One Cybercrime Gang Extorted $75 Million From Targets: Study

April 7, 2021, 10:00 AM

One gang of cybercriminals extorted at least $75 million from private sector companies, local governments and hospitals, a former NSA contractor concluded in a months-long study released Wednesday, an alarming sign of the potential financial rewards for online attacks.

Jon DiMaggio, the chief security strategist at Virginia-based Analyst1, estimated the group known as Twisted Spider used the Egregor ransomware to extract at least that amount from his targets, according to publicly acknowledged ransom payments. He believes the real number is much higher, because “many victims never publicly report when they pay a ransom” and the “bad guys don’t post their...

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