FBI: Don’t Pay Bitcoin Ransomware

The FBI has changed its stance on ransomware extortionists saying people targeted should refuse to pay the bitcoin ransom despite a previous statement from the FBI encouraging victims to pay a ransom.

At a recent Federal Trade Commission’s Fall Technology Series, supervisory special agent for the FBI’s Cyber Division, Will Bales, said that businesses or individuals targeted by ransomware should refuse to pay the ransom, as reported in Dark Reading.

According to the US Justice Department, ransomware attacks quadrupled in 2016 with an average of 4,000 per day. The FBI has previously revealed that ransomware costs amounted to $209 million in the first three months of this year. This is compared to a total of $24 million for the twelve months of 2015.

PhishMe research found that 93 percent of phishing emails now contain some form of ransomware.

The FBI Changes Its Advice

It seems that the FBI has had a change of heart regarding its advice with ransomware extortionists. Victims are now being asked to contact the FBI with any information they have to help advance the FBI’s ransomware investigation.

Earlier this year, CCN reported that a Canadian university had to pay a ransom amounting to $20,000 Canadian dollars in bitcoins to receive the keys to restore its data.

While three banks and a pharmaceutical company in India were targeted by ransomware extortionists who demanded a ransom in bitcoin last year.

A police department in Massachusetts also found itself the target of ransomware after the Melrose Police Department had to pay one bitcoin in ransom to regain access to its files.

Additionally, at the beginning of the year,  the Charity Commission in the UK issued an alert to all charities about an extortionist group demanding payments in bitcoin. The group, RepKiller Team, stated that if they didn’t receive bitcoin payments from £300 – £500, those targeted would face cyberattacks.

For now, the FBI seem to be issuing the correct advice.

Cryptocoinsnews

 

« Cloud-Based Malware Now Delivers Ransomware
You Have Big Data, Or Perhaps Just Too Much Data? »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

FT Cyber Resilience Summit: Europe

FT Cyber Resilience Summit: Europe

27 November 2024 | In-Person & Digital | 22 Bishopsgate, London. Business leaders, Innovators & Experts address evolving cybersecurity risks.

Clayden Law

Clayden Law

Clayden Law advise global businesses that buy and sell technology products and services. We are experts in information technology, data privacy and cybersecurity law.

North Infosec Testing (North IT)

North Infosec Testing (North IT)

North IT (North Infosec Testing) are an award-winning provider of web, software, and application penetration testing.

CSI Consulting Services

CSI Consulting Services

Get Advice From The Experts: * Training * Penetration Testing * Data Governance * GDPR Compliance. Connecting you to the best in the business.

CW Jobs

CW Jobs

CWJobs.co.uk is a leading specialist IT recruitment website covering all areas of IT including Cyber Security.

Alan Boswell Group

Alan Boswell Group

We are a Group of Companies providing specialist Insurance Broking and Risk Management advice and services including Cyber Risk cover.

Elastic

Elastic

Elastic is the world's leading software provider for making structured and unstructured data usable in real time for search, logging, security, and analytics use cases.

Edvance

Edvance

Edvance operates a range of cybersecurity businesses including value added cybersecurity solutions distribution, security technology innovation and development, and SaS solution offerings.

Workz Group

Workz Group

Workz connects and protects mobile subscribers of today and tomorrow by providing secure removable or embedded SIMs and remote provisioning solutions for consumer, M2M and IOT devices.

Sternum

Sternum

Sternum provides reliable and effective endpoint security for any IoT device, using robust technology and seamless integration.

Desec Security

Desec Security

Desec's training platform allows professionals around of the world to acquire knowledge and practical experience in Information Security.

Cyber Threat Alliance

Cyber Threat Alliance

CTA is working to improve cybersecurity of our digital ecosystem by enabling near real-time cyber threat information sharing among companies and organizations in the cybersecurity field.

Marcus Donald People

Marcus Donald People

Marcus Donald People is a UK IT recruitment specialist covering the following sectors: Infrastructure & Cloud, Information Security, Development, Business transformation.

ACROS Security

ACROS Security

ACROS Security is a leading provider of security research, real penetration testing and code review for customers with the highest security requirements.

Lattice Semiconductor

Lattice Semiconductor

Lattice Semiconductor solves customer problems across the network, from the Edge to the Cloud, in the growing communications, computing, industrial, automotive and consumer markets.

National Cyber Security Center (NCSC) - Vietnam

National Cyber Security Center (NCSC) - Vietnam

National Cyber Security Center of Vietnam has a central monitoring function and is a technical focal point for monitoring and supporting information security for people, businesses and systems.

MicroAge

MicroAge

Powered by five decades of experience, lasting partnerships, client relationships, and the values that guide us daily, MicroAge is here to help you secure, accelerate, and transform your business.

Evolver

Evolver

Evolver delivers technology services and solutions that improve security, promote innovation, and maximize operational efficiency in support of government and commercial customers.

JLS Technology

JLS Technology

Since 2007, JLS Tech has been recognized as one of the world’s most innovative cybersecurity and technology operations leaders.

Cyborg Security

Cyborg Security

Cyborg Security is a team of threat hunters, threat intelligence analysts, and security researchers from across North America.

Relyance AI

Relyance AI

Relyance AI - One unified platform for privacy, security, & governance.