More than $16 Million Ransomware Payments Have Been Made in the Past 2 Years

Researchers from the NYU Tandon School of Engineering have studied ransomware payments learning that $16 million in ransomware payments have been tracked in the past two years by researchers with South Korea paying about $2.5 million as the country has been hard hit by the impact of ransomware. … "Ransomware operators ultimately direct bitcoin to a central account that they cash out periodically, and by injecting a little bit of our own money into the larger flow we could identify those central accounts, see the other payments flowing in, and begin to understand the number of victims and the amount of money being collected," says Damon McCoy, an assistant professor of computer science and engineering at the NYU Tandon School of Engineering and who led the research.

(see more)