U.S. state and federal investigators are being inundated with reports from people who’ve lost hundreds of thousands or millions of dollars in connection with a complex investment scam known as “pig butchering,” wherein people are lured by flirtatious strangers online into investing in cryptocurrency trading platforms that eventually seize any funds when victims try to cash out.
Three stories here last week pored over several years’ worth of internal chat records stolen from the Conti ransomware group, the most profitable ransomware gang in operation today. The candid messages revealed how Conti evaded law enforcement and intelligence agencies, what it was like on a typical day at the Conti office, and how Conti secured the digital weaponry used in their attacks. This final post on the Conti conversations explores different schemes that Conti pursued to invest in and steal cryptocurrencies.
Part I of this series examined newly-leaked internal chats from the Conti ransomware group, and how the crime gang dealt with its own internal breaches. Part II explored what it’s like to be an employee of Conti’s sprawling organization. Today’s Part III looks at how Conti abused a panoply of popular commercial security services to undermine the security of their targets, as well as how the team’s leaders strategized for the upper hand in ransom negotiations with victims.
U.S. and Bulgarian authorities this week seized the darkweb site used by the NetWalker ransomware cybercrime group to publish data stolen from its victims. In connection with the seizure, a Canadian national suspected of extorting more than $27 million through the spreading of NetWalker was charged in a Florida court.
The criminal group behind the REvil ransomware enterprise has begun auctioning off sensitive data stolen from companies hit by its malicious software. The move marks an escalation in tactics aimed at coercing victims to pay up — and publicly shaming those don’t. But it may also signal that ransomware purveyors are searching for new ways to profit from their crimes as victim businesses struggle just to keep the lights on during the unprecedented economic slowdown caused by the COVID-19 pandemic.