BTC-e was used to cash 95% of ransomware payments

Researchers from Google, Chainalysis, California, San Diego and New York Universities came to this conclusion
28 July 2017   2922

Distributed database that is used to maintain a continuously growing list of records, called blocks

New details about "well-known" exchange. The BTC-e is responsible for cashing 95% of the proceeds of the bitcoin-extortioners since 2014. This is stated in the report, which was presented at the conference on computer security Black Hat USA 2017, and reported by the BleepingComputer.

The study involved Google, Chainalysis, as well as specialists from universities in California, San Diego and New York.

During the project called "Tracking Ransomware End to End" 34 families of viruses were analyzed. From a huge set of executable files, the research project was able to create an overall picture illustrating the amount of payments related to the extortion programs carried out over the past three and a half years.

Revenue per monthly
Revenue per monthly

Researchers note that 2016 was the most profitable year for ransomware, during which the monthly volume of pay-off payments reached $ 2 million or more. The largest increase in the incomes of extortionists also coincides with the periods of distribution of the programs of the Locky family and Cerber. So, crypto-hijacker Locky collected about $ 7.8 million, while Cerber - $ 6.9 million, and Cryptolocker - $ 2 million.

Ransomware Ecosystem
Ransomware Ecosystem


Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

Researchers agreed that the end point of 95% of all payments was the BTC-e exchange. Criminals used it to convert Bitcoins into fiat money.

The alleged co-owner of BTC-e Alexander Vinnik was detained in Greece recently.

Worth reminding that Financial Crimes Enforcement Network  has imposed a $ 110 million penalty on the BTC-e crypto exchange for "deliberately violating US anti-money laundering laws (AML)." In addition, Alexander Vinnik is named the main suspect in the case of MtGox.

Samsung to Invest $2.9M in Ledger

The fact of a round of investments was confirmed by a spokesman for Ledger, but he did not disclose details
25 April 2019   39

The developer of hardware wallets Ledger attracted 2.6 million euros ($ 2.9 million) from the South Korean conglomerate Samsung. The company's investment valuation reached $ 290 million, according to the French edition of Capital.

Thus, the very fact of a round of investments was confirmed by a spokesman for Ledger, but he did not disclose details. Co-founder Eric Larchevêque, who had recently transfered power to the new CEO Pascal Gauthier, also did not shed light on the details of the transaction.

Larchevêque himself will focus on the company's strategy, cooperation with regulators and legal compliance as the executive chairman.

Ledger raised $ 7 million in a round of financing for Series A in early 2017, which was headed by MAIF Avenir, a division of large French insurance company with the support of Xange, Wicklow Capital, GDTRE, Libertus Capital, Digital Currency Group, The Whittemore Collection, Kima Ventures, BHB Network and Nicolas Pinto as an individual investor.

At the beginning of 2018, a round of financing for Series B took place, within which the hardware wallets maker raised $ 75 million. The round was led by Draper Esprit, the other participants were Draper Venture Network, FirstMark Capital, Cathay Innovation and Korelya Capital.