Jun 14, 2021 17:00:00

A company appears to pay the ransom for ransomware attacks

In recent years, the

damage caused by ransomware attacks has been increasing, with the largest oil transfer pipeline in the United States and the world's largest meat trader being forced to shut down. Meanwhile, a company that handles ransom payments using Bitcoin has appeared and has become a hot topic.

DigitalMint helps ransomware victims make bitcoin payments
https://www.cnbc.com/2021/06/10/digitalmint-helps-ransomware-victims-make-bitcoin-payments.html

Chainalysis Blog | Ransomware Skyrocketed in 2020, But There May Be Fewer Culprits Than You Think

https://blog.chainalysis.com/reports/ransomware-ecosystem-crypto-crime-2021

On May 9, 2021, Colonial Pipeline , the operator of America's largest oil transfer pipeline, announced that it had shut down due to a ransomware attack. In addition, on May 31, 2021, JBS , the world's largest meat trader, announced that it was forced to shut down the system after being attacked by a cybercrime group based in Russia, which is deeply involved in life. Concerns are widespread about the fact that ransomware attacks on enterprises are occurring in rapid succession.

America's largest oil pipeline shuts down due to ransomware attack, Biden administration declares emergency-GIGAZINE

In addition, analysis

by blockchain analytics firm Chainalysis shows that the total ransom paid by ransomware victims over the year increases year by year, reaching $ 350 million in 2020, nearly four times the previous year's level. It is also clear that it has reached (about 38.4 billion yen).

Under such circumstances surrounding ransomware attacks, it turned out that DigitalMint , which develops Bitcoin-related services, is providing 'support for the process of paying ransom with Bitcoin' for victims of ransomware attacks. Did.

According to CNBC, Digital Mint will complete the ransom payment within 30-60 minutes of the request. 'Chainalysis's analysis is modest,' said Mark Glens, CEO of Digital Mint. 'The total ransom actually paid in 2020 could reach about $ 1 billion.' 'If a company victimized by a ransomware attack decides that they'have run out of all options,'from an economic perspective, we recommend paying the ransom through a company like us. '.

CNBC also said, 'Given the financial loss while the system is unavailable due to a ransomware attack, it may be cheaper to pay the ransom,' and in some cases the ransom should be paid. I agree with Digital Mint's claim.

In addition, a part of the ransom paid by Colonial Pipeline to the attacker has been collected by the FBI, and the market price of Bitcoin has fallen sharply because the security of crypto assets has been shaken.

The FBI seized 230 million yen worth of Bitcoin from cybercriminal groups, and the market price of Bitcoin plummeted, saying that 'the security of crypto assets has been shaken' --GIGAZINE