Blockchain

NETWALKER RANSOMWARE-AS-A-SERVICE RAKES IN MORE THAN $25M OF BITCOIN IN 4 MONTHS

Published

6 years ago

August 4, 2020

According to cybersecurity company McAfee, those behind NetWalker ransomware have raked in more than $25m USD since March 2020.

Ransomware-as-a-service

Use of the ransomware, which was first discovered in August 2019 and initially known as Mailto, increased noticeably in March according to McAfee Advanced Threat Research (ATR).

Furthermore, the ATR team says it has discovered a large sum of Bitcoins (BTC) linked to NetWalker, which they say suggests the extortion attempts have been effective, with victims having no option but to pay the ransoms.

Specifically, between 1 March and 27 July, 2,795 BTC were collected by the cybercriminals using NetWalker.

Investigators say NetWalker has evolved into a more stable and robust ransomware-as-a-service (RaaS) model, which likely means its operators are now attracting “broader range of technically advanced and enterprising criminal affiliates.”

This revenue sharing model means the ransoms received from attacks are split between different addresses, making the criminals harder to trace, and further incentivising more ransom attempts. Interestingly, it also looks like NetWalker operators are now using SegWit addresses, rather than legacy Bitcoin addresses – taking advantage of lower costs and faster transactions.

Investigators also note that, despite NetWalker being a relative newcomer, its underground advertising has been well received and the ransomware seems to have a good reputation among crooks. This has led them to deduce that one of those most actively promoting it, despite going by the new moniker “Bugatti”, is probably a seasoned, experienced and well-respected cybercriminal.

A worsening problem

According to McAfee, those using NetWalker are mostly targeting western European and US-based businesses – even hospitals, as evidenced by June’s attack on the Crozer-Keystone Health System.

Coordinated, sophisticated ransomware attacks are an escalating problem for businesses around the world, with Cointelegraph quoting a threat analyst from Emsisoft as saying companies paid more than $25 billion in ransom demands in 2019 alone.

As previously reported, it is thought multinational tech company Garmin may have paid a $10m crypto ransom to hackers in late July, after criminals encrypted its internal network, disrupting many of the company’s services, including customer support and navigation. The specific ransomware used in that attack was WastedLocker.

In the same month, US travel firm CWT fell victim to Ragnar Locker ransomware, and is thought to have paid out $4.5m to regain control of its systems.

AYO.NEWS says:

As we’ve said before, when a major company is hit by a sophisticated ransomware attack, it’s hard to see they have any other option than to pay up – every day that goes by is lost business, they risk incurring the wrath of their clients, and there doesn’t seem to be anything law enforcement can do except try and track down the crooks after the event.

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.

All original content featured on this site is © Pentagon Digital Limited, 2020

Related Topics:crime criminals cybercrime cybercriminals cybersecurity Featured hackers McAfee NetWalker ransom ransoms ransomware

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Blockchain

VCOIN LAUNCHES DEBIT CARD WITH UPHOLD: IMVU USERS EARN IN-GAME & SPEND IN REAL LIFE

VCOIN has teamed up with Uphold on a debit card that lets IMVU users spend currency earned in-game on real-world purchases.

Published

5 years ago

June 29, 2021

AYO News Staff

Vcoin launches debit card with uphold: imvu users earn in-game & spend in real life

VCOIN, the transferable digital currency used in the social metaverse app IMVU, has launched a debit card in partnership with digital money platform Uphold, allowing users to take value earned inside the virtual world and spend it in real life.

IMVU users can now withdraw VCOIN to an Uphold account and spend it using the Uphold debit card, earning 2% cashback on every purchase, both online and in store.

How the card works

The card is available first to US residents, with international availability to follow. Digital-only cards are free to order and use through the Uphold Card app, while a physical card carries a one-off fee of $9.95. Cashback on purchases is paid into the cardholder’s Uphold account.

From virtual economy to real wallet

VCOIN was first introduced inside IMVU, the friend-discovery and social metaverse app operated by Together Labs. IMVU runs one of the larger virtual economies of any social platform, with around 27 million transactions and 14 billion credits changing hands each month, according to the company.

The debit card closes the loop between that in-app economy and everyday spending. Creators and users who earn VCOIN by selling virtual goods or participating in the community can now convert those earnings into money they can use at ordinary merchants, rather than keeping the value locked inside the app.

A test case for the creator economy

The launch reflects a wider effort across gaming and virtual worlds to let users earn real income from in-game activity. It also highlights the regulatory hurdles involved: by routing withdrawals and spending through Uphold, an established and regulated money platform, VCOIN relies on a partner already set up to handle compliance, identity checks and card issuing.

How widely users adopt the card will be watched closely by other platforms considering whether to let virtual currencies flow out into the real economy.

Blockchain

ENGLISH PREMIER LEAGUE’S WOLVES ENTER ROCKET LEAGUE CHAMPIONSHIP SERIES

Published

6 years ago

November 5, 2020

AYO News Staff

English Premier League football club Wolverhampton Wanderers (Wolves) has entered the Rocket League Championship Series (RLCS).

Wolves already fields rosters in FIFA 21, FIFA Online 4, PUBG, Identity V, and Pop Kart Racing, and is the first Premier League club to enter the RLCS.

Discussing the news Wolves General Manager for Marketing and Commercial Growth, Russell Jones, said:

“Gaming and esports remain a crucial part of our brand growth strategy and signing such talented and ambitious players to represent our Rocket League esports team is another step forward in our journey to build stories outside of football and widen the appeal of the Wolves brand across the world.

“We have spent the last six months scouting teams and players and are delighted to welcome Rix, Luis and Ole, who will become Wolves Esports for the remainder of the current RLCS season X and beyond. We will be offering the team our full support as they compete in the winter split.

“I’d also like to thank the University of Wolverhampton who continue to be an exceptionally supportive partner of the Wolves Esports programme.”

While Team Captain of Wolves Esports Rocket League, Rix Ronday, added:

“It is a real honour to captain the first-ever Wolves Esports Rocket League team. I’m confident that we have recruited two of Rocket League’s most exciting talents in Ole and Luis and we are working hard behind the scenes to prepare for the RLCSX Winter Split kick-off.”

AYO.NEWS says:

Wolves have already demonstrated their enthusiasm for esports, using it to strengthen what is now a powerful global brand – for example, way back in February 2019, it became the first Premier League club to enter Chinese esports, through a partnership with Weibo eSports Club.

And, given the very real possibility of COVID-19 causing further disruption to football, diversifying the brand into multiple esports seems like a smart way to ensure fan engagement can continue, come what may.

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates.

All original content featured on this site is © Pentagon Digital Limited, 2020.

Blockchain

FIFA 21 CHALLENGE IS MOST WATCHED EA ESPORTS EVENT YET

Published

6 years ago

November 4, 2020

AYO News Staff

The EA SPORTS™ FIFA 21 Challenge has smashed the viewership record, with an Average Minute Audience of over 250K.

A one-day esports tournament that paired top global professional footballers with the world’s best FIFA players, the EA SPORTS™ FIFA 21 Challenge drew an average minute audience (AMA) of 254,057 with a total watch time of 1,024,696 hours, making the event the most-watched EA operated esports broadcast in history.

In fact, the broadcast more than doubled the viewership metric set by the next most-watched EA operated FIFA event, the FIFA Global Series FUT Champions Cup: Barcelona, which took place over multiple days in January 2018 and registered an AMA of 92,678.

During the competition, four esports players paired with four professional footballers from international clubs Liverpool, West Ham United, Inter Milan, and Borussia Dortmund, clashed on October 29 for the EA SPORTS FIFA 21 Challenge.

Liverpool’s Trent Alexander-Arnold and Fnatic’s Tekkz took home the trophy and won $20,000 on behalf of their selected charities

In addition to incorporating celebrity participation to reach non-traditional gaming audiences, the EA SPORTS FIFA 21 Challenge was the first event to utilize FIFA Global Series Viewership Rewards, creating an interactive broadcast for viewers with in-game benefits for watching to further drive engagement and subsequent play time.

Reflecting on the event EA SPORTS FIFA Commissioner, Brent Koning, said:

“EA SPORTS FIFA is woven into the fabric of football culture. Bringing professional footballers and our esports pros together creates entertainment that sets our tournaments apart.

“The success of the FIFA 21 Challenge reinforces our strategy and vision for broadening the esports audience, creating content for our fans, and underscores the value of entertainment-driven events that branch outside of traditional esports.”

The FIFA 21 Challenge was a part of a series of EA SPORTS FIFA 21 Global Series pre-season invitationals, featuring notable influencers, footballers, and FIFA pros, in partnership with the interactive entertainment world’s biggest video streaming and content platforms.

It’s a nod to EA’s renewed competitive gaming strategy, which leverages the convergence of traditional sports, competitive gaming, and pop culture to create new, engaging, and accessible broadcasts for diverse audiences.

AYO.NEWS says:

Viewership figures like this illustrate just how integrated esports, especially FIFA, is becoming in mainstream football culture, and the growth looks set to continue, and reflects well on EA’s competitive gaming strategy. Last month, EA announced improvements and a bigger prize pool for the upcoming esports season.