Tracking Ransomware End-to-end

Danny Yuxing Huang, Maxwell Matthaios Aliapoulios, Vector Guo Li, Luca Invernizzi, Elie Bursztein, Kylie McRoberts, Jonathan Levin, Kirill Levchenko, Alex C. Snoeren, Damon McCoy

    Research output: Chapter in Book/Report/Conference proceedingConference contribution

    Abstract

    Ransomware is a type of malware that encrypts the files of infected hosts and demands payment, often in a crypto-currency like Bitcoin. In this paper, we create a measurement framework that we use to perform a large-scale, two-year, end-to-end measurement of ransomware payments, victims, and operators. By combining an array of data sources, including ransomware binaries, seed ransom payments, victim telemetry from infections, and a large database of bitcoin addresses annotated with their owners, we sketch the outlines of this burgeoning ecosystem and associated third-party infrastructure. In particular, we are able to trace the financial transactions, from the acquisition of bitcoins by victims, through the payment of ransoms, to the cash out of bitcoins by the ransomware operators. We find that many ransomware operators cashed out using BTC-e, a now-defunct Bitcoin exchange. In total we are able to track over $16 million USD in likely ransom payments made by 19,750 potential victims during a two-year period. While our study focuses on ransomware, our methods are potentially applicable to other cybercriminal operations that have similarly adopted Bitcoin as their payment channel.

    Original languageEnglish (US)
    Title of host publicationProceedings - 2018 IEEE Symposium on Security and Privacy, SP 2018
    PublisherInstitute of Electrical and Electronics Engineers Inc.
    Pages618-631
    Number of pages14
    ISBN (Electronic)9781538643525
    DOIs
    StatePublished - Jul 23 2018
    Event39th IEEE Symposium on Security and Privacy, SP 2018 - San Francisco, United States
    Duration: May 21 2018May 23 2018

    Publication series

    NameProceedings - IEEE Symposium on Security and Privacy
    Volume2018-May
    ISSN (Print)1081-6011

    Other

    Other39th IEEE Symposium on Security and Privacy, SP 2018
    CountryUnited States
    CitySan Francisco
    Period5/21/185/23/18

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    Keywords

    • bitcoin
    • blockchain
    • malware
    • ransomware

    ASJC Scopus subject areas

    • Safety, Risk, Reliability and Quality
    • Software
    • Computer Networks and Communications

    Cite this

    Huang, D. Y., Aliapoulios, M. M., Li, V. G., Invernizzi, L., Bursztein, E., McRoberts, K., Levin, J., Levchenko, K., Snoeren, A. C., & McCoy, D. (2018). Tracking Ransomware End-to-end. In Proceedings - 2018 IEEE Symposium on Security and Privacy, SP 2018 (pp. 618-631). [8418627] (Proceedings - IEEE Symposium on Security and Privacy; Vol. 2018-May). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/SP.2018.00047