New Wave of Ransomware from Russian-led Hackers

FILE PHOTO: A man holds a laptop computer as cyber code is projected on him in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel/Illustration/File Photo
FILE PHOTO: A man holds a laptop computer as cyber code is projected on him in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel/Illustration/File Photo
TT
20

New Wave of Ransomware from Russian-led Hackers

FILE PHOTO: A man holds a laptop computer as cyber code is projected on him in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel/Illustration/File Photo
FILE PHOTO: A man holds a laptop computer as cyber code is projected on him in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel/Illustration/File Photo

Russia-based hackers are stepping up ransomware attacks against major US firms seeking to cripple computer networks if their demands for millions of dollars are not met, security researchers are warning.

The cybersecurity firm Symantec on Thursday said it had identified at least 31 targets in the United States, including eight Fortune 500 companies.

"The attackers behind this threat appear to be skilled and experienced, capable of penetrating some of the most well protected corporations, stealing credentials, and moving with ease across their networks. As such, WastedLocker is a highly dangerous piece of ransomware," said the threat intelligence team of Broadcom-owned Symantec in its alert.

"At least 31 customer organizations have been attacked, meaning the total number of attacks may be much higher. The attackers had breached the networks of targeted organizations and were in the process of laying the groundwork for staging ransomware attacks," AFP quoted the team as saying.

Earlier in the week, a similar warning came from the British-based security firm NCC Group, which identified the ransomware strain dubbed WastedLocker as a new threat since May.

The researchers said those behind the attacks include two Russian nationals, Igor Olegovich Turashev and Maksim Viktorovich Yakubets, indicted in the United States in December for their involvement in an entity known as Evil Corp which is accused of hacking US and British banks.

NCC analyst Stefano Antenucci wrote that researchers can show "with high confidence" that the latest ransomware is from Evil Corp, which has been using the so-called Dridex malware since July 2014.

The US indictment alleges the group believed to be linked to Russian intelligence inserted malware on computers in dozens of countries to steal more than $100 million from companies and local authorities.

The indictment was accompanied by sanctions from the US Treasury on the two men, as well as the announcement of a $5 million reward toward Yakubets' arrest and conviction -- the highest reward ever offered for a cybercriminal.



Nvidia’s Market Value Tops $4 Trillion

Nvidia logo is seen in this illustration created on January 27, 2025. (Reuters)
Nvidia logo is seen in this illustration created on January 27, 2025. (Reuters)
TT
20

Nvidia’s Market Value Tops $4 Trillion

Nvidia logo is seen in this illustration created on January 27, 2025. (Reuters)
Nvidia logo is seen in this illustration created on January 27, 2025. (Reuters)

Nvidia's stock market value ended the trading session above $4 trillion for the first time on Thursday, solidifying the chipmaker's position as Wall Street's central player in a race to dominate AI technology.

Shares of Nvidia ended up 0.75% at $164.10, giving it a market value of $4.004 trillion and extending its lead over Apple and Microsoft as it benefits from a surge in demand for artificial-intelligence technologies.

Nvidia's stock market value briefly peaked above $4 trillion on Wednesday before closing at about $3.97 trillion. It is worth more than the combined value of all publicly listed companies in the UK.

Nvidia's high-end processors are at the center of a race between Microsoft, Amazon, Alphabet, Meta Platforms and other Wall Street heavyweights to build AI data centers and dominate the emerging technology.

Nvidia is also exposed to conflict between Washington and Beijing over trade, including restrictions on exports to China of its most powerful chips.

"Trade tensions and tariffs are a risk, as is competition. Greater AI adoption could shift part of the demand toward cheaper alternatives," Swissquote Bank senior analyst Ipek Ozkardeskaya wrote in a client note.

Nvidia achieved a $1 trillion market value for the first time in June 2023 and tripled it in about a year, faster than Apple and Microsoft, the only other US firms with market values above $3 trillion.

Microsoft is the second most valuable US company, with a market capitalization of $3.73 trillion. Its shares dipped 0.4% on Thursday.

Apple's stock has tumbled 15% so far in 2025, leaving its market value at $3.17 trillion, reflecting investor worries that the iPhone maker has been slow to introduce AI into its products and services.

Even after its meteoric rally, Nvidia's stock is valued at about 33 times expected earnings, below its five-year average of 41, according to LSEG.