Posts Tagged: Chainalysis


2
Jun 20

REvil Ransomware Gang Starts Auctioning Victim Data

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 who 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.

Over the past 24 hours, the crooks responsible for spreading the ransom malware “REvil” (a.k.a. “Sodin” and “Sodinokibi“) used their Dark Web “Happy Blog” to announce its first ever stolen data auction, allegedly selling files taken from a Canadian agricultural production company that REvil says has so far declined its extortion demands.

A partial screenshot from the REvil ransomware group’s Dark Web blog.

The victim firm’s auction page says a successful bidder will get three databases and more than 22,000 files stolen from the agricultural company. It sets the minimum deposit at $5,000 in virtual currency, with the starting price of $50,000.

Prior to this auction, REvil — like many other ransomware gangs — has sought to pressure victim companies into paying up mainly by publishing a handful of sensitive files stolen from their extortion targets, and threatening to release more data unless and until the ransom demand is met.

Experts say the auction is a sign that ransomware groups may be feeling the financial pinch from the current economic crisis, and are looking for new ways to extract value from victims who are now less likely or able to pay a ransom demand.

Lawrence Abrams, editor of the computer help and news Web site BleepingComputer, said while some ransomware groups have a history of selling victim data on cybercrime forums, this latest move by REvil may be just another tactic used by criminals to force victims to negotiate a ransom payment.

“The problem is a lot of victim companies just don’t have the money [to pay ransom demands] right now,” Abrams said. “Others have gotten the message about the need for good backups, and probably don’t need to pay. But maybe if the victim is seeing their data being actively bid on, they may be more inclined to pay the ransom.” Continue reading →