Reveton | Breaking Cybersecurity News | The Hacker News

A former Microsoft network engineer who was charged in April this year has now been sentenced to 18 months in prison after pleading guilty to money laundering in connection with the Reveton ransomware. Reveton malware is old ransomware, also known as scareware or police ransomware that instead of encrypting files locks the screen of victims' computers and displays a message purporting to come from a national law enforcement agency. The splash screen of the malware was designed to falsely tell unsuspecting victims that they have been caught doing illegal or malicious activities online or the law enforcement had found illegal material on their computer, forcing users to make pay a "fine" of $200-300 within 48 hours to regain access to their computers. Raymond Odigie Uadiale, 41-year-old, who worked as a Microsoft network engineer, is not the actual author of the Reveton ransomware , but he helped the Reveton distributor, residing in the UK and identified as the online...

Police in Spain have arrested a gang of 11 cyber criminals who used ransomware to demand money from thousands of victims in 30 countries using malware known as Reveton . Police arrested six Russians, two Ukrainians and two Georgians in the Costa del Sol. The gang leader, a 27-year-old Russian, was arrested in Dubai in the United Arab Emirates in December 2012 on an international arrest warrant. Spanish authorities are seeking his extradition. According to researchers from Trend Micro who worked with the Spanish to track down the group, estimate that this ransomware operation netted the group more than 1 million euros a year. The Trojan was distributed using drive by download techniques, in conjunction with the Black Hole exploit kit and initially the malware was focused on German individuals, but in later months began to target other countries, primarily the USA. Trend Micro, said there were 48 different variations of the virus in use and the malware has bee...

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