This new ransomware scam will hassle you with phone calls until you pay up | TechRadar

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This new ransomware scam will hassle you with phone calls until you pay up

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By Sead Fadilpašić

 published yesterday

Victims threatened with repeated phone calls

 

 

 

 

 

Image credit: Pixabay (Image credit: Pixabay)

A new ransomware group has been discovered harassing its victims on the phone until they pay up. 

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A report from anti-ransomware company, Halycon said that Volcano Demon was seen going after “several” targets in the last couple of weeks, deploying a new encryptor called LukaLocker. 

Its methodis relatively simple – the threat actor will first find a way into the target network, map it out, and then exfiltrate as many sensitive files as they can. Then, they will deploy the encryptor, lock down the files and entire systems, and then demand payment in cryptocurrency in exchange for the decryption key, and for keeping the files for themselves.

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The court order details how, instead of generating returns through investments, Ikkurty used funds from new investors to pay out promised returns to earlier participants. This practice, known as a Ponzi scheme, is inherently unsustainable and ultimately leads to the collapse of the scheme when new investors dry up.

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In a short press release, the FIA confirmed recent phishing attacks resulted in “unauthorized access to personal data contained in two email accounts belonging to the FIA.”

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Victims are often lured through phishing comments from impersonated accounts on X. Once on the phishing site, they are tricked into making seemingly legitimate transactions from their non-custodial wallets, resulting in unauthorized fund access.

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“In its essence, the RockYou2024 leak is a compilation of real-world passwords used by individuals all over the world. Revealing that many passwords for threat actors substantially heightens the risk of credential stuffing attacks,” researchers said.

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From individual cybercriminals to organized groups, cyber crime has become a social epidemic that knows no borders. Cyber criminals use psychological manipulation, phishing, and malware to exploit individuals and organizations, causing financial losses and disrupting business operations.

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Risk is everywhere these days, with attacks seemly coming at our businesses from all angles — ransomware, phishing, social engineering, and an ever-growing host of vulnerabilities that can be exploited.

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These breaches not only affect the individuals whose data was irretrievably exposed, but also embolden the criminals who profit from their malicious cyberattacks.