The IceFire ransomware emerged in the first half of March 2022, the group has applied the tactic of double extortion, which consists of locking the system by encryption and stealing sensitive files with the intent to disclose them if the company does not pay the ransom.
IceFire uses the AES+RSA encryption algorithm, this is an extremely powerful encryption, it generates a unique decryption key, decryption is only done with this key which is kept by the group on a remote private server.
The group charges a high ransom for the release of the decryption key, but not only for this, this price is also charged so that no company files are released.
The group has concentrated its attacks on English-speaking users, and there have been numerous reported attacks around the world by the group.
It is not known for sure what is the main way the group uses to break into a victim’s system, but it is most likely through spam and phishing email campaigns.
After IceFire has broken into the system it copies the files and uploads them to its servers and encrypts the original files. All files affected and by the ransomware are given the extension .iFire.
A file is left with named “iFire-readme.txt” in it are the ransomware terms for the decryption key and a link to the group’s website in the TOR browser. After contact, the group sets the ransom amount that must be paid in cryptocurrency, the currency used by the group is Monero.
Even with the payment, the groups give no guarantee that the decryption key will actually be delivered or that the stolen data will not be released. So think very carefully before negotiating with hackers.
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