CryptoLocker malware ransom reduced
Posted by: Timothy Weaver on 11/26/2013 11:42 AM
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Security firm F-Secure spotted variants of the malware, CryptoLocker, that indicates that the hackers are reducing the ransom price on infected machines. The soaring price of BitCoin has prompted the cybercrooks to reduce the ransom from 2 BTC to 0.5 BTC.
The price of Bitcoin has been wildly volatile lately. And that type of commodity volatility affects Bitcoin's ability to act as a currency because prices are quickly driven out of whack. Even for ransomware such as CryptoLocker.
Since the scam surfaced in September, the value of Bitcoin has rocketed. It started out as a demand for $300, but had ended up being a demand for more than $1,400 earlier this week. That was pushing the envelope and the hackers were afraid that people wouldn't pay that amount.
CryptoLocker normally arrives in email as an executable file disguised as a PDF. It is often in a .zip attachment.
The price of Bitcoin has been wildly volatile lately. And that type of commodity volatility affects Bitcoin's ability to act as a currency because prices are quickly driven out of whack. Even for ransomware such as CryptoLocker.
Since the scam surfaced in September, the value of Bitcoin has rocketed. It started out as a demand for $300, but had ended up being a demand for more than $1,400 earlier this week. That was pushing the envelope and the hackers were afraid that people wouldn't pay that amount.
CryptoLocker normally arrives in email as an executable file disguised as a PDF. It is often in a .zip attachment.
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