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New Ransomware Encrypts Data And Steals Payment Info

By January 22, 2019June 2nd, 2022Cybersecurity

There’s a new strain of ransomware being deployed with increasing frequency.  Believe it or not, it’s even more dangerous than the strains we’ve seen in recent months.

Unlike other types of ransomware, this one not only encrypts your files and demands payment (which is bad enough) but it also attempts to steal your credit card information via a PayPal phishing page included in the code.

Most of the ransomware we’ve seen will lock up your files and demand payment in BitCoin.  This one offers you the choice of paying the fee via PayPal and provides a “helpful” link to facilitate payment.

Unfortunately, the link in question doesn’t point to PayPal, but to a phishing site that the hackers control. The site tries to get you to enter your credit card information, along with your PayPal credentials.  Most victims will be in such a rush to get their files unlocked that they won’t even think to look. Despite being a convincing copy of the PayPal payment screen, the domain is definitely not PayPal.

Of course, even after you hand over all the required information, no payment will be made. The victim will get a message that their PayPal account has been locked. No matter, the hackers already have your financial information and can max out your credit card or drain your bank account depending on the card information you provided.

This is the most sophisticated ransomware-based attack we’ve seen to date and is a clear sign of things to come.  Based on the early success this new strain is enjoying, we can expect to see an increasing number of hackers employing similar tactics as the threat matrix continues to shift, change, and evolve.

That’s bad news for IT security personnel, who are already struggling to stem the tide.  Stay on your guard.

Jason Manteiga

Jason J. Manteiga, Vice President of Olmec Systems, has been part of the company for over the past 20 years. He believes that having a great work environment and supportive team, is the ultimate key to success. Since being in the IT realm for over 25 years, Jason, along with Olmec Systems, has been on the Inc. 5000 “List of America’s Fastest Growing Private Companies” and Channel Futures MSP 501 “Top Managed Service Providers in North America,” along with other awards and nominations. Jason earned his Bachelor Degree in Information Systems from the New Jersey Institute of Technology. He also holds certifications in Microsoft MCSE, VMWare VCP, and Cisco CCNA. In his spare time, Jason is a contributor for The Center for Social & Legal Research (Privacy Exchange) and a member of the Morris County Chamber of Commerce. His hobbies include cycling and kayaking. He currently lives in New Jersey with his wife, two daughters and son.