News & Analysis as of

Ukraine Ransomware

Baker Botts L.L.P.

'Ransom Cartel' Leader Indicted: A Reminder of Cybercrime’s Growing Reach

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The recent indictment of Maksim Silnikau, a Belarusian and Ukrainian national, is a clear reminder that cybercriminals are becoming more sophisticated and bold....more

Ankura

Trends and Moments that Defined 2022 & Predictions for 2023

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While there have been major developments in areas such as data security, cloud computing, and artificial intelligence over the past year, threat actors are becoming increasingly aggressive, sophisticated, and in some cases,...more

Kohrman Jackson & Krantz LLP

Why are Company Ransomware Payments Dropping Dramatically?

Companies are increasingly choosing not to pay ransom for ransomware and extortionware due to the growing associated risks. In fact, a recent report by crypto-crime analyst firm Chainalysis found that payments to threat...more

Ankura

Ankura CTIX FLASH Update - December 2022 - 2

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Colombian Energy Provider Empresas Públicas de Medellín Suffers ALPHV Ransomware Attack - Empresas Públicas de Medellín (EPM), one of Colombia's largest public energy, water, gas, sanitation, and telecommunication...more

Ankura

Ankura CTIX FLASH Update - October 2022 - 3

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Prestige Ransomware Emerges, Targets Ukraine and Poland - A new ransomware variant has emerged in the wild, being used in targeted attacks against the logistics and transportation sectors within Ukraine and Poland. The...more

Ankura

Ankura CTIX FLASH Update - September 2022

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"EvilProxy" Provides Low-Skill Threat Actors Access to Advanced Phishing Techniques - A new Phishing-as-a-Service (PaaS) platform dubbed "EvilProxy" has been discovered by Resecurity researchers. PaaS platforms allow...more

Lowenstein Sandler LLP

Trade Matters - Lowenstein Sandler's Global Trade & National Security Newsletter - August 2022

1. FinCEN and BIS Target Financial Institutions for Export Compliance- On June 28, the Financial Crimes Enforcement Network (FinCEN) and the Bureau of Industry and Security (BIS) issued their first joint alert urging...more

Ankura

LockBit Implements New Technique by Leaking Victim Negotiations

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While many ransomware groups come and go, LockBit seems to be the one that persists. First discovered in September 2019 using the name ABCD, and then gaining notoriety as LockBit in April 2020, the group has outlasted many of...more

Faegre Drinker Biddle & Reath LLP

Ransomware Payments Become an Even Riskier Choice Amidst the Ever-Growing Sanctions List

In February 2022, Executive Order 14024 highlighted that Russia’s invasion of Ukraine threatened not only Ukraine but also the national security and foreign policy of the United States. Pursuant to this executive order, and...more

Ankura

Ankura CTIX FLASH Update - June 24, 2022

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Spyware Vendor RCS Labs Observed Infecting Android and iOS users with Commercial Surveillance Tools - Google's Threat Analysis Group (TAG) published a report regarding RCS Labs' activity involving infecting Android and iOS...more

Wiley Rein LLP

RSA Conference Day 1: The Only Constant is Change

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I am at the RSA Conference 2022 in San Francisco, my first time as a member of the private sector, since retiring from the FBI last year. I attended one of the keynotes on the first day of the conference, in between panels on...more

Mintz - Privacy & Cybersecurity Viewpoints

Health Care Organizations Warned of Aggressive Ransomware Threat

Ransomware is the “business pandemic.” Warnings have been issued by multiple agencies around the world to alert businesses to increase their protection and awareness. Most recently, the Department of Health and Human...more

Benesch

Ransomware Response Complicated by Growing Number of Sanctions in Wake of Russian invasion of Ukraine

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Entities facing significant legal risk, no matter the circumstances, if they make ransom payments to attackers connected to, or originating from Russia. As the Russian invasion of Ukraine continues, the U.S. government...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - April 2022 #4

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CYBERSECURITY - Intelligence Points to Likely Russian Attacks on Critical Infrastructure - The cybersecurity authorities of the United States (including CISA, FBI, NSA and DOE), Australia, Canada, New Zealand, and the...more

Pillsbury - Internet & Social Media Law Blog

News of Note for the Internet-Minded (4/19/22) – IP and NFTs, Virtual Reality & Ransom(every)ware

In today’s News of Note, we explore ransomware-as-a-service profits, the continued untangling of IP issues with NFTs, the prospect of scented virtual reality experiences, the development of a humanoid robot, and much more....more

The Volkov Law Group

OFAC Focuses on Cybercrime by Sanctioning the Hydra Darknet Market and GARANTEX Cryptocurrency Exchange

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Continuing with both its crackdown on cybercriminals and illicit digital marketplaces, along with its continued economic pressure on the Russian Federation, OFAC has sanctioned two entities that fit both criteria.  On April...more

Robinson+Cole Data Privacy + Security Insider

Update on OFAC Cyber Sanctions List: Hydra and Garantex

On April 5, 2022, the U.S. Department of Treasury Office of Foreign Assets Control (OFAC) sanctioned darkweb Hydra Marketplace and virtual currency Garantex and added both to the Specially Designated Nationals List (SDN). ...more

Ankura

A Cyber Threat Analysis of the Russia-Ukraine Conflict

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The Ankura Cyber Threat Investigations & Expert Services (CTIX) team conducted a technical analysis of historical and ongoing adversarial activity associated with the current Ukrainian/Russian conflict. In doing so, the CTIX...more

Womble Bond Dickinson

Will an Act of War Destroy Your Cyberinsurance Coverage?

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Cyberinsurance spurs many complaints from US business. The cost is skyrocketing, retentions (deductibles) are rising quickly, and the insurance companies push their own panel lawyers on customers despite other relationships....more

Adams and Reese LLP

Critical Infrastructure Providers Face New Cybersecurity Reporting Requirements

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On Tuesday, March 15, President Joe Biden signed into law a $1.5 trillion government funding bill that included new legislation mandating critical infrastructure owners and operators to report a substantial cyber-attack and...more

Pillsbury - Internet & Social Media Law Blog

News of Note for the Internet-Minded – AI Tools, NFT Trading and Ransomware Misdeeds

Is Russia’s invasion of Ukraine altering the landscape of the internet? Can AI help historians decipher ancient texts? How did two siblings allegedly use a digital token to defraud investors? Explore this and more in today’s...more

Morgan Lewis

Update: Ukraine Conflict Has Implications for Cyberinsurance Policies, Including War Exclusions

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The conflict in Ukraine has raised significant cybersecurity concerns for businesses in the United States and across the world, resulting in an increased focus on using cyberinsurance to mitigate any resulting losses. The...more

Harris Beach PLLC

‘Shields Up’ on Cybersecurity in Wake of Ukraine Conflict

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Fears of cybersecurity attacks are mounting in the wake of the Russian invasion of Ukraine. From the war itself, a number of malware variants have been created and are circulating on the internet....more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights, Volume 3, Issue 4

War in the Time of Crypto - "In the Russia-Ukraine conflict, which side is crypto helping? Both." Why this is important: The world continues to watch Russia's invasion of Ukraine as it dominates news outlets. An...more

Alston & Bird

The Digital Download – Alston & Bird’s Privacy, Cyber & Data Strategy Newsletter – February 2022

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 Selected Developments in U.S. Law - SEC Proposed Rule Will Require Private Funds to Report Certain Cyber Events On January 26, 2022, the U.S. Securities and Exchange Commission (SEC) proposed new rules to enhance hedge fund...more

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