How Ransomware Evolved Into a Big Business

How Ransomware Evolved Into a Big Business

Gurvais Grigg, Chainalysis public sector CTO, and Kim Grauer, director of research at Chainalysis, review the ransomware landscape. Show Highlights:

  • their backgrounds and roles at Chainalysis
  • how a ransomware attack works
  • what types of businesses are usually targeted in ransomware attacks
  • why ransomware as a service (RAAS) is a booming business
  • why Kim and Gurvais believe the hacking group REvil is becoming more sophisticated
  • what characteristic of REvil hints that the group could be affiliated with Russia
  • how the RAAS business model works
  • how ransomware payments can be tracked
  • why ransomware reporting has a data problem
  • why Bitcoin is the preferred method of payment amongst ransomware attackers
  • what two factors makes BTC preferable to privacy coins
  • how ransomware groups teach victims to transfer BTC
  • how ransomware groups cash out of their BTC
  • how counter-terrorism tactics can help fight ransomware attacks
  • how the Department of Justice may have partially recovered part of the Colonial Pipeline ransomware payment
  • what tools and strategies governments can and will use to battle ransomware

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Episode Links



Kim Grauer - Director of Research at Chainalysis

Gurvais Grigg - Global Public Sector Chief Technology Officer at Chainalysis


Chainalsysis Ransomware Data


Ransomware Attacks


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