Content by Doug Olenick

How the Hydra Darknet Market Broke the $1 Billion Barrier

Doug Olenick  •  May 26, 2021

The Hydra darknet marketplace, which initially focused on narcotics sales, now also offers stolen credit cards, SIM cards, VPN access and cryptocurrency laundering services, with annual sales exceeding $1 billion, according to a new research report, which explains the market's tactics.

Iran Devises Way to Convert Oil to Bitcoin

Doug Olenick  •  May 25, 2021

Iran is using its abundance of oil to generate electricity that powers a massive bitcoin cryptomining operation that enables the country to turn its greatest natural resource into money, offsetting some of its income lost as a result of economic sanctions, according to cryptocurrency analysis firm Elliptic.

Should Paying Ransoms to Attackers Be Banned?

Doug Olenick  •  May 24, 2021

Insurance company CNA's apparent decision to pay attackers a $40 million ransom and Colonial Pipeline Co.'s payment of a $4.4 million ransom are stirring debate over whether such payments should be banned under federal law.

Solarium Commission's Recommendations: The Top Priorities

Doug Olenick  •  May 20, 2021

In a session at RSA Conference 2021, three cybersecurity experts said top priorities among the U.S. Cyberspace Solarium Commission's recommendations that have not yet been carried out are adopting a federal data breach notification law and improving public-private partnerships.

Colonial Pipeline CEO Confirms $4.4 Million Ransom Payment

Doug Olenick  •  May 19, 2021

Colonial Pipeline Co.'s CEO, Joseph Blount, said Wednesday that he authorized the payment of a $4.4 million ransom just hours after the company was hit by a DarkSide ransomware attack, telling The Wall Street Journal, "It was the right thing to do for the country."

Tracking DarkSide Ransomware Gang's Profits

Doug Olenick  •  May 18, 2021

The DarkSide ransomware gang apparently collected over $90 million in ransom payments from about 47 victims, including Colonial Pipeline Co., since the gang began operating in August 2020, according to the blockchain analytics firm Elliptic, which says it analyzed bitcoin wallet activity.

DarkSide Ransomware Gang Says It Has Shut Down

Doug Olenick  •  May 14, 2021

The gang behind DarkSide ransomware, which U.S. authorities say was used in the attack against Colonial Pipeline Co., says it's closed its ransomware-as-a-service operation after losing access to part of its infrastructure.

Paying a Ransom: Does It Really Encourage More Attacks?

Doug Olenick  •  May 14, 2021

Some cybersecurity experts question the contentions of Speaker of the House Nancy Pelosi and another member of Congress, who say a $5 million ransom reportedly paid by Colonial Pipeline Co. after being hit by DarkSide ransomware would serve as a catalyst for attacks on other critical infrastructure providers.

Biden: Russian Government Not Behind Colonial Pipeline Attack

Doug Olenick  •  May 13, 2021

President Joe Biden says the Russian government was not behind the ransomware attack that struck Colonial Pipeline Co. May 7, but he said attackers living in Russia were involved.

Biden Signs Sweeping Executive Order on Cybersecurity

Doug Olenick  •  May 12, 2021

President Joe Biden signed an extensive executive order Wednesday that describes the government's plan to increase cybersecurity protection across the public and private sectors as well as secure the nation's infrastructure against the type of attack that targeted SolarWinds and its customers.

Microsoft Patches 4 More Exchange Flaws

Doug Olenick  •  May 12, 2021

Microsoft issued patches Tuesday for four more vulnerabilities in on-premises versions of the Exchange Server corporate email platform, one of which is a zero-day flaw.

FBI: DarkSide Ransomware Used in Colonial Pipeline Attack

Scott Ferguson , Doug Olenick  •  May 10, 2021

The FBI and White House confirmed Monday that the DarkSide ransomware variant was used in the Friday attack that caused disruptions at Colonial Pipeline Co., which operates a pipeline that supplies fuel throughout the eastern U.S. But the gang behind the ransomware tried to shift the blame to an affiliate.

Accenture, Forcepoint, Others Make Acquisitions

Doug Olenick  •  May 9, 2021

Merger and acquisition activity involving cybersecurity companies continued at a rapid pace in the last two weeks, with Accenture, Forcepoint, OneTrust and the Swedish IT consultancy firm Knowit AB all making acquisitions.

US and UK Issue Joint Alert on Russian Cyber Activity

Doug Olenick  •  May 8, 2021

U.S. and U.K. cybersecurity, law enforcement and intelligence agencies issued a joint advisory Friday offering detailed information on how to defend against the activities of the Russian Foreign Intelligence Service, or SVR, in the wake of the 2020 SolarWinds supply chain attack.

CISA Alert Describes FiveHands Ransomware Threat

Doug Olenick  •  May 7, 2021

The Cybersecurity and Infrastructure Security Agency has issued an alert providing more details on the threat posed by FiveHands ransomware attacks and offering risk mitigation tips.