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Exit Scam: BlackCat Ransomware Group Vanishes After $22 Million Payout

Exit Scam: BlackCat Ransomware Group Vanishes After $22 Million Payout

Mar 06, 2024 Cyber Crime / Ransomware
The threat actors behind the  BlackCat ransomware  have shut down their darknet website and likely pulled an exit scam after uploading a bogus law enforcement seizure banner. "ALPHV/BlackCat did not get seized. They are exit scamming their affiliates," security researcher Fabian Wosar  said . "It is blatantly obvious when you check the source code of the new takedown notice." "There is absolutely zero reason why law enforcement would just put a saved version of the takedown notice up during a seizure instead of the original takedown notice." The U.K.'s National Crime Agency (NCA)  told  Reuters that it had no connection to any disruptions to the BlackCat infrastructure. Recorded Future security researcher Dmitry Smilyanets  posted  screenshots on the social media platform X in which the BlackCat actors claimed that the "feds screwed us over" and that they intended to sell the ransomware's source code for $5 million. The disappearing
Cryptocurrency Firm Loses $145 Million After CEO Dies With Only Password

Cryptocurrency Firm Loses $145 Million After CEO Dies With Only Password

Feb 04, 2019
QuadrigaCX, the largest bitcoin exchange in Canada, has claimed to have lost CAD 190 million (nearly USD 145 million) worth of cryptocurrency after the exchange lost access to its cold (offline) storage wallets. Reason? Unfortunately, the only person with access to the company's offline wallet, founder of the cryptocurrency exchange, is dead. Following the sudden death of Gerry Cotten , founder and chief executive officer QuadrigaCX, the Canadian exchange this week filed for legal protection from creditors in the Nova Scotia Supreme Court until it locates and secures access to the lost funds. In a sworn affidavit filed by Cotten's widow Jennifer Robertson and obtained by Coindesk , Robertson said QuadrigaCX owes its customers some CAD 260 million (USD 198 Million) in both cryptocurrencies, including Bitcoin, Bitcoin Cash, Litecoin, and Ethereum, as well as fiat money. However, Robertson said the cryptocurrency exchange only has smaller amount in a 'hot wallet' (U
Timing is Everything: The Role of Just-in-Time Privileged Access in Security Evolution

Timing is Everything: The Role of Just-in-Time Privileged Access in Security Evolution

Apr 15, 2024Active Directory / Attack Surface
To minimize the risk of privilege misuse, a trend in the privileged access management (PAM) solution market involves implementing just-in-time (JIT) privileged access. This approach to  privileged identity management  aims to mitigate the risks associated with prolonged high-level access by granting privileges temporarily and only when necessary, rather than providing users with continuous high-level privileges. By adopting this strategy, organizations can enhance security, minimize the window of opportunity for potential attackers and ensure that users access privileged resources only when necessary.  What is JIT and why is it important?   JIT privileged access provisioning  involves granting privileged access to users on a temporary basis, aligning with the concept of least privilege. This principle provides users with only the minimum level of access required to perform their tasks, and only for the amount of time required to do so. One of the key advantages of JIT provisioning
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