LAS VEGAS – Hackers behind some of the most notorious ransomware around are taking some hints from legit Wall Street companies. Malware strains like Locky and Cerber helped make ransomware a $25 million industry in 2016 and its operators are starting to operate like conventional corporations with “customer” service staff and outsourced resources, researchers explained Wednesday at Black Hat.
Ransomware has devastated hospitals, universities, banks, and essentially any computer network with weak security over the last 10 years, but attacks have become even more prevalent as infection rates and payments grow. The malware encrypts files on a victim’s computer and demands payments — one that reached $1 million — if the victim ever wants to get data back.
Researchers at Google, Chainalysis, New York University and University of California San Diego followed the money trail and got a look at the evolving ecosystem of ransomware. During the presentation at the Las Vegas conference, the team showed a new professional side to ransomware.
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