Srsly Risky Biz: Data Theft Extortion Is Booming! Hooray!
Google's Threat Intelligence Group reports data theft extortion is surging, with Silent Ransom extracting $10M and $18M from two law firms and BlackFile taking $10M.
Risky Business News, citing Google Threat Intelligence Group (GTIG), reports that cybercriminals are shifting from encrypting ransomware to data theft extortion. Law firms Goodwin Procter and WilmerHale paid Silent Ransom (Luna Moth) ransoms of $10 million and $18 million respectively; GTIG says the group often completes contact-to-extortion in a single day, now sometimes compromising systems in person posing as IT staff. BlackFile, now calling itself Redact, used high-volume vishing to steal credentials and pivot through OneDrive, SharePoint and other SaaS apps, collecting more than $10 million between February and mid-May with an average ransom of $750,000, including attempted attacks on Wall Street hedge funds and private equity firms. The piece argues governments should keep pressure on encrypting ransomware gangs while lower-impact extortion absorbs criminal energy.