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2014: The Year Extortion Went Mainstream

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Another must-read article from Brian Krebs. After discussing an ill-conceived and amateurish blackmail effort against restaurant owners, Krebs takes a closer look as to why we are seeing an increase in reported extortion attempts:

Fueled largely by the relative anonymity of cryptocurrencies like Bitcoin, extortion attacks are increasingly being incorporated into all manner of cyberattacks today. Today’s thieves are no longer content merely to hijack your computer and bandwidth and steal all of your personal and financial data; increasingly, these crooks are likely to hold all of your important documents for ransom as well.

“In the early days, they’d steal your credit card data and then threaten to disclose it only after they’d already sold it on the underground,” said Alan Paller, director of research at the SANS Institute, a Bethesda, Md. based security training firm. “But today, extortion is the fastest way for the bad guys to make money, because it’s the shortest path from cybercrime to cash. It’s really a great crime for the criminals.”


Link.

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