The Extortion Economy
U.S. Companies and Ransomware
Ransomware has become one of the most common types of cyber-crime, devastating individuals, businesses, and government agencies. Law enforcement has largely failed to catch or deter the hackers, who are usually foreign. But we found that U.S. companies, exploiting regulatory loopholes and sometimes misleading victims, have secretly abetted the rise of ransomware for their own profit.
The Extortion Economy Podcast: Exploring the Secret World of Ransomware
The technology that enables ransomware may be new, but extortion and ransom are not. So why is this happening now? And can it be stopped? A new podcast from ProPublica and MIT Tech Review aims to find out.
The Colonial Pipeline Ransomware Hackers Had a Secret Weapon: Self-Promoting Cybersecurity Firms
Five months before DarkSide attacked the Colonial pipeline, two researchers discovered a way to rescue its ransomware victims. Then an antivirus company’s announcement alerted the hackers.
Like Voldemort, Ransomware Is Too Scary to Be Named
Wary of alarming investors, companies victimized by ransomware attacks often tell the SEC that “malware” or a “security incident” disrupted their operations.
An Illinois Superhero You’ve Never Heard Of
Michael Gillespie is one of the world’s leading cybercrime fighters, and you’d never know it.
The Ransomware Superhero of Normal, Illinois
Thanks to Michael Gillespie, an obscure programmer at a Nerds on Call repair store, hundreds of thousands of ransomware victims have recovered their files for free.
The New Target That Enables Ransomware Hackers to Paralyze Dozens of Towns and Businesses at Once
Cybercriminals are zeroing in on the managed service providers that handle computer systems for local governments and medical clinics.
The Extortion Economy: How Insurance Companies Are Fueling a Rise in Ransomware Attacks
Even when public agencies and companies hit by ransomware could recover their files on their own, insurers prefer to pay the ransom. Why? The attacks are good for business.
Sting Catches Another Ransomware Firm — Red Mosquito — Negotiating With “Hackers”
We recently wrote about two U.S. firms that promised high-tech ransomware solutions but instead paid the cyber-attacker. A U.K. company appears to do the same.
The Trade Secret: Firms That Promised High-Tech Ransomware Solutions Almost Always Just Pay the Hackers
As ransomware attacks crippled businesses and law enforcement agencies, two U.S. data recovery firms claimed to offer an ethical way out. Instead, they typically paid the ransom and charged victims extra.
We’re Reporting on Ransomware. Do You Know Something About an Attack?
Has your organization been hit by ransomware? Did you hire a data recovery firm? Do you know how an attack works from the inside? We’d like to hear from you.
