Biden orders investigation into ransomware attacks on more than 200 U.S. companies

Biden ordered an investigation into the ransomware attacks on more than 200 U.S. companies. Biden said: "The initial conclusion is that it was not the work of the Russian government, but we are not sure yet."

Biden said he had directed U.S. intelligence agencies to investigate and that the United States would respond if they determined Russia was the culprit.

According to a previous report by BitPush, hundreds of American companies were attacked by a sophisticated ransomware that hijacked technology management software developed by Miami-based Kaseya, affecting about 200 companies.

Security firm Huntress Labs said it believes the Russia-linked REvil ransomware gang is responsible for the latest ransomware outbreak. Last month, the FBI blamed the same group for crippling meat processor JBS SA.

The ransomware attack was carried out by "VSA" developed by Kaseya, an information technology company headquartered in Miami, Florida. Many technology management companies use this software to provide services to small and medium-sized enterprises to manage servers, desktop computers, network equipment and printers.

According to Reuters, the hackers modified the software and encrypted the customers' files as well, a significant step up in sophistication from most ransomware attacks.

Over the past month, officials at the White House and elsewhere have been signaling a more serious stance against ransomware attacks, including an explicit push to increase analysis of cryptocurrency networks to track payments.

At a June 16 summit in Geneva, Biden urged Russian President Vladimir Putin to crack down on cyber hackers originating from Russia, warning of serious consequences if such ransomware attacks continued to spread.

The U.S. Cybersecurity and Infrastructure Security Agency said it is taking actions to understand and address a recent supply chain ransomware attack targeting Kaseya VSA products.

U.S. lawmakers say the ransomware issue poses a threat to Bitcoin’s legal status and could prove fatal to the cryptocurrency’s reputation before Congress.