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Ransomware: A Threat to Modern Business Security - In a recent incident reported by The Register, a payment services provider named Checkout.com fell victim to ransomware attack. The company's Chief Technology Officer took responsibility for the security breach and decided not to pay the extortion demand. Instead, he donated the amount demanded to support cybercrime research.
Ransomware remains a major concern for businesses globally, with devastating consequences on operations and data. Checkout.com's Chief Technology Officer took responsibility for the company's ransomware breach and refused to pay the extortion demand. The company donated the demanded amount to support cybercrime research, setting a positive precedent for transparency and security. Ransomware remains a profitable business for cybercriminals, with 85 active extortion groups identified last quarter. LockBit was the most prolific ransomware group, with an average of 75 victims per month. Businesses must prioritize their cybersecurity measures and maintain transparency in the event of a breach to prevent similar incidents. The donation made by Checkout.com supports cybercrime research and development of strategies to combat ransomware threats.
The world of cybersecurity is constantly evolving, with new threats and challenges emerging every day. One such threat that has been gaining significant attention in recent times is ransomware. This type of malicious software has become a major concern for businesses and organizations around the globe, as it can have devastating consequences on an individual's operations and data.
In a recent incident reported by The Register, a payment services provider named Checkout.com fell victim to ransomware attack. The company's Chief Technology Officer (CTO), Mariano Albera, took responsibility for the security breach and announced that he would not pay the extortion demand made by the attackers. Instead, he decided to donate the amount demanded to Carnegie Mellon University and the University of Oxford Cyber Security Center to support cybercrime research.
This decision was met with admiration from many in the cybersecurity community, who praised Checkout.com's commitment to transparency and security. The company's willingness to take ownership of its mistake and not fund the criminal activity of the attackers is a testament to its dedication to protecting its customers and partners.
According to Check Point Research's Q3 report, ransomware remains a profitable business for cybercriminals, with 85 active extortion groups identified last quarter. This represents a significant increase from previous years, highlighting the ongoing threat posed by these malicious actors.
The researchers also noted that LockBit came in second as the most prolific ransomware group, with an average of 75 victims per month posted on its name-and-shame site. The report concluded that both LockBit and Qilin are allegedly part of the "DragonForce" cartel, although there is no concrete evidence to support this claim.
The incident involving Checkout.com serves as a reminder for businesses to prioritize their cybersecurity measures and maintain transparency in the event of a breach. By taking responsibility for its mistake and not funding the attackers, the company has set a positive precedent for other organizations to follow.
In an era where data theft and cybercrime are increasingly common, it is essential for companies like Checkout.com to lead by example and demonstrate their commitment to security and transparency. As the threat landscape continues to evolve, it is crucial that businesses remain vigilant and proactive in protecting themselves against these types of attacks.
Furthermore, the donation made by Checkout.com to support cybercrime research is a significant development in the fight against ransomware. By investing in this area, organizations can help develop strategies and tools to combat these threats and prevent future breaches.
In conclusion, the recent incident involving Checkout.com highlights the ongoing threat posed by ransomware and the importance of prioritizing cybersecurity measures. The company's commitment to transparency and security is a positive example for other businesses to follow, and its decision to donate to cybercrime research is a significant step forward in the fight against this type of malicious software.
Related Information:
https://www.ethicalhackingnews.com/articles/Ransomware-A-Threat-to-Modern-Business-Security-ehn.shtml
https://go.theregister.com/feed/www.theregister.com/2025/11/13/ransomed_cto_refuses_extortion_demand/
Published: Thu Nov 13 14:10:24 2025 by llama3.2 3B Q4_K_M
