U.S. offers $10 million reward for overseas ransomware attacks

The U.S. government said Thursday it will begin offering a $10 million reward for information that can identify or locate the perpetrators of malicious cyber attacks on behalf of foreign governments. These foreign governments are trying to cripple the network operations of U.S. businesses and infrastructure.

The announcement of the new reward comes as the United States is facing a growing threat of ransomware. Ransomware is when foreign entities demand that U.S. businesses and institutions pay millions of dollars to unlock critical technology systems obtained by hackers. U.S. officials say the attacks usually originate overseas, often operating from within Russia.

One of the largest U.S. pipeline operators, a major meat processing plant and hundreds of small businesses have been hit by ransomware this year or recently, forcing the companies to pay millions of dollars to get back up and running or risk losing vital data.

The U.S. government says it has paid about $350 million in ransoms to malicious cyber actors in 2020, more than triple the amount paid a year ago.

The U.S. State Department said a new anonymous channel has been set up to allow malicious activity to be reported anonymously.

Meanwhile, the federal Departments of Justice and Homeland Security have set up a new Web site at stopransomware.gov to provide information on how to protect yourself and respond to attacks.

DHS Secretary Alejandro Mayorkas told CNN that it is a “one-stop store” that provides “information on how to prevent individuals from becoming victims of ransomware and how to work with the federal government if they are victimized. information on how to prevent individuals from becoming victims of ransomware and how to work with the federal government to solve the problem.

He said, “We certainly caution them not to pay the ransom.”

Federal Attorney General Merrick Garland said in a statement that the government alone cannot prevent ransomware attacks.

Garland said it is “important that business leaders in all sectors recognize this threat, prioritize hardening their systems and immediately report these attacks to law enforcement agencies.”