CryptoWall creator makes $325 million via Bitcoin extortion

According to a research report released by a cybersecurity industry group, CryptoWall ransomware attacks have brought more than $300 million in revenue to a single entity.

The report, released earlier this week by the Cyber ​​Threat Alliance, a group of companies co-founded by Intel Security, Symantec, Palo Alto Networks and Fortinet, highlights that ransomware victims have lost $325 million and that more than 400,000 computers have been compromised by CryptoWall's third variant (CW3), with many victims appearing to be concentrated in North America.

Evidence that the ransomware originated from a single entity is that both the code and the Bitcoin payments are traceable. The report states that Armenia, Belarus, Iran, Kazakhstan, Russia, Serbia and Ukraine are all on the blacklist, meaning that the malware will not work in these places, which also provides some clues to the origin point.

The report’s authors added:

“Studying this financial network revealed that some of the main active wallets were shared, further proving that all ransomware campaigns were operated by the same entity.”

According to the report, known bitcoin ransom demands, ranging from hundreds to thousands of dollars, are laundered through multiple addresses and known bitcoin services, which the report does not name directly. Some of the funds have been used to invest in new exploit kits, or botnet rentals.

The report’s authors note that from a revenue perspective, CryptoWall has been quite successful for its backers and will continue to provide significant revenue to its developers.

"The 'crypt100' variant alone has resulted in 15,000 victims worldwide," the report states. "These 15,000 victims have generated at least $5 million in revenue for the CW3 group."

CryptoWall Report

－－－－

Original article: http://www.coindesk.com/cryptowall-325-million-bitcoin-ransom/
By Stan Higgins
Compiled by: Satuoxi
Editor: Satuoxi
Source (translation): Babbitt Information