NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma

Has the Latest DarkSide’s Ransomware Been the Result of a Miscalculated Risk?

NewsBTC
NewsBTC
3 years ago
4 mins read
darkside

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Over the course of this year, DarkSide, a group of Russian hackers got the attention of the U.S. Department of State.

In May 2021, DarkSide was responsible for a ransomware attack on Colonial Pipeline, extorting $5M for not leaking data they had on the Pipeline’s network. This is considered to be one of the major ransomware attacks on the U.S. infrastructure to this date.

What we know about the DarkSide is that they:

  • Operate as Ransomware as a service (Raas)
  • Get their ransom in Bitcoin
  • The U.S. Department of State issued an award of $10M for information that would lead to finding the group’s leaders.

What makes Raas service concerning? Will the use of Bitcoin lead to DarkSide’s downfall?

How come the U.S. Department of State got involved in this case?  

Let’s find out.

What makes ransomware as a service especially dangerous?

Ransomware as a service (Raas) is a strain of ransomware attacks that gives common people tools to conduct cyber attacks.

Similar to other types of ransomware, the perpetrator uses malware to obtain access to a victim’s network. Once they grant access to sensitive data – they demand ransom.

Raas works as software that’s dubbed affiliate – meaning users can buy it on underground forums and use it to create ransomware attacks.

What makes this dangerous?

You don’t have to be a hacker to extort companies with Raas. Anyone, even people with little to no skill can purchase an affiliate and target someone with a ransomware attack.

The Pipeline attack has been the result of ransomware as a service attack. Someone purchased the affiliate and used it to attack the Pipeline.

This could be a sign that DarkSide is losing control over its services. Or that they are getting the blame for the attack they aren’t responsible for. Namely, they claim that they aren’t political and their ransomware attacks are exclusively for monetary purposes. In the past, DarkSide claimed that they don’t target governments, hospitals, and non-profit organizations.

Why does the DarkSide group want Bitcoin for ransomware?

The DarkSide group trades their services exclusively for Bitcoin. Over the years, Bitcoin has become a default currency for illegal activities.

Many people associate the popularity of cryptocurrencies such as Bitcoin with payment for illicit activities of the dark web. It’s thought of as an untraceable and anonymous form of payment.

In reality, Bitcoin transactions are transparent. According to Bitcoin’s official site:

“All Bitcoin transactions are public, traceable, and permanently stored in the Bitcoin network.”

This already allowed the FBI to seize $2.3 million worth of cryptocurrency back from DarkGroup in June 2021.

It’s estimated that DarkSide already received $90 million worth of Bitcoin from its various victims (including the Pipeline).

Why is the reward issued by the U.S. Department of State so high?

As of November 2021, the U.S. Department of State stated that they offer $10 million for information that could identify the DarkSide leaders.

For the FBI, information is a currency more valuable than Bitcoin, but they reserve hefty rewards only for the major cases. The DarkSide group has been a part of several high-profile ransomware cases that occurred this year, but the FBI hasn’t gotten involved until the Pipeline attack. This ransomware attack got the attention of the U.S. Department of state because it targeted one of the critical energy infrastructures in the U.S.

If they hadn’t attacked the pipeline, it’s likely government wouldn’t be that focused on their activity. However, DarkSide group are Russian cybercriminals who target their rivals – meaning mostly wealthy USA companies. Besides the Pipeline, they also targeted Brenntag (a German chemical distribution company) and Toshiba Tec. Corp.

Russia doesn’t interfere with their activity because DarkSide doesn’t target Russian companies so as to avoid Russian law enforcement.

If the U.S. doesn’t use its resources to bring them to justice, it’s possible that no one else will.

Raas democratize cyber attacks

Ransomware attacks are dangerous and bring long-lasting harm to their targets – both their reputations and finances. That’s why victims usually get out their Bitcoin wallets and pay the demanded ransom.

Complying to hacker’s terms is a double-edged sword. Targets might regain access to their data and sweep the incident under the carpet. While paying the ransom, they also financially empower groups or criminals and give them resources to attack other businesses and organizations.

Raas attacks that fall in the wrong hands (if we can even claim that there are right people for being criminals) are especially dangerous because they democratize cyber attacks – giving anyone the means to demand ransom.

The heavy involvement of the U.S. Department of State in this case and traceability of Bitcoin transactions is likely to bring DarkSide activity to end and send a message to similar organizations that operate using Raas. But then again, only time will tell.

 

Image: Pixabay
Tweet123Share196ShareSend
NewsBTC
NewsBTC

NewsBTC

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

CSOP Mùa Thu 2025 – Chuỗi Sự Kiện Lớn Nhất Của CoinPoker

Diễn ra từ ngày 7 đến 29 tháng 9 năm 2025, CSOP Mùa Thu sẽ mang đến 23 ngày thi...

hhduy 1 week ago

5 Underrated Crypto Projects Bursting With Potential

There are tens of thousands of different cryptocurrencies in the world, and many of them are surely destined to fail....

NewsBTC 1 week ago
miner

5 Best Crypto Exchange in Indonesia for Trading and Investment

In the digital investment world, cryptocurrency exchanges play a crucial role in facilitating crypto asset transactions. In Indonesia, many exchanges...

PR Desk 1 week ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

MEXC Blocks $4.97M in Fraud and Recovers $902K in User Funds, New Report Reveals

Mark Hampton 4 days ago

Lava Network’s RPC engine sets the infrastructure stablecoins need to scale

NewsBTC 6 days ago
Mastercard

Mastercard Stresses Crypto Is An Enhancement, Not A Substitute

Christian Encila 6 days ago

Premium Sponsors

Press Releases

  • miner

    XRP Forecast: ALL4 Mining Launches Upgraded App to Ensure...

    46 minutes ago
  • První mine-to-earn meme coin PepeNode získal 900 000 $ v předprodeji – zbývá jen 7 hodin ve fázi financování

    První mine-to-earn meme coin PepeNode získal 900 000 $ v...

    4 hours ago
  • ドージコイン 今後の可能性:TradFiが注目する0.50ドルの壁とは

    ドージコイン...

    4 hours ago
  • Meme coinok visszatérnek a játékba: a Snorter Bot Token (SNORT) előértékesítése meghaladja a 3,8 millió dollárt

    Meme coinok visszatérnek a játékba: a Snorter Bot Token...

    4 hours ago
  • První mine-to-earn meme coin PepeNode získal 900 000 $ v předprodeji – zbývá jen 7 hodin ve fázi financování

    Prvi Mine-to-Earn meme coin PepeNode prikupio 900.000 $ u...

    4 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.