Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

New ransomware variant rakes in 70 bitcoins from victims

A new version of the CryptXXX family of ransomware that is spreading through spam and other means has been found to have received 70 bitcoins in three weeks.

The latest version of the ransomware has corrected its flaws which allowed victims to decrypt files without paying the ransom. This corrected version has disabled decryption of files even with the help of decryptor tools provided by Kaspersky and victims would now be able to retrieve their data only after paying the ransom.

With a successful ransom payment of 70 bitcoins it is possible that CryptXXX and other families of ransomware will progress further and evolve, a blog post by SentinelOne, a security firm, stated. SentinelOne also noted the factors that are responsible for growth of ransomware:

  • Increasing reliance on computers to store and process valuable information and,
  • Increasing popularity of bitcoin which is semi-anonymous and difficult to regulate

The blog also mentioned that the malware attackers might use other distribution methods apart from spamming in order to attack through the ransomware.

According to Cryptocoinsnews.com (CCN), for the past few months, there was a serious issue going on between CryptXXX developers and security researchers with the latter tracking out ways for victims to reclaim back their data without paying the ransom.

CCN.com noted that regularly monitored funds were also being transferred into a new, unique address, suggesting that the CryptXXX ransomware operators may be using a Bitcoin tumbler to shield where the coins were going.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.