6 Recent Cyber Extortion Scams

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Publicated : 23/12/2024   Category : security


6 Recent Real-Life Cyber Extortion Scams

Cyber extortion is a growing threat in todays digital world, with hackers using various tactics to extort money from individuals and organizations. Here are six recent real-life cyber extortion scams that have made headlines:

What is cyber extortion?

Cyber extortion is the act of demanding money or other resources from a victim by threatening to release sensitive information or cause harm. Hackers often use ransomware or other forms of malware to carry out these attacks.

How do cyber criminals carry out extortion scams?

Cyber criminals carry out extortion scams through various methods, such as phishing emails, social engineering, and exploiting vulnerabilities in software systems. They may threaten to release confidential information, delete data, or disrupt services unless a ransom is paid.

What are some notable cyber extortion cases?

  • The Colonial Pipeline Attack: In May 2021, hackers targeted the Colonial Pipeline, a major fuel pipeline in the United States, and demanded a ransom of $4.4 million in cryptocurrency. The attack caused fuel shortages and disruptions along the East Coast.
  • The JBS Meat Processing Attack: In June 2021, JBS, one of the worlds largest meat processing companies, fell victim to a cyber attack that disrupted its operations in North America and Australia. The company reportedly paid an $11 million ransom to the hackers.
  • The University of California San Francisco (UCSF) Attack: In June 2020, UCSF paid a ransom of $1.14 million to cyber criminals who encrypted important data related to COVID-19 research. The university decided to pay the ransom to prevent the leak of sensitive information.

People Also Ask

How can individuals and organizations protect themselves from cyber extortion?

To protect themselves from cyber extortion, individuals and organizations should implement strong cybersecurity measures, such as using firewalls, antivirus software, and email encryption. They should also regularly back up their data and train employees to detect phishing attempts.

What should victims of cyber extortion do?

If a victim of cyber extortion receives a threat, they should report the incident to law enforcement and seek the help of cybersecurity experts. It is important not to pay the ransom, as it may only encourage further attacks.

Are there any laws against cyber extortion?

Many countries have laws that prohibit cyber extortion and punish those who engage in such activities. Victims of cyber extortion can seek legal recourse and work with law enforcement to track down the perpetrators.

Overall, cyber extortion scams are a serious threat that require vigilance and proactive measures to prevent and respond to effectively. By staying informed and implementing strong security measures, individuals and organizations can minimize the risk of falling victim to these ransom demands.


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6 Recent Cyber Extortion Scams