Ransomware as a Service is Bringing In Some Serious Money

Ransomware is now becoming standardized to create a lucrative business model, ransomware as a service for amateur hackers.

Ransomware as a Service

Developers of the crypto-ransomware tool, Cerber, have set up a RaaS (Ransomware as a Service) platform for amateur threat actors that could end up bringing in some big money by distributing their tool to a network of affiliates. The business technique could end up netting nearly $2 million.

Security vendor Check Point Software Technologies has gathered data on the ransomware tool and determined that in July alone Cerber-affiliates have extorted $195,000 from victims.

According to the same source, the attacks are multinational with a significant amount of them occurring in South Korea, United States, China, and Taiwan. Additionally, a total of 161 affiliates used Cerber to infect about 150,000 computers during that period.

Check Point released a statement about the ransomware racket and the average rate the attackers have demanded from victims to decrypt their files, around 1 Bitcoin or $590 at the time the statement was made.

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