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Ryuk Ransomware Meaning

Ryuk is a highly sophisticated and destructive strain of ransomware that specifically targets large organizations, including hospitals, government agencies, and tech firms. First discovered in 2018, it is known for Big Game Hunting-choosing targets that are more likely to pay large ransoms (often millions of dollars in Bitcoin) to restore their critical operations.Unlike Spray and Pray ransomware that hits random individuals, Ryuk is typically the final stage of a multi-week human-operated attack.

An attacker first gains access to the network (often via TrickBot or Emotet malware), spends weeks performing internal reconnaissance to find the most sensitive data and backups, and then manually deploys the Ryuk encryption. This ensures that the organization’s ability to recover without the key is completely destroyed, maximizing the pressure to pay.The ransom is almost exclusively demanded in Bitcoin because of its global liquidity and perceived anonymity.

However, the transparent nature of the Bitcoin ledger has allowed companies like Chainalysis to track Ryuk’s Cash Out paths to specific exchanges, leading to the identification and sanctioning of the associated laundering networks.

Ryuk’s legacy has forced the fintech and cybersecurity industries to develop much more robust Immutable Backups and Zero Trust architectures to prevent the initial intrusion.

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Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

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