Sign in / up

back to article Shark bosses sink teeth into booming ransomware market

Cybercrooks are harnessing the “ransomware-as-a-Service” (RaaS) business model to mount a new scam. Coders distributing a ransomware builder to aspiring attackers that can be used on condition that a 20 per cent cut of any ransom payments it generates is returned to the original coders. The “Shark” ransomware is being …

COMMENTS

Post your comment
House rules Send corrections
Add to 'My topics' unstar *
  1. Tromos

    20 per cent cut

    What are the coders going to do if they don't get their cut? Hopefully, take it to court.

    0 0 Reply
    1. cbars Bronze badge
      Reply Icon

      Re: 20 per cent cut

      I would imagine that they either provide a bitcoin wallet, or the like, for the marks to pay into, and then return 80% of what is deposited to the perpetrators. Honour among thieves model.

      Or, they monitor the software and disable it if they don't see the "ca$h mon£y". Hit and hope model.

      0 0 Reply
      1. lglethal Silver badge
        Reply Icon

        Re: 20 per cent cut

        I'm hoping its the latter, as that would mean there would be control and command servers for the white hats and security bods to track down and take the whole damn package off the net...

        2 0 Reply
      2. Omar Smith
        Reply Icon

        Re: 20 per cent cut

        Just as a matter of interest, how does one extract ones bitcoin revenue into money that can be spent in the real world, without the transaction being traced back to yourself, purely as a matter of interest you understand.

        0 0 Reply
        1. e^iπ+1=0
          Reply Icon

          Re: 20 per cent cut

          "Just as a matter of interest, how does one extract ones bitcoin revenue into money that can be spent in the real world"

          Rent a mule?

          0 0 Reply
  2. alain williams Silver badge

    Which way round was that ?

    “Our research shows that advanced cybercrime groups now mirror legitimate organisations in the way they operate,

    and, increasingly, 'legitimate' organisations seem to be copying the cybercrime groups by employing tactics that are designed to confuse marks, sorry: customers, and scam them out of more money while denying any liability.

    5 0 Reply
  3. adam payne

    "Coders distributing a ransomware builder to aspiring attackers that can be used on condition that a 20 per cent cut of any ransom payments it generates is returned to the original coders."

    Honour amongst thieves. Hmmmm..interesting concept.

    0 0 Reply
    1. cd
      Reply Icon

      Not much different than the PHB returning from a lavish junket with a newly-signed contract.

      2 0 Reply
  4. Herby

    Multi level marketing...

    ...at its best.

    Long live capitalism.

    Now they need to sell cosmetics, or laundry detergent.

    0 0 Reply

POST COMMENT House rules

Not a member of The Register? Create a new account here.

Forgotten password ?

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Other stories you might like