At the recent Techno Security and Forensics Investigations 2016 conference David Vargas a professor in the IIST program, presented on two topics: Ransomware and Cryptocurrencies
Ransomware: Is It Really Give Up and Pay Up?
Ransomware is a unique class of malware that encrypts victim data and demands payment in return for the data’s unscrambling. In late 2015, researchers spotted more than 70,000 ransomware incidents in just one week. It is so malicious and difficult to defeat that during the same time period, the FBI recommended that victims of ransomware simply pay up. This new class of malware has been spreading aggressively and represents a revolutionary new stage in cybercrime. In this presentation, attendees learned what ransomware is, why it is so effective, and why it will most likely dominate the threat landscape for several years to come. Attendees learned about ransomware’s gradual evolution from non-encrypting to encrypting versions. They also learned who is developing ransomware, how it is most commonly distributed, and why it is so difficult to defeat. The presentation ended by reviewing innovative solutions and best practices that can help security professionals investigate and mitigate this new cybercrime threat.
Cryptocurrencies: Understanding Their Continued Role in Cybercrime
Over time, the use of cryptocurrencies to facilitate cybercrime has, not only persisted, but has grown. When an innovative digital currency called Bitcoin first emerged several years ago, most people did not know what to think of it. This new cryptocurrency hoped to replace the traditional banking ecosystem. While some viewed it as the next generation of money, it also had characteristics that made it a perfect currency for illegal activity. As a result, cybercriminals were drawn to it with great enthusiasm. In this presentation, attendees were introduced to cryptocurrencies, with an emphasis on their current uses by cybercriminals. The presentation explained what cryptocurrencies are and how they differ from other forms of currency. By the end of the presentation, attendees were able to understand why cryptocurrencies play an important role in the continued expansion of cybercrime and why they, and cybercrime, may be inextricably linked for some time to come.
Interested in learning more?
Contact: David Vargas at: dvargas@gwu.edu