Episode 7 of Public Key, the Chainalysis podcast, is here! In this episode, we’ll be peeling off the layers of the most complex ransomware supply chains.

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Public Key Episode 7 preview: Compromised credentials, ransomware reality TV drama and impact of hydra market shutdown

Whether it be zero day exploits, compromised and sold credentials and malware delivered via suspicious office documents or links, this episode covers the nuances of ransomware and the organizational structure, supply chain and recovery options of some of the biggest exploits in the news. 

In this episode of Public Key, our host, Ian Andrews (CMO at Chainalysis) and his colleague Brian Carter (Senior Cybercrimes Specialist) describe the ransomware ecosystem, the vulnerabilities that are exploited and some of the biggest illicit threat actors driving these underworld enterprises. Brian gives us an inside look at the organizational structure and financial instability of the ransomware market, while giving practical advice for those that may fall victim to ransomware attacks. 

Quote of the episode

I think a good piece of advice if you were to have a management position in security at any company, write an apology letter to your customers for having had a breach and change your perspective on what it’s like to go through that. Maybe that’ll help you prioritize spending and how to do assessments within the enterprise. Brian Carter (Senior Cybercrimes Specialist, Chainalysis)

Minute-by-minute episode breakdown

  • (2:19) – What is ransomware and who are the targets for these illicit actors
  • (4:45)  – Why banning cryptocurrency isn’t an easy way to mitigate ransomware attacks
  • (6:20) – Are zero day exploits still the most popular vulnerability or are there other trending exploits
  • (8:45) – What part does compromised credentials play in mounting targeted ransomware attacks
  • (12:15) – Why ransomware is like a MLM Scheme, where only a few are walking away with alot of money
  • (19:30) – What is a ransomware supply chain and what is a ransomware kill chain
  • (22:40) – How does the impact of the shutdown of Hydra market impact the ransomware ecosystem

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

  • Blog: As Ransomware Payments Continue to Grow, So Too Does Ransomware’s Role in Geopolitical Conflict
  • Article: Cryptojacking: How the crypto boom is driving malware infections
  • Blog: Russian Cybercriminals Drive Significant Ransomware and Cryptocurrency-based Money Laundering Activity
  • Blog: Chainalysis In Action: How FBI Investigators Traced DarkSide’s Funds Following the Colonial Pipeline Ransomware Attack
  • Report: The Chainalysis 2022 Crypto Crime Report

Speakers on today’s episode

  • Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) https://www.linkedin.com/in/ianhandrews
  • Brian Carter (Senior Cybercrimes Specialist, Chainalysis) https://www.linkedin.com/in/brianccarter/

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