Ransomware group known to use Monero and Bitcoin targets Italian asset manager – CryptoSlate

0

A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›
Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.
If you don’t have enough, buy ACS on the following exchanges:
Access Protocol is a web3 monetization paywall. When users stake ACS, they can access paywalled content. Learn more ›
Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.
The global crypto market cap is $1.18 trillion with a 24-hour volume of $25.69 billion. The price of Bitcoin is $29,213.56 and BTC market dominance is 48.3%. The price of Ethereum is $1,860.06 and ETH market dominance is 19.0%. The best performing cryptoasset sector is Sports, which gained 24%.
The cybercrime group BlackCat tried but largely failed to attack Azimut.
Cover art/illustration via CryptoSlate
The Italian asset manager Azimut has been targeted by the international ransomware group BlackCat, Reuters reported on July 24.
Reuters said that the company disclosed the cyberattack on the same day and added that the firm has rejected any demand for a ransom payment.
The company suggested that the attack did not harm client data, stating:
 “The attack did not affect data or information that might allow access to the personal position of clients and financial advisors or the execution of unauthorized transactions.”
Azimut detected unauthorized access to its IT systems during routine monitoring. It promptly informed relevant authorities and initiated an internal safety procedure, which successfully limited the effects of the attack.
The Israeli cybersecurity startup DarkFeed and California-based cybersecurity firm Palo Alto Networks both identified BlackCat as the group responsible for the attack. The latter firm said that BlackCat stole more than 500 GB of data from Azimut.
Most ransomware groups rely on cryptocurrencies for payment due to the relative difficulty of tracking blockchain transactions.
BlackCat is not an exception. Cybersecurity firm SafeBreach said in 2022 that the group demands ransoms in Monero (XMR) and Bitcoin (BTC) between $400,000 and $3 million. It also suggested that victims must pay an additional 15% fee if they pay in Bitcoin.
The group presumably charges that extra fee due to the fact that Bitcoin has fewer privacy features than Monero. In order to keep illegal Bitcoin transactions private, BlackCat would need to launder funds through a coin mixer and pay the relevant fees. Separate reports from the U.S. Department of Health and Human Services’ cybersecurity division suggests that the group does indeed move Bitcoin through mixers.
Despite BlackCat’s reliance on crypto, Reuters’ report does not make any mention of cryptocurrency or the amount of crypto BlackCat demanded from Azimut.
Incidentally, Azimut itself has invested in blockchain ventures including the mining firm Alps Blockchain and partially crypto-focused asset manager Diaman Partners.
There is no indication that those actions are related to BlackCat’s decision to target the company, as the cybercrime group has targeted various non-crypto organizations. Most recently, the group claimed an attack on cosmetics company Estelle Lauder.
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.
CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and data. Focusing on Bitcoin, macro, DeFi and AI.
CryptoSlate dives deep into RFK Jr.’s proposal to partially back the U.S. dollar with Bitcoin to explore its (un)feasibility.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Monero is an open-source cryptocurrency that focuses on privacy, decentralization, and scalability..
The cybercrime group BlackCat tried but largely failed to attack Azimut.
Since the beginning of July, Bitcoin’s trading has declined to the lowest levels since April.
Evidence of a wallet holding 5292 BTC ($154.3 million) has emerged.
Crypto entrepreneur Sina Estavi’s effort to sell the NFT since 2022 has been futile as the once-booming market fizzles.
The former Alameda Research CEO, who details her relationship with disgraced FTX CEO Sam Bankman-Fried in the previously unreported documents, is set to be the star witness in his upcoming criminal trial.
The three individuals account for about $8,000 of the total on-site bounties.
Crypto entrepreneur Sina Estavi’s effort to sell the NFT since 2022 has been futile as the once-booming market fizzles.
Bachiashvili is a powerful figure in Georgia, having founded a private equity firm that contributes about 40% to the country’s GDP.
Kennedy has been a vocal supporter of the crypto industry since he began his campaign.
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
© 2023 CryptoSlate. All rights reserved. Disclaimers | Terms | Privacy

Please add [email protected] to your email whitelist.
Stay connected via

source

Leave a Reply

Your email address will not be published. Required fields are marked *