Ransomware Gang now targets organizations listed on NASDAQ, by shorting stock prices of its victims. With the change in the extortion tactics, the bad actors list the names of traded organizations on its website, this has a negative impact on the stock price as they plummet and they make a profit from it.
According to the record media, the hackers published on their dark website their willingness to provide information to crooked traders in advance. This will enable them to short a company’s stock price before they list its name on their website as a victim.
What is the Current Scenario?
- It is an indirect technique applied to scare hacked organizations not paying up the ransom. This results in having a negative impact on the stock prices in the market.
- Earlier ransomware gangs have been known to try such tactics but security researchers claim they have not gained long-term success with it.
- It is not easy as all large short bets are investigated by the regulatory bodies.
- Not many traders are falling for Darkside’s offer for small gains and regulatory risks.
Extortion Techniques Used by Cybercriminals
This is not the only technique used by cybercriminals, here are a few of the other tricks up their sleeves.
- Clop ransomware gang a week ago pressurized its victims by emailing their customers demanding ransom payment for the protection of their privacy.
- REvil ransomware group called journalists or business partners to expose a victim’s breach. Additionally, they also tried to launch DDoS attacks against an organization’s IT infrastructure.
Currently, most organizations across the world have security measures in place. As a thumb rule, most of these organizations are known to deny paying up for the ransom. Eventually, cyber criminals end up trying to innovate, even though their tactics are new their chances are low. Yet it is good to remain cautious against any such attacks.