‘Ransomware Year’ May Be The Most Devastating Ever

In recent months, cyberattacks have been launched against Canada’s largest children’s hospital and a large-scale liquor board. It may be just the beginning of a year filled with major cyber and ransomware attacks on these private institutions. The reason behind this trend is that due to sanctions against Russia and the declining crypto markets, hackers have become more aggressive. In late December, Toronto’s Hospital for Sick Children was the victim of a ransomware attack that caused delays in lab results and the system to go down. 

It was reported in January that the Liquor Control Board of Ontario had been compromised by a piece of malicious code. This code was used by hackers to steal the data of Ontario customers. As David Shipley from Beauceron Security, a cybersecurity company, explained, many payments in the world of cybercrime are being facilitated through bitcoin and other cryptocurrencies. These currencies are used as payment instruments in the world of cybercrime. 

Throughout the past year, many crypto assets have experienced significant losses. Several of those losses were recovered through ransom attacks perpetrated by hackers as part of the effort. 

Their business model is that they make hundreds of millions, and perhaps billions of dollars, mainly through bitcoin. This is due to ransoms, which they facilitate mainly through bitcoin, Shipley explained. They have lost a

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