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CoinVault ransomware allows victims to decrypt one file for free

The CoinVault ransomware adds a new twist to ransomware, with cybercriminals allowing victims to decrypt one file for free

By Michael Hatamoto from Nov 25, 2014 @ 8:18 CST

The CoinValut ransomware victimizes businesses, encrypting critical work files - but there is an added twist with this particular piece of software. The criminals provide one free decrypt, providing access to a file, trying to provide additional faith in victims.

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CoinVault uses 256-bit AES encryption, and the decryption keys are stored on remote servers - and Windows files cannot be recovered unless the bitcoin payment is submitted to cybercriminals. Victims are ordered to pay 0.5 bitcoins, around $200 at current market prices, with the price increasing every 24 hours.

Ransomware attacks typically rely on employees falling prey to social engineering techniques, designed to trick users into clicking suspicious links or downloading unknown files.

NEWS SOURCES:Scmagazine.com, Webroot.com, I.imgur.com

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