Sign of ransomware growth: Gangs now arbitrate disputes
RICHMOND, Va. — Cyber criminal gangs are getting increasingly adept at hacking and becoming more professional, even setting up an arbitration system to resolve payment disputes among themselves, according to a new report by the United States, Australia and the United Kingdom that paints a bleak picture of ransomware trends.
Ransomware gangs, which hack targets and hold their data hostage through encryption, caused widespread havoc last year with high-profile attacks on the world’s largest meat-packing company, the biggest U.S. fuel pipeline and other targets.
