The history of technology is riddled with unintended consequences. As William Gibson wrote in Burning Chrome, "...the street finds its own uses for things." Though Bitcoin may not have been originally conceived as a medium for ransom payments, it's quickly become a central tool for online criminals.
Ransomware, a category of "malware," blocks access to a computer or darkmarket link network until a ransom is paid. Despite the evolving efforts of governments to regulate cryptocurrency and mitigate its role in ransomware payments, the attacks keep coming.
Cryptocurrency ransomware payments totaled roughly $350 million in 2020, according to Chainanalysis -- an annual increase of over 300% from 2019. And because US companies are legally required to report cyberattacks only if customers' personal information is compromised, that estimate may be far too conservative.
Read more: The history of hacking ransoms and cryptocurrency
Below, we tally up the damage of some of the highest-profile episodes.
Kaseya (2021)
On July 2, 2021, Kaseya announced its systems had been infiltrated. Kaseya provides IT solutions for other companies -- an ideal target which, dark web market list in a domino effect, dark market 2024 web marketplaces ended up impacting approximately 1,500 organizations in multiple countries. REvil, a cybercriminal outfit, claimed responsibility for the attack and demanded ransoms ranging from a few thousand darknet market site dollars to multiple millions, according to a Reuters report.
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