Money
Russian ‘REvil gang’ hackers demands $70M Bitcoin ransom payout
The group behind the recent Kaseya cyber attack is asking for a $70M ransom in Bitcoin for a ‘universal decryptor’ key
The Russian hacking group REvil has published a blog post on the dark web taking credit for the audacious cyber attack on MSP providers in the US which they claim affected over a million systems.
They also called on ‘anyone willing to negotiate’ for a ‘universal decryptor’, offering to list the key publicly if someone pays the ransom.
“Everyone will be able to recover from the attack in less than an hour,” the post read.
Will the companies pay the ransom?
The general advice from cyber-security experts is to not pay hackers to retrieve their data, because it encourages future attacks.
However, John Hammond from Huntress Labs doesn’t believe the situation is so simple. The cybersecurity firm Huntress Labs Inc is leading the investigation into the attack.
“This is an extremely intricate and tough situation,” he said in a private Twitter message to Ticker reporters.
“You have to make the decision that is best for your business,” he said.
The Kaseya cyber attack
The attack targeted more than 20 managed service providers (MSP). Yesterday, Huntress Labs anticipated the hack had affected more than 1000 businesses, which expectations that the figure would grow based on reports from the providers and a Reddit thread tracking the hack.
“It’s reasonable to think this could potentially be impacting thousands of small businesses,” tweeted John Hammond from Huntress Labs. Hammond says the attack targeted a software supplier called Kaseya.
Biden has sinced called for US intelligence to conduct a “deep dive” into the attacks. “We’re not sure it’s the Russians,” he said. “The initial thinking was, it was not the Russian government, but we’re not sure yet.”
Sweden closes up shop
Another victim of the attack is Sweden, which has seen around 500 supermarkets unable to trade.
Coop Sweden has closed half of its 800 stores after its point-of-sale tills and self-service checkouts stopped working just before the weekend.
The supermarket itself was not targeted by hackers. However, because it uses on of the affected MSPs it too has fallen victim to the attack.
Cybersecurity becomes and international security issue
This comes as the latest in a string of ransomware attacks in recent months, including the attack on JBS. Experts have also attributed the JBS attack to the REvil cyber gang.
It also comes shortly after President Joe Biden signed an executive order to strengthen cybersecurity defences across the US.
Money
Commodities surge as oil volatility and metals hit record highs
Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.
Oil prices fluctuate due to geopolitical tensions; precious metals soar amid inflation concerns, sparking a commodities rally.
Global commodities are on the move, with oil prices swinging sharply as geopolitical tensions involving Iran fuel uncertainty across energy markets. Traders are closely watching supply risks and political flashpoints, driving short-term volatility.
Precious metals are stealing the spotlight, pushing to record highs as investors seek safety amid inflation concerns, interest-rate uncertainty and rising global risk. At the same time, industrial metals are surging, supported by demand expectations and tightening supply.
To unpack what this means for markets and investors, we’re joined by Kyle Rodda from Capital.com to break down the key drivers behind this powerful commodities rally.
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#Commodities #OilPrices #Gold #Metals #MarketVolatility #Geopolitics #Investing #TickerNews
Money
Stocks slide and Trump cancels talks: What’s next for markets and Greenland?
U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.
U.S. stocks dip; S&P 500 down 0.9%, as investors react to weak bank earnings and market volatility.
U.S. stocks fell for a second day on Wednesday, with the S&P 500 dropping 0.9% and the Dow Jones losing 164 points. Investors are reassessing record-high levels as major banks report weaker-than-expected earnings.
Wells Fargo shares tumbled more than 5% after disappointing revenue results, while Bank of America is down roughly 7% week to date. Citigroup and Wells Fargo have both seen declines of about 8%, highlighting volatility in the banking sector.
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#StockMarket #SP500 #DowJones #BankEarnings #TrumpNews #Iran #Greenland #Geopolitics
Money
U.S. budget deficit falls to $1.67 trillion
US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.
US budget deficit falls to $1.67 trillion amid tariffs; implications of corporate taxes and Supreme Court rulings discussed.
The US budget deficit has dropped to $1.67 trillion in 2025, the lowest in three years, driven by record customs revenue from President Donald Trump’s tariffs. While this marks a positive shift for the economy, challenges loom with potential Supreme Court rulings on tariffs and falling corporate tax receipts.
David Scutt from StoneX explains the key factors behind the decline in the deficit and what December’s figures reveal about the overall fiscal health of the US.
We also explore the potential implications of upcoming Supreme Court decisions and how the One Big Beautiful Bill Act could impact future deficits. Stay informed on what these changes mean for the economy and markets.
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#USBudget #DeficitUpdate #TrumpTariffs #FiscalPolicy #Economy2025 #SupremeCourtImpact #CorporateTaxes #FinancialNews
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