports <em>The Washington Times&period;&nbsp&semi;<&sol;em>The platform offered two types of malware&colon; one that would lock up a network until the victim agreed to pay a ransom and another that was used to steal online banking information&period;&nbsp&semi;<&sol;p>&NewLine;<p>Zappala&rsquo&semi;s office was hit by the second type of malware in 2015 when one of his employees clicked on a link that appeared in a phishing email &lpar;phishing is a common tactic used by hackers to trick people into installing malware&rpar;&period;<&sol;p>&NewLine;<p>The employee &ldquo&semi;opened the link because it appeared to go back to a legitimate government agency&comma;&rdquo&semi; said Zappala&period; The link infected the entire system&comma; which has since been modified to fend off future attacks&period;&nbsp&semi;<&sol;p>&NewLine;<p>Zappala decided to fork over nearly &dollar;1&comma;400 to free up the network&period; His detectives were able to trace the phishing email to Australia&comma; but couldn&rsquo&semi;t locate the specific source&period; Zappala is content to let the feds take it from here because &ldquo&semi;the penalties the federal government can impose are much more substantial than we can impose&period;&rdquo&semi;&nbsp&semi;<&sol;p>&NewLine;<p>Since the attack on Zappala&rsquo&semi;s network&comma; 189 infected computers have been located and five suspects have been arrested&period;&nbsp&semi;<&sol;p>&NewLine;<p><strong>The evolution of money&nbsp&semi;<&sol;strong><&sol;p>&NewLine;<p>Bitcoin is an electronic currency or &ldquo&semi;cryptocurrency&rdquo&semi; invented by programmers in 2008&period; Often hailed as the &ldquo&semi;first decentralized digital currency&comma;&rdquo&semi; bitcoin is a convenient way to conduct online transactions&period;&nbsp&semi;<&sol;p>&NewLine;<p>Bitcoin has an anonymous quality to it&comma; which made Avalanche Network&rsquo&semi;s ransomware program work&period; It&&num;8217&semi;s also why criminals on the &&num;8220&semi;darknet market&&num;8221&semi; use it to buy and sell illegal drugs&period; &nbsp&semi;<&sol;p>&NewLine;<p>Zcash&comma; an electronic currency launched in October&comma; promises levels of encryption that make it virtually untraceable&period; To create a secret and secure system that couldn&rsquo&semi;t be hacked&comma; the makers of Zcash opened a &ldquo&semi;backdoor&rdquo&semi; into their own system and&comma; in a sense&comma; swallowed the key&period; &nbsp&semi;<&sol;p>&NewLine;<p>The backdoor &&num;8220&semi;ceremony&rdquo&semi; took place simultaneously in five stations across the world&comma; one of which was inside a vehicle rapidly crossing through British Columbia&period;&nbsp&semi;<&sol;p>&NewLine;<p>The bizarre ceremony took four days&comma; after which all RAM chips storing fragments of the backdoor key were smashed and burned&period;&nbsp&semi;<&sol;p>&NewLine;<p><strong>Editor&&num;8217&semi;s note&colon;<&sol;strong> For more informantion&comma; research the &&num;8220&semi;dark net&&num;8221&semi; where you can buy illegal drugs&comma; illicit porn and even hire a hitman in complete anonymity&period; It&&num;8217&semi;s dark&comma; its creepy and its the ultimate in black market dealings&period; This is part of our future&period;<&sol;p>&NewLine;

Exit mobile version