Tracing a Ransomware Payment for an Insurance Claim
A small business paid a ransomware demand in BTC to regain access to encrypted files, then needed the payment's movement documented to support a cyber insurance claim.
The Situation
A small business paid a ransomware demand in BTC to regain access to encrypted files, then needed the payment's movement documented to support a cyber insurance claim.
The Challenge
The work was entirely retrospective. The payment had already left the company's wallet before we were engaged, so nothing about the incident itself could be observed directly.
The Investigation
We modeled the ransom payment's path from the company's wallet through the attacker's collection address and its subsequent consolidation with other funds.
Findings
The payment joined a larger pool of funds consistent with multiple ransomware incidents before being split toward two separate exchanges.
Outcome
A documented payment trail was provided to the company's insurer in support of its claim, and the findings were shared through a law enforcement referral process at the client's request.
Lessons
Even after a ransom has been paid, a documented trace can materially support an insurance claim and contribute to a broader law enforcement picture of the attacker's activity.
Company Wallet
Origin of the ransom payment.
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