Blockchain technology could launch a "tectonic shift" in the way government and industries secure financial systems, IBM executive Jerry Cuomo said during testimony before the President's Commission on Enhancing Cyber Security.
Bitcoin extortionist group DD4BC has recently stepped up its distributed denial of service attacks and developed new tactics, according to a new report by Akamai's Prolexic security engineering and research team.
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.