The Extortion Economy

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**The Extortion Economy**

Ransomware is proliferating across the country, disabling computer systems and harming critical infrastructure — hospitals, city governments, schools, even an oil pipeline. The technology that enables ransomware may be new, but extortion and ransom are not. So why is this happening now? And can it be stopped? In this 5-part series from MIT Technology Review and ProPublica we look at the money, people and technology behind the explosion of ransomware that is delivering hundreds of millions of dollars to cybercriminals around the world. Hosted by Meg Marco.

Latest Episodes:

Part 5: File Not Found Dec 23, 2021

The problem of ransomware has many causes but no clear solution. What's coming next? This is part five.

We Meet:

Fabian Wosar, CTO, Emsisoft

Jake Johnson, North Carolina State Representative

Abishur Prakash, Geopolitical Futurist

Paul Rosenberg, Mayor, Village of Rye Brook, New York

Kimberly W. LaGrue, CIO, City of New Orleans, Louisiana

Allan Liska, Principal Research Scientist, Recorded Future

Sounds From:

Video: Governor declares state of emergency after ransomware attack on Louisiana, Source: WWLTV, https://www.youtube.com/watch?v=pT1mAILZVVg

Video: City Hall set to open Monday following cyber attack, Source: WDSU News, https://www.youtube.com/watch?v=jEDW3ETTDkg

Video: Cyber attack cripples New Orleans for days, Source: Fox News, https://video.foxnews.com/v/6116822204001#sp=show-clips

Video: City Hall adapting to life without computers after New Orleans cyberattack, Source: WWLTV, https://www.youtube.com/watch?v=mwnwG63K-Jc

Video: New Orleans government targeted in cyberattack; no ransom demanded, Source: WWLTV, https://www.youtube.com/watch?v=z5A0ANiQ3_Q

Credits:

This series is hosted by Meg Marco and produced by Emma Cillekens, Tate Ryan-Mosley, and Anthony Green. It’s inspired by reporting by Renee Dudley and Daniel Golden from ProPublica. We're edited by Bobbie Johnson, Michael Reilly, Mat Honan, and Robin Fields. Our mix engineer is Erick Gomez and theme music by Jacob Gorski. Art is from Lisa Larson-Walker and Eric Mongeon. Emma Cillekens is our voice coach. The executive producers of The Extortion Economy podcast are Meg Marco and Jennifer Strong.

Part 4: The Extortion Industry Dec 23, 2021

We look at the reasons ransomware is so hard to solve and ask hard questions about who is really helping the victims. This is part four.

We Meet:

Fabian Wosar, CTO, Emsisoft.

Bob Wice, Head of Underwriting Management. Cyber and Tech, Beazley.

Bill Siegel, CEO and cofounder, Coveware.

Sounds From:

Video: CDOT employees dealing with yet another SamSam ransomware attack, Source: Denver7, https://www.youtube.com/watch?v=lubGaiNT1IU

Video: Ransomware Hits CDOT Computers, Source: CBS Denver, https://www.youtube.com/watch?v=FbuEXUUvD-A

Video: Ransomware Recovery Service by Proven Data, Source: Proven Data, https://www.youtube.com/watch?v=hyeaBxE4JGQ

Credits:

This series is hosted by Meg Marco and produced by Emma Cillekens, Tate Ryan-Mosley and Anthony Green. It’s inspired by reporting by Renee Dudley, Jeff Kao, and Daniel Golden from ProPublica. We're edited by Bobbie Johnson, Michael Reilly, Mat Honan and Robin Fields. Our mix engineer is Erick Gomez and theme music by Jacob Gorski. Art is from Lisa Larson-Walker and Eric Mongeon. Emma Cillekens is our voice coach. The executive producers of The Extortion Economy podcast are Meg Marco and Jennifer Strong.

Part 2: The Bad Actors Nov 24, 2021

In an absurd contract, look into the criminal world where the stakes are high, but the methods are increasingly business-like and meet the people who interact with the ransomware hackers. This is part two.

We Meet:

Chester Wisniewski, Principal Research Scientist, Sophos

Allan Liska, Principal Research Scientist, Recorded Future

Fabian Wosar, CTO, Emsisoft

Kurtis Minder, CEO, GroupSense

Lisa Forte, Co-founder, Red Goat Cyber Security

Credits:

This series is hosted by Meg Marco and produced by Emma Cillekens, Tate Ryan-Mosley and Anthony Green. It’s inspired by reporting from Renee Dudley and Daniel Golden from ProPublica. We're edited by Bobbie Johnson, Michael Reilly, Mat Honan and Robin Fields. Our mix engineer is Erick Gomez with help from Rebekah Wineman. Our theme music is by Jacob Gorski. Art is from Lisa Larson-Walker and Eric Mongeon. Emma Cillekens is our voice coach. The executive producers of The Extortion Economy podcast are Meg Marco and Jennifer Strong.

Sounds From:

Video: Cyber Attack Forces Major Gas And Diesel Pipeline Shutdown, Source: NBC Nightly News, https://www.youtube.com/watch?v=aGbSy82aZBo

Video: Here’s the hacking group responsible for the Colonial Pipeline shutdown, Source: CNBC https://www.cnbc.com/2021/05/10/hacking-group-darkside-reportedly-responsible-for-colonial-pipeline-shutdown.html

Video: Cyberattack of Colonial Pipeline drives panic buying in Tampa Bay, Source: WFLA News Channel 8, https://www.youtube.com/watch?v=DgDyz31sIhI

Video: Colonial Pipeline paid $5 million ransom to hackers. Source: CNBC, https://www.cnbc.com/2021/05/13/colonial-pipeline-paid-ransom-to-hackers-source-says.html

Video: Colonial Pipeline CEO Joseph Blount testifies on ransomware attack before Congress, Source: CNBC, https://www.youtube.com/watch?v=DcYePKjI_mc

Credits:

This series is hosted by Meg Marco and produced by Emma Cillekens, Tate Ryan-Mosley and Anthony Green. It’s inspired by reporting by Renee Dudley and Daniel Golden from ProPublica. We're edited by Bobbie Johnson, Michael Reilly, Mat Honan and Robin Fields. Our mix engineer is Erick Gomez with help from Rebeckah Wineman and theme music by Jacob Gorski. Emma Cillekens is our voice coach. The executive producers of The Extortion Economy podcast are Meg Marco and Jennifer Strong.

Part 3: All Cats, No Mice Nov 24, 2021

After the Colonial Pipeline payment, the FBI followed the money and cybersecurity researchers followed the ransomware group. We followed both. This is part three.

We Meet:

Fabian Wosar, CTO, Emsisoft

Elvis Chan, Assistant Special Agent in Charge, FBI San Francisco

Credits:

This series is hosted by Meg Marco and produced by Emma Cillekens, Tate Ryan-Mosley and Anthony Green. It’s inspired by reporting from Renee Dudley and Daniel Golden from ProPublica. We're edited by Bobbie Johnson, Michael Reilly, Mat Honan and Robin Fields. Our mix engineer is Erick Gomez. Our theme music is by Jacob Gorski. Art is from Lisa Larson-Walker and Eric Mongeon. Emma Cillekens is our voice coach. The executive producers of The Extortion Economy podcast are Meg Marco and Jennifer Strong.

Sounds From:

Video: Colonial Pipeline hack leads to gas shortage

Source: ABC News, https://www.youtube.com/watch?v=Be3gpaTQJlA

Video: Cyberattack of Colonial Pipeline drives panic buying in Tampa Bay

Source: WFLA News Channel 8, https://www.youtube.com/watch?v=DgDyz31sIhI

Video: Fuel starts flowing after Colonial Pipeline restarts operations

Source: ABC News, https://www.youtube.com/watch?v=EgWSgQf_dSc

Video: Department of Justice officials discuss Colonial Pipeline ransomware attack

Souce: PBS News Hour, https://www.youtube.com/watch?v=iwjDMJi8hOQ

Part 1: The Problem Nov 24, 2021

A new-age iteration of the old-age extortion problem. A ransomware vigilante, a piracy (as in actual boats) expert, a school administrator, and a kidnapping victim share their experiences. This is part one.

We Meet:

Fabian Wosar, CTO, Emsisoft

Doug Russell, Director of Technology, Haverhill Public Schools

Lisa Forte, Co-founder, Red Goat Cyber Security

Credits:

Sounds From:

Video: Colonial Pipeline CEO Joseph Blount testifies at the Senate Homeland Security Committee, Source: CNBC Television, https://www.youtube.com/watch?v=DcYePKjI_mc

Video: Roving Report Italy, Source: AP, http://www.aparchive.com/metadata/youtube/8b08bfc68a0b203d238aa8e0c4316e61

Video: CBS Evening News 1989-12-14, Source: CBS, https://www.youtube.com/watch?v=wHsbZEX5pQw