A ransomware group linked to the CDK Global cyber attack in June received more than $25 million in Bitcoin, according to a report from on-chain research firm ZachXBT.
Last month, CDK Global suffered an attack that disrupted its software and affected approximately 15,000 U.S. auto dealers.
CDK pays 387 BTC to stop cyber attack
According to ZachXBT, an address associated with Blacksuit received a payment of 387 BTC on June 21. The funds are then transferred to several centralized exchanges. Blacksuit emerged in 2023 and gained attention as a ransomware group targeting U.S. companies.
The payment is consistent with previous reports by Bloomberg that CDK Global planned to pay the ransom to prevent data leaks. The company agreed to pay tens of millions of dollars to speed up system recovery.
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The Rise of Ransomware Attacks
Ransomware delivers malicious software that restricts access to computer systems or data and demands a ransom (usually in the form of cryptocurrency) for release. Chainanalysis, a blockchain analysis company, said that losses from cryptocurrency-related ransomware attacks will almost double to more than $1 billion by 2023.
Notable Ransomware Groups and Actions
The analytics firm noted that a ransomware group called “cl0p” paid nearly $100 million in ransoms during this period. The group uses file-sharing software MOVEit. The Black Bastar gang reportedly extorted at least $107 million in Bitcoin. Most of the laundered ransom money was transferred to the sanctioned Russian cryptocurrency exchange Garantex.
BeInCrypto also reported a Bitcoin ransomware attack targeting hospitals across Romania in February, demanding 3.5 BTC as ransom. These incidents have led to multiple warnings from federal agencies such as the FBI against these malicious players.
“Ransomware is not only numerous but also expanding, making it difficult to monitor every incident or track every ransom paid in cryptocurrency… New players are emerging,” explains Chainanalysis.
Preventing Ransomware Attacks
The FBI recommends: “Regularly patch and update your software and applications to the latest versions, and perform regular vulnerability assessments.” It is crucial for individuals and organizations to stay vigilant and take necessary precautions to protect against ransomware threats.
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