Home Data Center Ransomware payments – All you need to know

Ransomware payments – All you need to know

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Ransomware payments – All you need to know
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If you were considering becoming a cybercriminal or were perhaps a traditional villain looking to upgrade your skills for the 21st century, I’m sure your business model of choice would be running a ransomware operation. You would, thanks to the simplicity of platforms like Ransomware as a Service and the willingness of victims to pay ransomware fees, be running a very successful business — albeit an illegal business — in a matter of days or weeks. Such is the ongoing success of ransomware as a means of extorting money from victims.

The main reason for the runaway success of ransomware as a malware attack vector is its effectiveness and ability to generate money for cybercriminals. Anonymous payment services like Bitcoin make ransomware payment simple for victims and risk free for the ransomware’s owners. Companies are even starting to keep a Bitcoin ransom ready in the event that they are affected and cannot recover from the attack.

Bitcoin isn’t the only ransomware payment method available. Cybercriminals offer flexibility when it comes to settling your bill. Early ransomware and Lockerware (the old screen-locking style of malware) were primitive in terms of demanding payment: Premium rate SMS message extortion was common, as was the use of the now defunct Ukash voucher scheme. Today, Bitcoin remains the most popular payment method, but other cryptocurrencies like the more sophisticated Ethereum and less well known Litecoin and Dogecoin are also options. The latter two currencies trail behind Bitcoin in terms of transactions, but all of these cryptocurrencies can be easily laundered through the darknet, allowing the cashing out of funds easily and anonymously.

Read the entire article here, Ransomware payments – All you need to know

via the fine folks at Veeam Software

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Veeam Veeam Software, a VMware Technology Alliance Premier partner, helps organizations safeguard their investment in virtual infrastructure by providing innovative systems management software designed to reduce costs, increase productivity and mitigate risk. Veeam is an international company with U.S. headquarters in Columbus, Ohio and European headquarters in London, UK. The company was founded in 2006 by the team previously behind Aelita Software, well known for its award-winning Windows Server management solutions. In 2008, Veeam acquired nworks, adding enterprise management connectors that bridge the gap between VMware virtual infrastructure and enterprise systems management tools from Hewlett-Packard and Microsoft. Veeam is rapidly expanding its presence and its partner network around the world, and will continue to offer innovative and practical solutions to help IT professionals better manage their virtual infrastructure. Today the company focuses on managing VMware servers, but as customer requirements grow, Veeam will support other virtual environments. With its drive for innovation, strong investment in R&D, and extensive product line, Veeam is well positioned for continued success.

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