Bitcoin-seeking Ransomware Scam Busted

Two ransomware strains, CoinVault and Bitcryptor have been put to bed due to the joint efforts of law enforcement in Netherland and an independent cybersecurity firm. The authors of the malware sought ransom payments from victims in Bitcoin.

Ransomware thieves who took Bitcoin payments in return for victims to access their files freely after their rogue file-locking methods have been put out of work. Two authors who allegedly developed the ransomware were arrested in Netherlands and Kaspersky, a cybersecurity firm has confirmed that it has amassed 14,000 decryption keys that are required for victims to access their vaulted files.

Russian software security firm Kaspersky revealed the outcome of the operation on a website which also provides a decryption tool that victims can download for free.

The two ransomware strains had successfully infected thousands of PCs to encrypt data files on the victim’s hard drive before demanding a ransom payment worth hundreds of dollars in Bitcoin.

Cryptographic Ransomware

CoinVault and Bitcryptor are ransomware belonging to the cryptographic locker family of ransomware Trojans. They are

Read more ... source: TheBitcoinNews