CryptoWall ransomware cost U.S. businesses and individuals $18 million between April 2014 and June 2015, according to the Federal Bureau of Investigation.
Security firm KnowBe4 has issued a warning about new ransomware called "Locker" that laid dormant on infected computers before coming alive earlier this week.
Ransomware has begun spreading in Australia that references the TV show "Breaking Bad" in a ransom note demanding up to AU$1,000 (US$791) to decrypt files it infects, according to Symantec security researchers.
Another local police department recently paid bitcoins to attackers to deactivate the malware known as ransomware. This is an all too familiar scenario playing out within overmatched enterprises across the nation.
The rising popularity of the malware known as ransomware is targeting small- to mid-sized businesses and organizations who lack sophisticated enterprise security infrastructures. And some of these hackers are increasingly asking for ransoms in bitcoin, rather than cash, to make the ransom difficult to trace.
Amid a data breach that surrendered account passwords and two-factor authentication information, Canadian exchange Cavirtex announced its decision to close down, according to a press release from the company.
Ransomware, fueled by the anonymous nature of Bitcoin and other virtual currencies, is quickly becoming an efficient means for hackers to extort victims. The success of the malware will lead to more dangerous and pervasive types, according to a security analyst.
The developers of CTB-Locker, the ransomware that disables systems until a bitcoin demand is met, have changed their propagation methods to include emailed spam, according to cybersecurity firms.
Bitcoin startup GAW Miners and its affiliated businesses are under investigation by the Securities and Exchange Commission for alleged fraud, according to leaked documents from the agency.
Russian telecommunications regulator Roskomnador blocked access to five bitcoin sites Tuesday, again solidifying the country's stance as a prominent international opponent of virtual currency. The agency banned the sites in what it calls an effort to block support for a "shadow economy."