Hackers Behind Global Ransomware Attack Are Demanding $70 Million

Investigators say that hackers are demanding $70 million in Bitcoin to end the biggest global ransomware attack in history.

Hackers hit a range of IT management companies and compromised their corporate clients by targeting a key software vendor called Kaseya.

REvil gang, who is responsible for extorting $11 million from the meat processor JBS after a Memorial Day attack, infected thousands of victims in at least 17 countries just before the July 4th holiday weekend.

The group posted its demands on its dark website.

“On Friday (02.07.2021) we launched an attack on MSP providers. More than a million systems were infected. If anyone wants to negotiate about universal decryptor — our price is [$70,000,000] in BTC and we will publish publicly decryptor that decrypts files of all victims, so everyone will be able to recover from attack in less than an hour. If you are interested in such deal — contact us using victims ‘readme’ file instructions,” the post read.

“The level of sophistication here was extraordinary,” Fred Voccola, CEO of the Miami-based software company Kaseya said.

The Federal Bureau of Investigation is investigating the attack.

Deputy National Security Advisor Anne Neuberger issued a statement saying President Joe Biden had “directed the full resources of the government to investigate this incident” and urged all who believed they were compromised to alert the FBI.

Various business and public agencies were targeted in the ransomware attack.

“This attack is a lot bigger than they expected and it is getting a lot of attention. It is in REvil’s interest to end it quickly,” Allan Liska, an analyst at Recorded Future, said. “This is a nightmare to manage.”

According to Cybersecurity Ventures, every 11 seconds businesses around the world are attacked using ransomware. The security firm projects that global ransomware losses this year will reach $20 billion.

 

About RavenH

Raven Haywood is a journalist for 10+ years. Graduate from Howard University.

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