Iranian Hackers Developing Ransomware to Secure Bitcoin

As the time gets closer for the US to implement sanctions on Iran, hackers there are developing ransomware for bitcoin, says cybersecurity experts.

In the past two years, Accenture PLC’s cybersecurity intelligence group has monitored five Iranian developed ransomware variations. The hackers expects to secure payments in cryptocurrencies, claims Jim Guinn, who runs the industrial cybersecurity business at Accenture.

Various clues connect the ransomware to Iran. Samples include messages in Farsi that are linked to Iran based computers.

A latest report released by Accenture states that the ransomware could be supported by Iranian government affiliated parties, criminals or both.

For years now, ransomware has troubled both businesses and governments, having disabled payment systems at the San Francisco Municipal Transportation Agency, U.K hospitals and cargo shipments.

One type of ransomware called iDefense have been found to be connected to Iran’s government; this according to CrowdStrike Inc., a cybersecurity firm. The software, known as Tyrant, was created to stop Iranian citizens from downloading software developed to discourage government interference.

Palo Alto Networks Inc. and Symantec Corp. released reports in July that described a couple of data stealing operations linked to Iran.

Crypto mining software which takes away the processing power of computers to mine cryptocurrency has also been connected to Iran.

Accenture mentioned crypto mining software developed on Middle Eastern customer networks equipped with digital clues to Iran.

Crypto mining software has resulted to several issues in gas and oil facilities in the Middle East according to Guinn.

Iran has denied partaking in cyber-attacks and being involved in hacking victims.


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