"Hackers with a history of working for the PRC Ministry of State Security (MSS) have engaged in ransomware attacks, cyber enabled extortion, crypto-jacking, and rank theft from victims around the world, all for financial gain," a White House press release said.
Blockchain analytics firm Elliptic tracks a small business being contacted by REvil ransomware attackers demanding $50,000 in crypto for a decryption tool.
It’s part of the White House’s new anti-ransomware push.
The San Francisco intelligence firm has seen revenues surge as blockchain analysis goes mainstream.
The Eastern European-based hackers have made a practice of collecting their payments in bitcoin.
The attack on the world's largest meat producer bore similarities to one on Colonial Pipeline two weeks earlier.
Jake Sullivan said the "cryptocurrency challenge ... lies at the core" of ransomware attacks.
The CEO will face the Senate Homeland Security Committee to explain the reasoning behind his decision to pay a $4.4M bitcoin ransom.
Colonial paid $4.4 million in bitcoin after its systems fell victim to a ransomware attack last month.
The "Trickbot Group" told victims that they would need to purchase special software through a Bitcoin address to decrypt their files.