News
Censornet Comment: US State Department offers $10 million for hacking information
July 2021 by Richard Walters, CTO of Censornet
Following the news that the US State Department is offering $10 million reward for any information about hackers working for foreign governments, in a measure aiming at those participating in malicious cyber activities against the US critical infrastructure, Richard Walters, CTO of Censornet, offers the following comment;
“This is a significant reward that could turn the head of any ransomware hacker. If you’re willing to extort money from victims in ransomware attacks, you might be up for shopping a colleague for $10 million – assuming you know their identity, of course. Cybercriminals are masters of disguise and subterfuge, so it’s not guaranteed that they are in possession of any identifying information about their colleagues.
“Ransomware gang members may also think that it’s more profitable to stay in the game rather than turn super grass. The total amount businesses around the world will pay out to ransomware extortionists this year is predicted to be $20 billion - which is fifty-seven times more than the payments made back in 2015. Ransomware is a profitable business. Would hackers risk killing their golden goose by turning in a partner in crime?
“It is also worth considering the wisdom of making these payments. When you pay a ransom, there’s no guarantee a cybercriminal will come good on their promises and hand back your data. Can we really trust a hacker who informs on their colleagues? How can we guarantee they won’t lie or simply disappear with the money? We can’t, basically.
“Hackers are not to be trusted when it comes to ransomware negotiations, which is one reason why we advise that they shouldn’t pay ransoms. It might be wise for the US State Department to consider this fact when dealing with cyber-informants.”
