{"id":45945,"date":"2015-10-29T09:03:10","date_gmt":"2015-10-29T16:03:10","guid":{"rendered":"https:\/\/blogs.mcafee.com\/?p=45945"},"modified":"2025-06-04T02:14:03","modified_gmt":"2025-06-04T09:14:03","slug":"ransomware-insight-financial-gain","status":"publish","type":"post","link":"https:\/\/www.mcafee.com\/blogs\/other-blogs\/mcafee-labs\/ransomware-insight-financial-gain\/","title":{"rendered":"Ransomware: an Insight to Financial Gain"},"content":{"rendered":"<p>This week, joint research on the CryptoWall Version 3 family was released by the <a href=\"http:\/\/cyberthreatalliance.org\/\">Cyber Threat Alliance<\/a>. In <em>Lucrative Ransomware Attacks: Analysis of the CryptoWall Version 3 Threat,<\/em>\u00a0McAfee along with the other member of the CTA, researched the elements in the CryptoWall lifecycle, represented in the following graphic:<\/p>\n<p><a href=\"https:\/\/securingtomorrow.mcafee.com\/wp-content\/uploads\/CW3-lifecycle.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-45949\" src=\"https:\/\/securingtomorrow.mcafee.com\/wp-content\/uploads\/CW3-lifecycle-300x146.png\" alt=\"CW3 lifecycle\" width=\"300\" height=\"146\" srcset=\"https:\/\/www.mcafee.com\/blogs\/wp-content\/uploads\/CW3-lifecycle-300x146.png 300w, https:\/\/www.mcafee.com\/blogs\/wp-content\/uploads\/CW3-lifecycle-1024x497.png 1024w, https:\/\/www.mcafee.com\/blogs\/wp-content\/uploads\/CW3-lifecycle.png 1820w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Source: Cyber Threat Alliance, <em>Lucrative Ransomware Attacks: Analysis of the CryptoWall Version 3 Threat.<\/em><\/p>\n<h2>CryptoWall Ransomware<\/h2>\n<p>In this blog, we want to focus on the financial infrastructure behind the campaigns that were distributing the CryptoWall ransomware.<\/p>\n<p>During our investigation, we researched thousands of samples. Some were taken apart manually for in-depth analysis. Others were automatically replicated. Based on the output, we gathered all this information into one big set of data. The data was then correlated and analyzed to understand the shared infrastructure, including the Bitcoin wallets used to collect ransom payments.<\/p>\n<p>A correlation example follows. This illustrates the first step in a Bitcoin transaction.<\/p>\n<p><a href=\"https:\/\/securingtomorrow.mcafee.com\/wp-content\/uploads\/CW3-bitcoin-path.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-45948\" src=\"https:\/\/securingtomorrow.mcafee.com\/wp-content\/uploads\/CW3-bitcoin-path-300x119.jpg\" alt=\"CW3 bitcoin path\" width=\"300\" height=\"119\" srcset=\"https:\/\/www.mcafee.com\/blogs\/wp-content\/uploads\/CW3-bitcoin-path-300x119.jpg 300w, https:\/\/www.mcafee.com\/blogs\/wp-content\/uploads\/CW3-bitcoin-path.jpg 937w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>We identified the first wallets used in all the studied CryptoWall campaigns and then followed the money to other Bitcoin wallets. After victims make ransom payments, these payments are quickly transferred to different Bitcoin wallets, and from those Bitcoin wallets to others. Sometimes these transfers occur multiple times per day.<\/p>\n<p>During our investigation, we looked into thousands of transactions. Eventually, we hit a \u201cmaster wallet.\u201d This wallet contains a huge amount of Bitcoins funneled from thousands of transactions.<\/p>\n<p>Although CryptoWall campaigns began in February 2015, the master wallet was established in April 2014.\u00a0 We don\u2019t know the source of transactions prior to February, but we did analyze those that occurred after CryptoWall became active in February. We calculated the value of all transactions using an average dollar value of the Bitcoins, resulting in an estimated $325 million in ransom payments due to CryptoWall during the two-month period of our study.<\/p>\n<p>In the report, we also discussed the Angler exploit kit as part of the delivery mechanism for this ransomware family. In October 2015, threat researchers from Cisco\u2019s Talos group released a report detailing how they disrupted the group behind Angler. In that report, the Talos group reported annual revenue of $60 million from ransomware. After verifying with the Talos team, they mentioned that in a certain month, all of Angler\u2019s proxy servers except one were serving the CryptoWall ransomware. In order to have access to the Angler exploit kit, the CryptoWall attackers had to pay a certain amount of money. With the ransom payments generated by CryptoWall, the attackers could easily afford the cost of Angler.<\/p>\n<p>The revenue generated by CryptoWall and similar ransomware campaigns will attract more cybercriminals to participate in similar ransomware campaigns, participate in affiliate programs, or start developing new services as \u201cransomware-as-a-service.\u201d Given these factors, we predicted a rise in this type of attack. However, the rapid exchange of indicators among security partners, as we have begun to do through the Cyber Threat Alliance, will assist in stopping these threats until technology is developed that can stop ransomware on the endpoint.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, joint research on the CryptoWall Version 3 family was released by the Cyber Threat Alliance. In Lucrative Ransomware&#8230;<\/p>\n","protected":false},"author":653,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[442],"tags":[1814,76,180],"coauthors":[3576],"class_list":["post-45945","post","type-post","status-publish","format-standard","hentry","category-mcafee-labs","tag-computer-security","tag-cybercrime","tag-malware"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ransomware: an Insight to Financial Gain | McAfee Blog<\/title>\n<meta name=\"description\" content=\"The Cyber Threat Alliance examines the financial gains of a popular malware in &quot;Lucrative Ransomware Attacks: Analysis of the CryptoWall Version 3 Threat.&quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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He is leading the strategic threat intelligence research with a focus on inventing new technology, research techniques and models. Visionary and serving leadership is at the core of his day-to-day job, getting the best out of people and collaborate to make the (cyber) world safer and a better place. In previous roles, Beek was Director of Threat Intelligence in McAfee Labs and Director of Incident Response and Forensics at Foundstone, McAfee\u2019s forensic services arm. At Foundstone, he led a team of forensic specialists in Europe, the Middle East, and Africa during major breaches. Beek develops threat intelligence strategy, designs and envision threat intelligence systems and new research techniques. Christiaan speaks regularly at conferences, including BlackHat, RSA, BlueHat and Botconf. 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