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Group-IB and Swiss insurance broker ASPIS that owns CryptoIns project, have developed the world’s first scoring model for assessing cryptocurrency exchanges. Based on the risk score, CryptoIns experts have calculated insurance rates for cryptocurrency exchange users who can now insure their accounts against cyber threats.
AIG is one of the top cyberinsurance companies in the U.S. Today’s columnist, Erin Kennealy of Guidewire Software, offers ways for security pros, the insurance industry and government regulators to come together so insurance companies can continue to offer insurance for ransomware. eflon CreativeCommons CC BY 2.0.
Hackers were also quick to pounce on the disruption caused by the 2018 shutdown of the U.S. A recent domain hijack of Japanese cryptocurrency exchange Coincheck.com was used to spoof the company in a spear-phishing campaign. Many of these faux-Zoom sites were used to distribute malware under the guise of links to online meetings.
Evolution of mobile malware attacks – The first half of 2019 saw a 50% increase in attacks by mobile banking malware compared to 2018. The rise of cyberinsurance – Underwriters will sell more cyberinsurance policies for businesses and government agencies such as schools, hospitals and utilities. Eradication.
For access to the decryption key, the victim must make prompt payment, often in cryptocurrency shielding the attacker’s identity. The Ryuk ransomware family spawned in 2018 from a sophisticated Russia-based cybercrime group. Attackers will inform the victim that their data is encrypted.
Ransom payments are generally demanded in the form of untraceable cryptocurrency such as Bitcoin. This is quite a feat as it was only first discovered in mid-august 2018. In fact, one report shows that business email compromises are 23% of cyberinsurance claims.
With what we experienced in 2016 and 2018, is there any doubt there will be a rise in disinformation–homegrown and imported–of all stripe in the upcoming elections? Cryptocurrency miners will continue to get rich off of stolen electricity. You’re going to have personal cyberinsurance.
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