Steptoe Cyberlaw Podcast

We kick off a jam-packed episode of the Cyberlaw Podcast by flagging the news that ransomware revenue fell substantially in 2022. There is lots of room for error in that Chainalysis finding, Nick Weaver notes, but the effect is large. Among the reasons to think it might also be real is resistance to paying ransoms on the part of companies and their insurers, who are especially concerned about liability for payments to sanctioned ransomware gangs. I also note that a fascinating additional insight from Jon DiMaggio, who infiltrated the Lockbit ransomware gang. He says that Entrust was hit by Lockbit, which threatened to release its internal files, and that the company responded with days of Distributed Denial of Service (DDoS) attacks on Lockbit’s infrastructure – and never did pay up. That would be a heartening display of courage. It would also be a felony, at least according to the conventional wisdom that condemns hacking back. So I cannot help thinking there is more to the story. Like, maybe Canadian Sec