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Blockchain technology is about to transform every trust-based interaction of our lives, from financial services to identity, from health care to our Internet of Things devices. In this podcast, host Laura Shin talks with industry pioneers across tech, financial services, health care, government and other sectors about how the blockchain and cryptocurrency will open up new opportunities for incumbents, startups and everyday people to interact more efficiently, directly and globally.

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

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Episode Links



Kim Grauer - Director of Research at Chainalysis

Gurvais Grigg - Global Public Sector Chief Technology Officer at Chainalysis


Chainalsysis Ransomware Data


Ransomware Attacks