GandCrab Ransomware Explored

New ransomware accepts only DASH coins and uses .bit domains
05 February 2018   2263

New ransomware, that demans ransom in DASH, explored by MalwareBytes.

As experts say, the threat was revealed last week by cyber security specialist David Montenegro, after which a number of companies and independent researchers began to study the extortion virus.

Ransomware is distributed using a malicious advertising campaign that has the identifier Seamless. To end users, malicious software is delivered through the already existing and popular exploits RIG and GrandSoft.

A characteristic feature of GandCrab is that it accepts payment only in DASH. According to experts, this is due to the fact that malicious software operators are attracted by the high anonymity of this digital currency.

GandCrab
GandCrab

The screenshot above shows that at first GandCrab requires 1.5 DASH for unlocking files, and after expiration of several days the amount of redemption is doubled.

Another feature of neww encryptor is the use of the censorship-resistant .bit domains of the Namecoin project. Their main feature is that they do not depend on ICANN, the main governing body for domain names. Thus, the peer-to-peer network principle and the absence of an administrative center make it impossible to remove the name.

On several .bit domains there are control servers of malicious software. It is also interesting that domains are mockingly named "in honor of" the famous companies working in the field of cybersecurity. For example: bleepingcomputer [.] Bit, nomoreransom [.] Bit, esetnod32 [.] Bit, emsisoft [.] Bit, and so on.

At the moment, the experts have not yet created a tool to counter GandCrab, as well as to decipher the relevant information.

Dash Core Group to Lay Off 8% Staff Including Execs

Remaining employees of the Dash Core Group voluntarily refused wages and bonuses to support the existence of the organization
06 March 2019   146

The software developer of the privacy-oriented cryptocurrency network Dash, the Dash Core Group, was forced to make some difficult financial decisions. So, on March 7, the company fire 8% of the stuff, including the strategic director and director of business development. This is reported by The Block.

Note that the remaining employees of the Dash Core Group voluntarily refused wages and bonuses to support the existence of the organization.

According to CEO Ryan Taylor, cuts will affect only certain parts of the company in order to avoid complete collapse.

The organization’s leadership claims that more than six months ago, a moratorium was imposed on hiring new people, and the spending policy remains conservative.

It is worth adding that Dash is a fork of Litecoin, which appeared in 2014. The company did not conduct an ICO, and the only source of income is 10% of the mining, divided between the miners and masternodes. Thus, the bear market has quite significantly affected the stability of the organization.

Recall that in November 2018, the Dash Text service was launched in Venezuela, which allows you to send transactions via mobile phones using text messages. Then the event had a positive effect on the asset quotes.