How Ransomware Evolved Into a Big Business - Ep.256

Gurvais Grigg, Chainalysis public sector CTO, and Kim Grauer, director of research at Chainalysis, review the ransomware landscape. Show Highlights: their backgrounds and roles at Chainalysis how a ransomware attack works what types of businesses are usually targeted in ransomware attacks why ransomware as a service (RAAS) is a booming business why Kim and Gurvais believe the hacking group REvil is becoming more sophisticated what characteristic of REvil hints that the group could be affiliated with Russia how the RAAS business model works how ransomware payments can be tracked why ransomware reporting has a data problem why Bitcoin is the preferred method of payment amongst ransomware attackers what two factors makes BTC preferable to privacy coins how ransomware groups teach victims to transfer BTC how ransomware groups cash out of their BTC how counter-terrorism tactics can help fight ransomware attacks how the Department of Justice may have partially recovered part of the Colonial Pipeline ransomware payment what tools and strategies governments can and will use to battle ransomware Thank you to our sponsors! Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2 Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero Conjure: https://conjure.finance Episode Links People Kim Grauer - Director of Research at Chainalysis https://www.linkedin.com/in/kimberly-grauer-a9501144 Gurvais Grigg - Global Public Sector Chief Technology Officer at Chainalysis https://www.linkedin.com/in/gurvais-grigg-b1027a153/ Chainalsysis Ransomware Data https://go.chainalysis.com/rs/503-FAP-074/images/Ransomware-2021-update.pdf https://go.chainalysis.com/rs/503-FAP-074/images/Chainalysis-Crypto-Crime-2021.pdf https://blog.chainalysis.com/reports/applying-counterterrorism-strategies-to-ransomware https://blog.chainalysis.com/reports/eastern-europe-cryptocurrency-market-2020 Ransomware Attacks Kaseya https://decrypt.co/75246/what-the-revil-ransomware-attack-means-for-crypto https://www.abc.net.au/news/2021-07-03/ransomware-attack-us-revil/100265656 Colonial Pipeline https://ciphertrace.com/ransomware-seizure-blockchain-analytics-helps-us-authorities-seize-over-2-million-in-darkside-ransom-paid-by-colonial-pipeline/ https://www.elliptic.co/blog/us-authorities-seize-darkside JBS Holdings https://www.wsj.com/articles/jbs-paid-11-million-to-resolve-ransomware-attack Other Chainalysis Twitter: https://twitter.com/chainalysis Website: https://www.chainalysis.com/ Who is REvil? https://fortune.com/2021/07/07/what-is-revil-ransomware-attack-kaseya/ https://unit42.paloaltonetworks.com/revil-threat-actors/ Combating ransomware: https://securityandtechnology.org/ransomwaretaskforce/report/ Why Gurvais joined Chainalysis: https://blog.chainalysis.com/reports/gurvais-grigg-chainalysis Learn more about your ad choices. Visit megaphone.fm/adchoices