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Ransomware Ecosystem: How Hackers Cash Out Bitcoins

Research at Google presented a study on the ransomware ecosystem recently. The research talks about a variety of popular topics such as the flow of ransom payments from a victim to a hacker and also ways to exchange bitcoins, either by purchasing them or cashing them out. The study also uses graphs to show annual incomes of Locky, Cerber and WannaCry malwares, and the rise of Ransomware as a service, where anyone can become a hacker.

Main points:

  • Tracing cash outs of ransom payments.

Tracing payments through the bitcoin chain

  • Ransomware is a multi-million dollar business in a fast changing market.

Ransomware market revenue

  • Locky is the oldest and most profitable malware with $1M+ in monthly revenue.

Ransomware ecosystem
Locky annual revenue

  • Share of transactions in bitcoin exchanges

Bitcoin exchanges

  • The most commonly used cash out bitcoin exchange is BTC-e.

Ransom payments cash out

You can see the full study here:

Dmitry Dmitry Dontov CEO and Founder
About Author

Dmitry Dontov is the CEO and Founder at Spin.AI. He is a tech entrepreneur and cybersecurity expert with over 20 years of experience in cybersecurity and team management. He also has a strong engineering background in cybersecurity and cloud data protection, making him an expert in SaaS data security.
He is the author of 2 patents and a member of Forbes Business Council.
Dmitry was Named 2023 Winner in the BIG Award for Business and Small Business Executive of the Year.

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