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Unchained

657 EpisodesProduced by Laura ShinWebsite

Crypto assets and blockchain technology are about to transform every trust-based interaction of our lives, from financial services to identity to the Internet of Things. In this podcast, host Laura Shin, an independent journalist covering all things crypto, talks with industry pioneers about how cry… read more

57:09

How Ransomware Evolved Into a Big Business - Ep.256

Gurvais Grigg, Chainalysis public sector CTO, and Kim Grauer, director of research at Chainalysis, review the ransomware landscape. Show Highlights:

  • their backgrounds and roles at Chainalysis
  • how a ransomware attack works
  • what types of businesses are usually targeted in ransomware attacks
  • why ransomware as a service (RAAS) is a booming business
  • why Kim and Gurvais believe the hacking group REvil is becoming more sophisticated
  • what characteristic of REvil hints that the group could be affiliated with Russia
  • how the RAAS business model works
  • how ransomware payments can be tracked
  • why ransomware reporting has a data problem
  • why Bitcoin is the preferred method of payment amongst ransomware attackers
  • what two factors makes BTC preferable to privacy coins
  • how ransomware groups teach victims to transfer BTC
  • how ransomware groups cash out of their BTC
  • how counter-terrorism tactics can help fight ransomware attacks
  • how the Department of Justice may have partially recovered part of the Colonial Pipeline ransomware payment
  • what tools and strategies governments can and will use to battle ransomware

Thank you to our sponsors!

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2 

Tezos: https://tezos.com/discover?utm_source=laura-shin&utm_medium=podcast-sponsorship-unconfirmed&utm_campaign=tezos-campaign&utm_content=hero 

Conjure: https://conjure.finance 

 

Episode Links

 

People

Kim Grauer - Director of Research at Chainalysis

Gurvais Grigg - Global Public Sector Chief Technology Officer at Chainalysis

 

Chainalsysis Ransomware Data

 

Ransomware Attacks

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