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July 22, 2016 08:00 pm

Fortune 500 Company Hires Ransomware Gang To Hack the Competition

It's no secret that ransomware hackers are in the business to make money. But a new business arrangement hitting the news today may surprise many. Vice's Motherboard, citing research and investigation (PDF) from security firm F-Secure, is reporting that a Fortune 500 company, the name of which hasn't been unveiled, hired a ransomware gang to hack its competitors. From the article: In an exchange with a security researcher pretending to be a victim, one ransomware agent claimed they were working for a Fortune 500 company. "We are hired by [a] corporation to cyber disrupt day-to-day business of their competition," the customer support agent of a ransomware known as Jigsaw said, according to a new report by security firm F-Secure. "The purpose was just to lock files to delay a corporation's production time to allow our clients to introduce a similar product into the market first."In a statement to Motherboard, Mikko Hypponen said, "If this indeed was a case where ransomware was used on purpose to disrupt a competitor's operation, it's the only case we know of." F-Secure adds that the consumer representative noted that "politicians, governments, husbands, wives -- people from all walks of life contract [them] to hack computers, cell phones."

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