CyberNews Briefs

No More Ransom Saves Victims Nearly €1 billion Over 5 Years

No More Ransom, a company that looks to prevent ransomware victims from paying millions of dollars to malicious hacking groups, has allegedly saved victims more than €1 billion over the past five years. No More Ransom wants to prevent incentivizing ransomware groups with large payouts and to protect victims from the financial loss of suffering from a ransomware attack. To date, the organization and its repository of ransomware decryptors have helped more than 6 million victims recover their files, keeping over one billion euros out of the hands of cybercriminals. The organization was launched five years ago as a collaboration between the European Cybercrime Center, Kaspersky, Barracuda, AWS, McAfee, and other cybersecurity companies.

No More Ransom urges all victims to refrain from paying the ransom, adding that it’ll only empower the criminals to keep attacking companies and organizations. Additionally, No More Ransom stated that there is no guarantee that companies will receive the decryption key they are seeking in return. The group directs victims to their Crypto Sheriff tool, where victims can enter the URL, onion, or Bitcoin address provided by the attacker to pay the ransom. This is then cross-referenced with hundreds of decryptors in the No More Ransom database.

Read More: No More Ransom Saves Victims Nearly €1 billion Over 5 Years

OODA Analyst

OODA Analyst

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