Money

Russian ‘REvil gang’ hackers demands $70M Bitcoin ransom payout

Published

4 years ago

July 5, 2021

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.

John Hammond from Huntress Labs Inc sent this screenshot of the blog post in a direct Twitter message to Ticker reporters.

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.

REvil has shared an update on their personal dark web site. Their asking price to decrypt ALL victims is $70,000,000 USD. pic.twitter.com/e5WDWxDE53
— John Hammond (@_johnhammond) July 5, 2021

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.”

Based on a combination of the service providers reaching out to us for assistance along with the comments we're seeing in this thread, it's reasonable to think this could potentially be impacting thousands of small businesses.
— John Hammond (@_johnhammond) July 3, 2021

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.

U.S President signs executive order after cyber attack

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Natasha Schapova

Natasha is an Associate Producer at ticker NEWS with a Bachelor of arts from Monash University. She has previously worked at Sky News Australia and Monash University as an Online Content Producer.

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Money

RBA unexpectedly keeps interest rates steady at 3.85%

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

Published

19 hours ago

July 8, 2025

Ahron Young

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

In Short:
The Reserve Bank of Australia has kept its cash rate at 3.85% despite concerns from the Housing Industry Association about its impact on new home construction. Although inflation is within target and there’s some market confidence, households are under financial strain amidst economic uncertainties.

The Reserve Bank of Australia has decided to maintain the cash rate at 3.85% following a split vote of six to three. This unexpected decision comes as the Housing Industry Association warns that these rates remain restrictive, potentially hindering new home building.

Senior economist Tom Devitt stated that the rates will delay necessary building activity but noted improved market confidence following previous rate cuts.

Current inflation data shows the RBA’s preferred measure has been declining and remains within the target range. However, household spending is under strain, with Australia experiencing a per capita recession since mid-2022.

Labour costs

The RBA’s decision was influenced by concerns over productivity growth and high unit labour costs, affecting its inflation outlook. While some economists anticipated a rate cut, the RBA opted for caution due to economic uncertainties, both domestically and internationally.

The bank acknowledged gradual recovery in private demand and household incomes but highlighted ongoing challenges in passing cost increases to final prices.

Despite the hold on rates, price rises in essentials like petrol continue to impact Australian households. The RBA emphasized the need for ongoing assessment before making future rate changes, suggesting a careful approach in response to evolving economic conditions.

Money

Feeling the stress this tax season?

Join Dr. Steve Enticott for essential tax tips to avoid costly mistakes this season and maximize deductions for 2025.

Published

24 hours ago

July 8, 2025

ticker NEWS

Join Dr. Steve Enticott for essential tax tips to avoid costly mistakes this season and maximise deductions for 2025.

It’s that time of year again, and if you’re feeling overwhelmed, you’re not alone.

With so many moving parts, from missed deductions to misplaced receipts, small mistakes can lead to big losses.

Dr Steve Enticott from CIA Tax joins to break down what people forget most, which new deductions to know for 2025, and why a simple checklist can save you money.

#TaxTime #MoneyTips #2025Tax #TaxReturn #TickerNews

Money

Trump’s ‘big beautiful bill’ passes Senate

Trump’s tax and spending bill passes Senate 51-50; faces House vote amid concerns over inequality and support cuts.

Published

7 days ago

July 2, 2025

ticker NEWS

Trump’s tax and spending bill passes Senate 51-50; faces House vote amid concerns over inequality and support cuts.

President Trump’s sweeping tax and spending bill has narrowly passed the U.S. Senate 51-50, with Vice-President JD Vance breaking the tie.

The bill promises big tax breaks, military boosts, and immigration crackdowns, while slashing support for Medicaid and low-income aid, a move critics say risks deepening inequality.

All eyes now turn to the House vote, where Trump’s political clout will face a fresh test.

#Trump #BigBeautifulBill #USPolitics #TickerNews