Blockchain networks reports repeated Ransomeware attacks

Interconnected ransomware and murky has been confirmed in the Blockchain networks
  • The blockchain investigation group has reported specific ransomware attacks over blockchains
  • These criminal groups rent their ransomware from RaaS providers and carry out their breachings
  • Some of the affiliates expand their sources and form bigger groups to carry out their hackings 

It has been noticed that several criminal-minded groups use several multiple ransomware and jump ship from one Ransomware-as-a-Service to the next; this helps them to get more and more intrinsic details of the host. A blockchain report was published today by the Chainalysis investigative body. They confirmed that cybercrime gangs have interfered with ransomware attacks. They aren’t operating in their personal domains but often switched to ransomware to make better profits.

The investigating group also showed how the funds of Bitcoin were being transacted to the criminal accounts from the host’s profile; then, these stolen funds were instantly divided between the partners who were involved in laundering the money. The investigating departments disclosed the entire process. Nowadays, ransomware businesses run very similarly to any other business operating firms, and understanding these firms’ dynamics is very important for cybersecurity maintenance. 

Working of the ransomware and the criminal groups 

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Some intelligent coders use their intelligence in a very wrong way and engage in creating ransomwares, which helps them earn a lot of money. They create these and then carry out a renting procedure of the actual ransomware by integrating them with Ransomware-as-a-Service or RaaS. 

This technique is very similar to current software provisions used when the actual software is not affordable. But with the hunger for money, some of the owners are selling RaaS software to anyone who signs for it. But there are some who work in verified groups, build legitimate software and ransomware, and are technically affiliated. Sometimes affiliates misuse and malware via emails to government and private networks, infecting their systems and decrypting all the details that seem useful to them. These affiliates buy ransomware from the operators who rent it.

How the affiliates group together and work

Sometimes the affiliates gather a group of like-minded people and carry out these crimes themselves. Some members of the groups possess skills for breaching any required networks. These people are named initial access vendors; another set of groups retain the skills to expand access in these networks to cause the maximum damage of the ransomware. To sum up, with passing time, these ransomware territories have evolved and are expanding at massive levels. They have formed several like-minded gangs that are breaching through systems and collecting everything that they need. Each of them provides certain special services to their clients across the domain of RaaS. 

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Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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