Topics
tardy
AI
Amazon
Image Credits:Bryce Durbin / TechCrunch
Apps
Biotech & Health
Climate
Image Credits:Bryce Durbin / TechCrunch
Cloud Computing
DoC
Crypto
initiative
EVs
Fintech
Fundraising
Gadgets
bet on
Government & Policy
computer hardware
layoff
Media & Entertainment
Meta
Microsoft
seclusion
Robotics
Security
Social
distance
startup
TikTok
Transportation
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
video
Partner Content
TechCrunch Brand Studio
Crunchboard
reach Us
The ransomware diligence is flourish , not losing .
Despite various law enforcement wins against ransomware actors , like thesweeping takedown of LockBitandthe seizure of Radar , hackers continue to reap the rewards of these data - thievery attacks — and 2024 looks set to be their most profitable year to date .
That ’s consort to Allan Liska , a ransomware expert who serves as a threat intelligence psychoanalyst at cybersecurity firm Recorded Future . In an audience with TechCrunch in London in the beginning this month , Liska confirm that 2024 is on track to be another record book - breaking yr for ransomware — with every bit criminal record - break ransoms paid by dupe to hacker .
“ The bend is going to flatten out a little bit , which I guess is good news . But a record - breaking year is still a phonograph record - breaking year , ” Liska told TechCrunch . “ We ’ve also this yr , for the first sentence that I ’m cognisant of , had four eight - physique ransoms paid . ”
One of these eight - figure sums wasthe $ 22 million ransom money that Change Healthcarepaid to the Russian cybercrime gang ALPHV following the theft ofhighly sensitive medical information related to hundreds of millions of Americans . What followed , Liska said , was rearing in - fighting between the ransomware radical and its affiliate , which carry out the hack on ALPHV ’s behalf .
“ If you wanted a reality show , this was it , ” say Liska .
This apparent scrappiness is only potential to worsen as younger threat actors join the ransomware raid , as we ’ve seen with highly skilled and financially motivated hackers like Lapsus$ and , more of late , Scattered Spider . This sluttish - cockle group of predominantly teenage , native English - speaking hackers has comport out some of the most fatal cyberattacks in history , such asthe rupture of MGM Hotelsand thesuspected linksto therecent cyberattack on Transport for London .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
The disjointed nature of these attackers is evidenced by the increment of datum theft - only flack , which have increased by more than 30 % in 2024 , according to Liska . “ That is up importantly from just a couple of years ago , ” he told TechCrunch . “ A mint of the newer menace actor just do n’t want to dole out with encryption , decipherment , or anything like that , ” refer to attack that exfiltrate huge amounts of stolen data .
While the tenaciousness of teenage hackers has already led to a rising slope in extortion - only attacks , that might be just the tip of the iceberg . Liska warn that these scrappy terror thespian could opt to skip datum theft entirely and decide to slip money directly from cryptocurrency exchanges instead . Worse , Liska warns that the conflict against ransomware can shed into veridical - world violence , describing escalatory extortion maneuver by group like Scattered Spider , which use real - world information against their targets if their victims say they wo n’t pay a ransom .
The termination of the upcoming U.S. election could also have a major effect on the future of ransomware .
Liska notes that the global ransomware taskforce set up under the Biden governance has been a “ Brobdingnagian welfare ” to the fight against hackers , thanks to an increase in the communion of intelligence between res publica . Liska said that there is “ a in effect chance that drop dead aside ” if the U.S. no longer shares intelligence with its allies under a successive Trump administration , which has predict wide - scale leaf government deregulation .
“ I do n’t think that ’s something we ’re prepared for — and we could see even more of an acceleration of ransomware attacks if law of nature enforcement is less capable to do their job , ” enunciate Liska .
Under the premature Trump giving medication , “ we saw WannaCry and NotPetya , and there was no straightaway reaction , ” said Liska
What ’s the resolution ? According to Liska , whosaid at TechCrunch Disrupt 2023that banning ransomware defrayment was n’t the solution , doing so is now the only answer .
“ We ’ve had 20 - plus constabulary enforcement action at law just this year against ransomware , and that is marvellous . But if we ’re going to fertilize eight - public figure ransom payments to these attackers then that modify the motivator model . You might get arrested , but on the other manus , you might get an eight - anatomy ransom payment , that ’s a challenge that is hard to resist . ”
“ My answer is : ban ransom payments , which is a terrible answer , but it may be the least - unfit solvent that we have , ” Liska add .
