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Ransomware Cashout Service Abuses US Betting Website

(Softpedia) Security expert Brian Krebs has identified a ransomware cashout service that abuses a feature integrated into a US-based betting website to allow cybercriminals to launder their illegally earned funds.

Cybercriminals can make millions of dollars each year with the aid of ransomware, the malicious elements that lock up computers and keep them that way until the victim pays a ransom via services such as MoneyPak, PaySafe or Ukash.

While infecting computers with ransomware is not that difficult, converting the funds into cash is. In the case of MoneyPak, the crooks can spend the money they make at stores that accept it. They can also connect MoneyPak to a bank account, PayPal or prepaid MasterCard or Visa cards…read full article

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