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Crypto double extortion ransomware attacks increased by 500%

Crypto double extortion ransomware attacks increased by 500%

Over the last year, the number of crypto attacks made by hackers has increased by 500%. Monero has become the most popular cryptocurrency for ransomware.   

As reported by CipherTrace, so-called double extortion software became extremely popular among cybercriminals. A typical ransomware attack encrypts the victim's data until a ransom is paid, while in a dual ransomware attack, attackers not only encrypt the victim's data but also threaten to make the stolen files publicly available if the ransom is not paid timely.

Attackers have also started to switch to Monero gradually. Bitcoin is still on the payment list, but hackers are now increasing the ransom amount if the victim pays in bitcoin. Apparently, the reason is that Bitcoin is easier to trace than the more confidential Monero cryptocurrency. 

For example, the DarkSide group ceased to exist following the Colonial Pipeline attack incident. However, CipherTrace believes that the group simply changed its name to BlackMatter in order to distract public and law enforcement attention from the large-scale hack. BlackMatter uses the same payment scheme as DarkSide, with 25% more expensive bitcoin payments than XMR.

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