Google Research, Universities Release ‘Tracking Ransomware End-To-End’ Bitcoin Attacks Report

Google Research Shows Ransomware Criminals Cash Out $16 Million From Bitcoin Exchange

According to a recently released report and research conducted by Google and leading US universities, $16 million were cashed out by criminals from the defunct Bitcoin exchange BTC-e. During the first quarter of 2019, a large number of attacks to steal cryptocurrencies was reported by the crypto community.

Ryuk Ransomware Attack Affects Crypto Users

The Ryuk ransomware has affected a large number of users in the last months. There are large amounts of money demanded to be paid, which increased over 90% since the end of 2018. The average ransom was $12,762 compared to $6,733 at the end of 2018.

Some of these attacks took place in the United States, and indeed, Imperial County in California was struck by the Ryuk ransomware, which created some problems for the city. Stuart has also bee hit by Ryuk, causing a temporary shutdown of payroll systems.

Other places that were affected by this ransomware included the Cleveland Hopkins International airport, that suffered outages of flight and baggage information. Some larger companies affected preferred to pay for the ransom rather than losing funds for several days of being inoperative.

Some of the hackers come from North Korea, Iran, and Russia. This is one of the reasons why US municipalities were affected. At the same time, some other attackers came from post-Soviet states.

Another ransomware called Cerber has stolen over $2.5 million from South Korean citizens. Companies and users are trying to secure their funds and cryptocurrencies using hardware wallets. Meanwhile, crypto enthusiasts know that they shouldn’t download files that do not know who sent them.

A few days ago, the cryptocurrency exchange Binance was hacked losing over 7,000 BTC worth close to $40,000,000.

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