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Bitdefender Releases Tool To Decrypt Files Affected by REvil/Sodinokibi Ransomware

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How did the hacker escape the police? -He Ransomware.

Jokes aside, the victims of the infamous REvil/Sodinokibi ransomware now have a reason to celebrate, as they can have access to their files again.

A few hours ago, the cybersecurity company Bitdefender announced that it succesfully developed a tool to decrypt files altered by the REvil/Sodinokibi ransomware, returning them to their natural state.

The Infamous REvil/Sodinokibi Now Has a Cure

According to the announcement, Bitdefender received support from a “trusted law enforcement partner.” The company explains that they cannot provide further details unless and until they have the proper authorization. It is important to note that international investigative agencies are still working to apprehend members of the organization that developed this Ransomware.

The decryption tool is available for free and can be downloaded from the Bitdefender website. The software is not some miraculous anti-ransomware holy grail, but it has proven effective even if it cannot combat all versions of the Ransomware.


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Bitdefender claims that the tool works for versions developed before July 13, 2021. This is especially useful for victims who wanted to pay but could not access their files because the group went into the shadows in mid-July of this year, probably because the governments —especially the US— were pushing harder against the group and the use of Ransomware in general.

On July 13 of this year, parts of REvil’s infrastructure went offline, leaving infected victims who had not paid the ransom unable to recover their encrypted data. This decryption tool will now offer those victims the ability to take back control of their data and assets.

What is Ransomware and Why is This Tool So important?

Ransomware is a malicious program that encrypts the content stored on a computer, making it impossible to access any file. As it uses cryptography, a key is needed to decrypt the files. This can only be obtained by paying a ransom to the group responsible for the attack, usually in Bitcoin or Monero.

The difficulty in tracking crypto transactions helped spread the Ransomware so much that the REvil group mutated into the Ransomware as a Service business, selling its tool to other criminals.Ransomware victims include the Colonial Pipeline, Kia Motors, CD Projekt Red and Ireland’s Health Service Executive (HSE).

The seriousness of this phenomenon has led the United States to place it in the same category as terrorism.
REvil is believed to be located in Russia, so the case had a special diplomatic component —in July of 2021, US president Joe Biden said to the media that he spoke with the president of Russia, Vladimir Putin, and demanded more proactive actions to stop ransomware attacks, especially those coming from Russia.

“I made it very clear to him that the United States expects, when a ransomware operation is coming from his soil even though it’s not sponsored by the state, we expect them to act if we give them enough information to act on who that is,”

To download the decryption tool, you can follow the instructions in this guide.

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Source: https://cryptopotato.com/bitdefender-releases-tool-to-decrypt-files-affected-by-revil-sodinokibi-ransomware/

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THORChain Jumps 35% on Ethereum Trading Restart 

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

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Source: https://cryptobriefing.com/thorchain-jumps-35-on-ethereum-trading-restart/?utm_source=main_feed&utm_medium=rss

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Cryptoeats Disappears After Raising £500K From Token Sale

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Cryptoeats, a company that reportedly raised 8 million in a Series A funding round to build a crypto-based Ubereats alternative, disappeared after launching its token. According to estimations, the startup might have taken more than £500K from investors after the launch of its official token dubbed “eats.” The alleged scam was promoted by UK influencers and manufactured related apparel, and even hosting a launching party in London.

Cryptoeats Initiative Vanishes After Token Launch

Cryptoeats, a company that proposed to build a crypto-based Ubereats alternative, vanished from the internet just minutes after launching its official token. The company, which had an official website and claimed to have raised funds to build their proposal, stated it had run a public beta of the service, partnering with food chains like Nando’s and McDonald’s.

Furthermore, the startup claimed it had already onboarded more than 100,000 customers, who have signed up to download the app and use it on launch day. But the developers of eats, the native token of the platform, emptied the wallet holding the funds coming from the initial token sale, stealing more than £500K from investors, according to reports. Soon after this, all of the social media accounts of the startup disappeared, along with its website.

Cryptoeats Looked Legit

Cryptoeats worried about looking legitimate before disappearing. The company first outed a PR statement where it claimed it had raised $8 million in its series A funding round in 2020. The PR statement, that was published on October 16, declared the company was “set to take a large slice of the $16.6 billion delivery app market.” The statement was issued using Globenewswire and was featured on Yahoo Finance’s website, but both references have been eliminated now.

At a local level, Cryptoeats also did its work bringing U.K. influencers to promote the new initiative among their fanbase. Joey Essex, a reality TV celebrity that promoted Cryptoeats, stated to local media he lamented the situation. Essex stressed:

I’m fuming. This company used my name to dupe lots of people into investing money. It’s disgusting and I feel bad for anybody in that situation.

But Essex was not the only local celebrity that promoted Cryptoeats. Lots of other influencers attended a launch party last week in London, where Cryptoeats apparel was shown and worn by some of the assistants.

What do you think about the whole Cryptoeats fiasco? Tell us in the comments section below.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Source: https://news.bitcoin.com/cryptoeats-disappears-after-raising-500k-from-token-sale/

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Crypto Mass Adoption: Bringing Digital Currencies Into Everyday Life

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As the cryptocurrency market cap stands at a staggering $2.53 trillion, it is no more just another alternative financial system. Crypto users don’t want to invest in Bitcoin and altcoins as a future asset that will later appreciate in value. Instead, there is a rising clamor for making crypto a part of the mainstream economy. Visa and PayPal have already introduced crypto payments into their platforms, thus pushing for crypto’s mass adoption.

One of the latest projects bringing cryptocurrencies to the mainstream by lowering the barrier to entry is @Pay. The project aims to open up into unexplored terrains for everyday crypto transactions.

@Pay: Defining New Frontiers for Crypto

‘Buy Now, Pay Later’ transactions are becoming more common in everyday finance, and traditional financial platforms like PayPal who has been offering it for a while. @Pay is a DeFi protocol providing eCommerce payment solutions for merchants and consumers. It has garnered attention for being the first-of-its-kind ‘Buy Now Pay Later’ (BNPL) platform in the blockchain and cryptocurrency space that offers cost-effective solutions for all stakeholders.

The Australian platform is already showing signs of success due to its interest-free ecosystem and low entry cost. It comes with the promise that shoppers no longer will need to pay any interest or late fees for availing of BNPL products.

@Pay comes with its own integrated wallet, which enables users to buy products on the platform and pay using the crypto in their platform-integrated wallet. This removes the complexity of integrating any third-party crypto wallet and makes cryptos easily accessible to everyone.

When a user creates an account on @Pay, they get a base credit of $250. However, if the shoppers make timely repayments, they can increase their credit limits up to $1,200. @Pay enables buyers to purchase products and make payments for them in four installments over a period of three months. The best part is that it charges no interest and only has a fee of $6 per month for the management of users’ accounts.

Another interesting facet of the protocol is that users can stake their approved stablecoins to fund @Pay’s BNPL features. In return, they can receive @Pay yield tokens and earn a variable yield throughout the staking period. Additionally, users will also get @Pay tokens from staking, which they can farm to generate more passive income.

The @Pay Token

An integral part of @Pay is the @Pay token that powers the protocol. @Pay tokens are used for the purpose of governance and distributing platform rewards. The protocol however offers the option to mint more coins in case the supply runs out to cater to ongoing demand. The beauty of this is that all newly minted governance tokens will be based on new revenue-generating transactions on the platform.

How Will @Pay Impact Future Transactions?

To understand the effect that @Pay will have on the market, we first need to look at two things.

Firstly, we have the exponential growth of eCommerce and its staggering sales figures. As countries across the globe witnessed repeated lockdowns due to the COVID-19 pandemic, more people flocked to online shopping. In 2020 alone, eCommerce sales reached a record high of $4.28 trillion.

Secondly, BNPL significantly reduces cart abandonments and increases purchase sizes. The BNPL provider, Afterpay, has seen an 83% sales conversion when shoppers get the BNPL facilities. Klarna has also documented how BNPL shoots up the basket size by 68%.

Realizing the market requirements, the @Pay protocol seems to be providing the necessary solutions for the merchants and shoppers of the post-pandemic age. With a high credit line and interest-free, no late fees platform, shoppers can make hassle-free purchases. They will no longer need to depend on their interest-heavy credit cards to get hold of the items they need.

Furthermore, the elaborate rewards system ensures that shoppers will never want to default on their payments. In tokenizing BNPL features using sophisticated smart contracts, @Pay is at the forefront in driving mainstream crypto adoption. It will not be surprising to see them become one of the biggest platforms for crypto micropayments in the coming years.

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Source: https://www.newsbtc.com/news/company/crypto-mass-adoption-bringing-digital-currencies-into-everyday-life/

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