News Insights: A DDoS gang is extorting businesses posing as Russian government hackers | ZDNet

A DDoS gang is extorting businesses posing as Russian government hackers | ZDNet

Exclusive: Fake “Fancy Bear” group is demanding money from companies in the financial sector, threatening DDoS attacks.

A DDoS gang is extorting businesses posing as Russian government hackers | ZDNet

For the past week, a group of criminals has been launching DDoS attacks against companies in the financial sector and demanding ransom payments while posing as “Fancy Bear,” the infamous hacking group associated with the Russian government, known for hacking the White House in 2014 and the DNC in 2016.  In an interview with ZDNet, Daniel Smith, Radware ERT researcher, said attacks started last week and targeted the financial vertical.

 

Mounir Hahad, head of Juniper Threat Labs at Juniper Networks, observed:

 

“When a criminal gang masquerades as a more potent adversary, you can tell they do not have the skills or the firepower of a group who can actually cause damage. Most of the time, botnets for DDoS attacks are rented for a fee. The more fund you have, the more serious a threat you can pose, within some limits. I would encourage targets not to pay the ransom, as it will only finance the cyber gang for future operations and make you a known target that pays at the first threat.”