Accenture reveals Iran’s Ransomware development is threat to Bitcoin [BTC] & cybersecurity
Accenture, a prominent IT firm, with its intelligence group has detected Iran’s involvement in developing Ransomware for Bitcoin [BTC]. In an interview with Wall Street Journal, cybersecurity experts stated that the nation is taking all preparation to build ransomware for securing Bitcoin [BTC] , thereby, posing threat to cybersecurity
The recently released report of Accenture hints at the parties backing Iran’s ruling government and the criminals engaged in this dark web. Jim Guinn, the person who is responsible for Accenture’s industrial cybersecurity business has revealed the intention of the hackers which includes facilitating payments in digital currencies like Bitcoin [BTC].
The hazardous impact of ransomware has been prevalent for a considerable span of time affecting business and governments of different nations. Previously, it has also attacked and disabled the payment system of U.K hospital, cargo shipments and San Francisco Municipal Transportation Agency.
A crybersecurity firm, namely, CrowdStrike INC. has revealed the association of Iranian government with a type of ransomware, developed by iDefense. Furthermore, last month, Iran’s involvement in a pair of operations concerning theft of information has been reported by Palo Alto Networks Inc. and Symantec Corporation. Accenture has also discovered that on the customer networks in Middle East, installation of crypto mining software has occurred, which have links with Iran.
Iran’s note of defence
Guin has expressed that the oil and gas sector operating in Middle East is encountering difficulties due to the software of crypto mining. He has pointed out that millions of dollars associated with compute cycles have got stolen in 2017. However, a tone of deniability has come from the side of Iran. Iran has tried to defend itself stating that the nation is a victim of cyber-attack and hacking activities.
The primary focus of Iran to upgrade its cyber potential is linked to an incident of the past, as per the report of security researchers and officials of the government. Nearly a decade ago, Israel and U.S. joined hands to initiate Stuxnet, a cyber-attack to disable the centrifuges enriched with uranium. This uranium enriched centrifuges played a vital role in the nuclear development program of Iran.
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