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Cryptocurrencies like Bitcoin are becoming the preferred payment method in ransomware attacks, in which computer data is held hostage by malicious software. But crypto's anonymity means cybercriminals are becoming even harder to trace and prosecute.

The rise of ransomware attacks directed at U.S. companies is creating demand for a new service from cybersecurity companies: ransomware negotiations. 

Ransomware attacks have become one of the biggest threats in cybersecurity today. Cybercriminals have blocked access to a major US oil pipeline, shut down hospitals in Ireland and halted operations in the world's largest meat processing company.

Kurtis Minder told CNN when discussing ransomware negotiation: "Part of this whole process is also about being a counselor and helping them (the victim) remain objective during this unfortunate event." 

Recent ransomware attacks have shown just how vulnerable any business can be to hackers. The growing threat has forced some companies to negotiate with hackers, and has created a whole new business to help corporations navigate the process. Kurtis Minder, a ransomware negotiator and the founder and CEO of GroupSense, joined CBSN to discuss.

Kurtis Minder, #GroupSense CEO, speaks to Bloomberg about ransomware and ransomware negotiations  at 41:52. 

Join this month's episode of The (Security) Balancing Act as Diana Kelley and guests discuss why ransomware is surging again, which sectors are most at risk, the threat to enterprises and how it is being used for more than just ransom (ex: distractionware, destructionware, etc).
- The rise in ransomware under the cloak of the pandemic
- Why email continues to be the channel of choice
- The difference between fully automated and human-operated campaigns
- How to decide whether or not to pay or not to pay the ransom
- Why your backups may not be immune to ransomware
- Addressing the threat with best practices

Speakers
- Nicole Hoffman, Intelligence Analyst, GroupSense
- Courtney Radke, CISO for National Retail, Fortinet
- Patrick Lee, Senior Incident Response Consultant, Rapid7

Big Game Hunting, the targeted large-scale ransomware campaign, is now regarded as the primary cyber threat to organizations across all sectors including financial, healthcare, and government in 2021. Leaking stolen data in an effort to pressure victims into paying is part of a broader trend across the BGH ecosystem. In the recent headlines, the ransomware operators go beyond the traditional dominance of Windows operating systems and now target VMware ESXi hypervisor. In this Ransomware Battleground, let’s look at how SPRITE SPIDER(Defray777 Ransomware) and CARBON SPIDER (Parkside Ransomware) operate in volume tactics. How do Cybercrime actors now back to use Linux variants of ransomware configured specifically to affect ESXi hosts?

In this talk, we will cover:
- What are Big Game Hunting tactics? And what did ransomware operator behavior change during Covid-19? (from POS to ESXi)
- How do you defend encrypting virtual infrastructure in your corporate network? Credential harvesting and payload ingesting?
- Why is Agentless Zero Trust Isolation and Ransomware Kill Switch the answer to stop Hypervisor "Jackpotting"?

Ever thought of hiring a ransomware negotiator, or becoming one yourself? On today’s episode, Kurtis Minder of GroupSense tells us what makes a good ransomware negotiator, why setting the right tone is crucial in a successful negotiation, and why, in the right situation, you can get away with referring to a ransomer as “grasshopper.”