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Ransomware gang hacks Ecuador's largest private bank, Ministry of Finance A hacking group called 'Hotarus Corp' has hacked Ecuador's Ministry of Finance and the country's largest bank, Banco Pichincha, where they claim to have stolen internal data. The ransomware gang first targeted Ecuador's Ministry of Finance, the Ministerio de Economía y Finanzas de Ecuador, where they deployed a PHP-based ransomware strain to encrypt a site hosting an online course. Ministerio de Economía y Finanzas de Ecuador website Security researcher G

Egregor ransomware members arrested by Ukrainian, French police A joint operation between French and Ukrainian law enforcement has reportedly led to the arrests of several members of the Egregor ransomware operation in Ukraine. As reported first by France Inter, on Tuesday, law enforcement made the arrests after French authorities could trace ransom payments to individuals located in Ukraine. The arrested individuals are thought to be Egregor affiliates whose job was to hack into corporate networks and deploy the ransomware. France Inter also re

Ransomware: Should Governments Hack Cybercrime Cartels? Banning Ransom Payments and Unleashing Offensive Hacking Teams Being Mooted Britain's former cybersecurity chief, Ciaran Martin, has urged the government to review cyber insurance payouts being used to fund ransom payments. (Photo: Mathew Schwartz) Crime doesn't pay - except perhaps when it comes to ransomware, which continues to fuel a massive surge in illicit proceeds. With such profits appearing to be at an all-time high, clearly something needs to be done to blunt ransomware-wielding extortionists' f

Nefilim Ransomware Gang Hits Jackpot with Ghost Account An unmonitored account belonging to a deceased employee allowed Nefilim to exfiltrate data and infiltrate systems for a month, without being noticed. A Nefilim ransomware attack that locked up more than 100 systems stemmed from the compromise of an unmonitored account belonging to an employee who had died three months previously, researchers said. Nefilim (a.k.a. Nemty) is a ransomware strain that emerged in 2020, with its operators adopting the tactic that researchers call