Jul 20, 2021
Gurvais Grigg, Chainalysis public sector CTO, and Kim Grauer, director of research at Chainalysis, review the ransomware landscape. Show Highlights:
- their backgrounds and roles at Chainalysis
- how a ransomware attack works
- what types of businesses are usually targeted in ransomware attacks
- why ransomware as a service (RAAS) is a booming business
- why Kim and Gurvais believe the hacking group REvil is becoming more sophisticated
- what characteristic of REvil hints that the group could be affiliated with Russia
- how the RAAS business model works
- how ransomware payments can be tracked
- why ransomware reporting has a data problem
- why Bitcoin is the preferred method of payment amongst ransomware attackers
- what two factors makes BTC preferable to privacy coins
- how ransomware groups teach victims to transfer BTC
- how ransomware groups cash out of their BTC
- how counter-terrorism tactics can help fight ransomware attacks
- how the Department of Justice may have partially recovered part of the Colonial Pipeline ransomware payment
- what tools and strategies governments can and will use to battle ransomware
Thank you to our sponsors!
Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2
Conjure: https://conjure.finance
Episode Links
People
Kim Grauer - Director of Research at Chainalysis
Gurvais Grigg - Global Public Sector Chief Technology Officer at Chainalysis
Chainalsysis Ransomware Data
- https://blog.chainalysis.com/reports/applying-counterterrorism-strategies-to-ransomware
- https://blog.chainalysis.com/reports/eastern-europe-cryptocurrency-market-2020
Ransomware Attacks
- Kaseya
- Colonial Pipeline
- JBS Holdings
Other
- Chainalysis
-
- Twitter: https://twitter.com/chainalysis
- Website: https://www.chainalysis.com/
- Who is REvil?
- Combating ransomware: https://securityandtechnology.org/ransomwaretaskforce/report/
- Why Gurvais joined Chainalysis: https://blog.chainalysis.com/reports/gurvais-grigg-chainalysis