2018 Global Report: Cryptocurrency’s Role In Cyber Attacks

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As ransomware continues to place added pressure on CISOs and the remaining enterprise security staffers, cryptocurrency payments appear to be the transaction method of choice. But the question remains: Do enterprises of all sizes – SMBs, large enterprise – hoard bitcoins so that their response time is minimal if they’re struck with a service-denying, data-stealing ransomware incident?

If organizations are not stockpiling Bitcoin or other cryptocurrencies to have at the ready in case they’re struck in a debilitating hack/breach, what are their other options? Do they negotiate with the malicious actors for different terms? Do they consult with a third-party incident response/forensics firm to conduct the correspondence and transaction(s)?

We have brought together four industry experts to provide an in-depth overview and analysis of burgeoning ransomware threats. Each has led various initiatives in the cyber and crypto spaces, and now they are imparting that wisdom to Cyber Security Hub’s readers. This report offers contributions from: Joseph Steinberg, a recognized cyber security thought leader and emerging technology influencer; Jim Mapes, former CISO for Trapp Technology and Founding Partner, Cyber Security Principal, IoT HomeLab; Thomas Pace, Senior Director, Worldwide Consulting, Cylance; and Robin Verderosa, Vice President of Product Marketing, BitGo. In this report, we cover:

• Ransomware & Cryptocurrency: How Two Intertwined Ecosystems Grow Together

• ‘Crypto-Haze’: Enterprise Policy Around Digital Currency Security

• Holistic Costs Associated With A Ransomware Attack

• Building A Better, More Secure Infrastructure To Invest In Digital Assets