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Re:US travel firm $4.5M ransom negotiation open chat by gruez on Sunday August 02, 2020 @10:43PM (#24033718)
>This kind of attack would be almost impossible in the pre-bitcoin era.

Is it? VIPs are regularly held for ransom in unstable countries, so much so that ransom insurance is a thing[1]. If those ransoms can be safely received, why can't it be the case for ransomware ransoms?

[1] https://en.wikipedia.org/wiki/Kidnap_and_ransom_insurance

Re:US travel firm $4.5M ransom negotiation open chat by walrus01 on Sunday August 02, 2020 @11:11PM (#24033858)
I don't see how the two are similar, because traditional kidnapping/ransom requires someone to somehow take physical delivery of a ransom in cash or highly portable, dense valuables (gold bars etc), which is risky. They're certainly not going to do it by ACH or SWIFT. The bitcoin part makes it non tangible and could be done from anywhere in the world.
Re:US travel firm $4.5M ransom negotiation open chat by gruez on Sunday August 02, 2020 @11:16PM (#24033888)
>The bitcoin part makes it non tangible and could be done from anywhere in the world.

It streamslines it, yes, but it doesn't make it "almost impossible" to pull off like gp claims. Russia is listed as a "high risk" area in the wikipedia article for ransoms, so if they can pull off a ransom exchange (with human hostages) there, I can totally imagine russian hackers being able to pull off a ransom exchange with cryptographic keys. If anything, it's probably easier to pull off than a regular ransom because you don't have to contend with a human hostage.

Also, a quick skim of wikipedia[1] suggests that buying/selling of stolen credit card info predates the creation of cryptocurrency. If cybercriminals were able to find ways of transferring money back then, I'm sure ransomware authors can use the same methods to transfer money today.

[1] https://en.wikipedia.org/wiki/Credit_card_fraud -> https://en.wikipedia.org/wiki/Albert_Gonzalez -> https://en.wikipedia.org/wiki/ShadowCrew

Re:US travel firm $4.5M ransom negotiation open chat by asiachick on Monday August 03, 2020 @12:31AM (#24034259)
Does the average 16yr old hacker have access to currency in unstable countries. The average 16yr old does have access to bitcoin.

From the comment you were replying to

> we're democratizing large scale crime. Previously only large organized crime organizations could perform such an attack. Now, almost anyone can.

That seems true and the main point. That it's gotten significantly easier for anyone to do this.

Re:US travel firm $4.5M ransom negotiation open chat by avs733 on Sunday August 02, 2020 @10:49PM (#24033754)
is there a market for ransomware insurance?
Re:US travel firm $4.5M ransom negotiation open chat by pirocks on Sunday August 02, 2020 @10:59PM (#24033804)
There's generic cyber attack insurance so yes.
Re:US travel firm $4.5M ransom negotiation open chat by aerovistae on Sunday August 02, 2020 @10:59PM (#24033801)
If there were, the prices to unlock would skyrocket.... Unlike most kinds of insurance, the cost here is not a set thing.... It's arbitrary.
Re:US travel firm $4.5M ransom negotiation open chat by gruez on Sunday August 02, 2020 @11:12PM (#24033866)
Can't you apply the same logic to regular ransoms? They say life is priceless, but there's clearly a limit. Also, unlike a human lie, there is a substitute for the unlock key... rebuilding your business from scratch.
Re:US travel firm $4.5M ransom negotiation open chat by jdxcode on Sunday August 02, 2020 @11:01PM (#24033812)
couldn't you just store your data in append-only fashion?