Ransomware group known to use Monero and Bitcoin targets Italian asset manager

The Italian plus manager Azimut has been targeted by the planetary ransomware radical BlackCat, Reuters reported connected July 24.

Reuters said that the institution disclosed the cyberattack connected the aforesaid time and added that the steadfast has rejected immoderate request for a ransom payment.

The institution suggested that the onslaught did not harm lawsuit data, stating:

 “The onslaught did not impact information oregon accusation that mightiness let entree to the idiosyncratic presumption of clients and fiscal advisors oregon the execution of unauthorized transactions.”

Azimut detected unauthorized entree to its IT systems during regular monitoring. It promptly informed applicable authorities and initiated an interior information procedure, which successfully constricted the effects of the attack.

The Israeli cybersecurity startup DarkFeed and California-based cybersecurity steadfast Palo Alto Networks some identified BlackCat arsenic the radical liable for the attack. The second steadfast said that BlackCat stole much than 500 GB of information from Azimut.

BlackCat is known to usage crypto

Most ransomware groups trust connected cryptocurrencies for outgo owed to the comparative trouble of tracking blockchain transactions.

BlackCat is not an exception. Cybersecurity steadfast SafeBreach said successful 2022 that the radical demands ransoms successful Monero (XMR) and Bitcoin (BTC) betwixt $400,000 and $3 million. It besides suggested that victims indispensable wage an further 15% interest if they wage successful Bitcoin.

The radical presumably charges that other interest owed to the information that Bitcoin has less privateness features than Monero. In bid to support amerciable Bitcoin transactions private, BlackCat would request to launder funds done a coin mixer and wage the applicable fees. Separate reports from the U.S. Department of Health and Human Services’ cybersecurity part suggests that the radical does so determination Bitcoin done mixers.

Despite BlackCat’s reliance connected crypto, Reuters’ study does not marque immoderate notation of cryptocurrency oregon the magnitude of crypto BlackCat demanded from Azimut.

Incidentally, Azimut itself has invested successful blockchain ventures including the mining steadfast Alps Blockchain and partially crypto-focused plus manager Diaman Partners.

There is nary denotation that those actions are related to BlackCat’s determination to people the company, arsenic the cybercrime radical has targeted assorted non-crypto organizations. Most recently, the radical claimed an onslaught connected cosmetics institution Estelle Lauder.

The station Ransomware radical known to usage Monero and Bitcoin targets Italian plus manager appeared archetypal connected CryptoSlate.