Chinese hackers behind spate of ransomware attacks on US companies, security firms conclude









Chinese hackers behind spate of ransomware attacks on US companies, security firms conclude

Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on US companies said.

Ransomware, which involves encrypting a target’s computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals.

But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions.

As most people are well aware of by now, ransomware is an extremely annoying type of computer infection, as users are locked out of all of their files. Restoring files from a backup is not always possible either, as a lot of Bitcoin ransomware strains delete shadow volumes from the computer as well. But these attacks against US companies were not carried out by your run-of-the-mill basement Internet geek.

Instead, the report states how several cases have been discovered where a higher level of sophistication has been used to infect computers. These types of tactics are usually associated with state-sponsored attacks and include deploying remote control software, as well as spreading other malware to move around computer networks.

Although application servers are a major target for hackers due to their inherent security vulnerabilities, it still takes a particular level of skill to trick networked computers into installing Bitcoin ransomware. One unnamed technology company had nearly one in three computers infected by this ransomware at the time of attack.

Assuming the findings of this report are true, the question becomes why Chinese hackers would be resorting to Bitcoin ransomware for attacking companies. One theory suggests how state-sponsored hackers in China are looking at ransomware as a way to supplement their “income,” as the number of jobs has declined in the sector due to reduced support for economic espionage.