BTC Ransom Victim Won’t Say How It Got Keys To Stopping The Attack

BTC Ransom victim Kaseya which sells IT software to businesses all across the world announced it obtained a universal decryptor key to stopping an attack but won’t say how it got the keys from stopping the attack. The company faced a $70 million BTC ransom as we read more in our latest bitcoin news today.

The hackers demanded $70 million in BTC and Kaseya said that it stopped the attack after it got the keys from a trusted third party but declined to provide more details. Ransomware is malicious software that locks users out o the computer network until they pay the hackers often in BTC and can be sent without going through a bank. JBS USA one of the biggest meatpackers in the US, paid $11 million in BTC to Russian cybercriminals in ReVil in June so that it could rester the plants and get one-quarter of the nation’s beef supply back in the grocery stores.

Updates Regarding VSA Security Incident
July 3, 2021 – 10:30 AM EDT https://t.co/B2lvcxOvdm

— Kaseya Corp (@KaseyaCorp) July 3, 2021

Colonial Pipeline controls the flow of half the fuel along the East Coast and made a $4.4 million payment to another Russia-linked hacking group DarkSide and the federal law enforcement officials were able to recover most of the ransom citing Colonial’s quick communication with the Department of Justice as a reason. All of this leads to suspect that Kaseya could have paid the $70 million ransom with or without coordination from the US governemnt. The Treasury Department warned companies against paying the hack groups directly or through a third party. House Oversight Chair Carolyn Maloney pressured the issues again after the Colonial Pipeline attack.

There could be other explanations as to how the BTC Ransom victim Kasyea got encryption tools and one of the explanations is that the US pressure on Russia is working. President Joe Biden told Vladimir Putin that Russia will be held responsible for ransomware operations in Russia even if they are not state-sponsored which provided the US shares information Russia can act upon. A week later, the website for REVil went offline. Also, Kaseya clients could have pitched in. Blockchain analytics firm Chainalysis estimated that hackers received at least $81 million in ransom payments this year alone and to deal with it, the US set up a Ransomware Task Force.

Kaseya and its clients were a victim of a ransomware attack in July but the company obtained a decryptor key and shared it with its clients but it still won’t tell how it got the tool. IT Software provider Kaseya denied paying off the ransom after it got crippled by an attack attributed to Russia-based hacking group REVil. The ransomware attack compromised the software and removed the clients’ administrator access and ReVIL demanded $70 million to BTC to restore normal operations.