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Firms That Promised High-Tech Ransomware Solutions Almost Always Just Pay the Hackers

Wednesday May 15, 2019. 08:48 PM , from Slashdot
As ransomware attacks crippled businesses and law enforcement agencies, two U.S. data recovery firms claimed to offer an ethical way out. Instead, they typically paid the ransom and charged victims extra.

From a report: Proven Data promised to help ransomware victims by unlocking their data with the 'latest technology,' according to company emails and former clients. Instead, it obtained decryption tools from cyberattackers by paying ransoms, according to Storfer and an FBI affidavit obtained by ProPublica. Another U.S. company, Florida-based MonsterCloud, also professes to use its own data recovery methods but instead pays ransoms, sometimes without informing victims such as local law enforcement agencies, ProPublica has found. The firms are alike in other ways. Both charge victims substantial fees on top of the ransom amounts. They also offer other services, such as sealing breaches to protect against future attacks. Both firms have used aliases for their workers, rather than real names, in communicating with victims.

The payments underscore the lack of other options for individuals and businesses devastated by ransomware, the failure of law enforcement to catch or deter the hackers, and the moral quandary of whether paying ransoms encourages extortion. Since some victims are public agencies or receive government funding, taxpayer money may end up in the hands of cybercriminals in countries hostile to the U.S. such as Russia and Iran.

Read more of this story at Slashdot.
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