This Website Has Been Seized

$60M Gone in a Click And It Could Happen to You!

Aug 16, 2024

FBI Takes Down Ransomware Gang! When Cyber Villains Meet Their Match✨

It appears that the FBI has made significant progress in the never-ending war on cybercrime. Just like a bad magician's trick, the notorious ransomware group known as “Radar (or Dispossessor)” recently had its servers taken out from under it. Imagine the FBI crashing the party and telling everyone, “Nope, you’re done!” that’s basically what happened.

Since its launch in August 2023, Radar/Dispossessor has been on the rampage, breaching at least 43 companies. And no, they went full-on villain mode they didn't just take a few passwords. They took advantage of security holes, stole large amounts of data, and encrypted it so securely that a crowbar would be required to extract it, among other strategies. Afterwards, they would demand a ransom from their victims and make threats to expose the stolen information. The classic "double extortion" tactic.

The FBI took control of the gang's servers and domains rather than just sending a strongly worded letter. Imagine the law enforcement team has added a cute new message to the Radar website that says, “This website has been seized.” Yes, they possess a digital notice of eviction. It was like being thrown out of your own home, except this home was a shady cyber hideout rather than your usual place of comfort.

The FBI's Cleveland office, which was obviously busy on Monday, disclosed that the gang had stolen infrastructure from Germany and the United Kingdom. Not to be overlooked is the mastermind, also known by the exciting name "Brain." (Yes, "Brain." This is not imaginary.) Considering that they were evaded by the cyber-equivalent of a police raid, it appears that Brain and his gang of miscreants were not as clever as they initially appeared.

Naturally, this does not imply that the FBI has transformed overnight into a superhero that is eliminating the internet of hackers one by one. No, ransomware is still rampant and there's no doubt that other gangs are busy planning their next cyber-heist. Well, little victories nonetheless. We'll accept what we're given.

So, next time you’re worried about your phone getting hacked or the mysterious disappearance of your Wi-Fi password, remember: even the "Brain" of the operation can’t outsmart the digital landlord. And if Brain’s reading this, here’s a little advice: maybe pick a new nickname. Something that reflects your recent eviction notice, like “Foreclosure.”

Texas Company Loses $60M in Wire Transfer Scam

In what might be the plot twist no one asked for, Texas-based carbon black company Orion managed to wave goodbye to a cool $60 million after falling victim to a wire transfer scam. Yes, 60 million. Gone! Vanished!! Poof!!! It’s like watching your lottery winnings disappear into the void except in this case, you didn’t even win the lottery, you just got played. They got duped in a classic move that could’ve been straight out of a “Man-in-the-Middle Attack” playbook.

For those new to the world of hacking terms, a man-in-the-middle attack is where a sneaky cybercriminal plants themselves between two innocent parties like your finance team and the CEO then intercepts and alters their communication. The way Orion announced this small disaster to its investors seems to be similar to how you would casually tell them you lost your keys. The hacker essentially becomes the invisible middleman, passing fake wire instructions; someone at Orion likely received an email stating, "Hey, it's your CEO!" Kindly send $60 million immediately to this account. Thank you, K.

***While they laugh all the way to the bank***

These kinds of schemes are typically very clever, but the company didn't reveal too many details (possibly because they're still crying into their balance sheets). They can be anything from advanced deepfake phone calls from "the boss" demanding money immediately to hacked executive emails instructing staff to transfer funds. The finest aspect? These con artists are able to sound more credible than real executives could ever hope to. You get the idea.

And because irony is a great teacher, it seems this scam isn’t exactly rare. The FBI probably still rubbing its temples over cases like these estimates that billions have been lost to similar scams. Yes billions! These criminals aren’t playing small ball; they’re running a heist that makes “911” look like a London knife robbery, you can ask “The knife angel”.

Now, let’s be real guys! The average person wouldn’t fall for someone faraway asking for your banking details, all it takes is verifying instructions through other means and using a bit of common sense. But when it’s your CEO “needing” millions wired to some offshore account before lunchtime, apparently people forget that the CEO barely knows how to turn on their webcam, let alone make urgent money requests via email.