Singapore warns businesses of potential Bitcoin ransomware threat

Akira, a ransomware strain that has managed to pilfer $42 million from over 250 organizations in North America, Europe, and Australia within a year, has now set its sights on businesses in Singapore.
Authorities in Singapore have issued a collective warning to local businesses regarding the growing threat posed by a variant of the Akira ransomware.
The alert comes in response to reports from various agencies, including the Cyber Security Agency of Singapore, the Singapore Police Force, and the Personal Data Protection Commission, concerning multiple cyberattack victims.
Investigations by the United States Federal Bureau of Investigation have revealed that Akira ransomware mainly targets businesses and critical infrastructure entities.
To combat the threat of Akira attacks, Singaporean authorities have outlined methods to identify, prevent, and thwart such malicious activities. Businesses that have fallen prey to Akira are strongly advised against giving in to the demands of the attackers.
Akira’s operators typically demand ransom payments in cryptocurrencies like Bitcoin (BTC) in exchange for restoring access to compromised computer systems and sensitive data. However, authorities in Singapore have underscored the importance of not complying with such demands, as it may lead to further attacks.
In line with cybersecurity best practices, businesses are encouraged to implement robust recovery plans, use multifactor authentication, monitor network traffic, disable unnecessary ports and links, and employ system-wide encryption to mitigate the risks posed by ransomware attacks.
In related news, cybersecurity firm Kaspersky has uncovered a scheme by North Korean hackers to target South Korean cryptocurrency businesses using a malware known as Durian.
According to Kaspersky, Durian features a sophisticated backdoor functionality that allows for the execution of commands, file downloads, and data exfiltration. The firm also highlighted the use of LazyLoad by Andariel, a subgroup of the Lazarus Group, hinting at a potential link between Kimsuky and the notorious hacking consortium.
On a different note, a longevity expert predicts that artificial intelligence will pave the way for achieving biological immortality by the year 2030.