Tally of Cyber Extortion Attacks on Tech Companies Grows

Posted in: Legal & Security at 21/06/2014 19:44

Tech start-ups continue to get hit by extortion attempts from cybercriminals who aim to shut down their systems until companies pay their ransom.

For several months, the Federal Bureau of Investigation has been investigating a wave of so-called denial-of-service, or DDoS attacks, against web start-ups. In each case, attackers knock their victims offline using a flood of traffic and refuse to stop until victims pay their ransom in Bitcoins.

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Cybercriminals Zero In on a Lucrative New Target: Hedge Funds
They say crime follows opportunity. Computer security experts say hedge funds, with their vast pools of money and opaque nature, have become perfect targets for sophisticated cybercriminals. Over the past two years, experts say, hedge funds have fallen victim to targeted attacks. What makes them such ripe targets is that even as hedge funds expend millions in moving their trading operations online, they have not made the same investment in security.

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