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Ransomware Attacks Demanding Crypto Are Unfortunately Here to Stay

imageCryptocurrency5 hours ago (Aug 09, 2020 05:20AM ET)

Ransomware Attacks Demanding Crypto Are Unfortunately Here to Stay

Year after year, the ransomware landscape changes dramatically. In 2019, a new resurgence of attacks occurred as businesses and government institutions became the main targets of ransomware, given their capacity to yield larger payouts.

The most recent attack was against Garmin (NASDAQ:GRMN), a navigation systems company, on July 23. Due to the attack, many of its online services such as customer support, website functions and company communications were affected. Reportedly, the Russian cybergang Evil Corp launched the attack, demanding $10 million in cryptocurrency to restore access to Garmin’s services.

Salisbury Police Department attacked

A $400,000 payout in Jackson County, Georgia

Baltimore attack

Two Florida cities hacked

Escalated attacks in 2020

University pays a 30 Bitcoin ransom demand

Attacks on healthcare and medical institutions

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Ransomware Attacks Demanding Crypto Are Unfortunately Here to Stay

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