FBI seized roughly $2.3 million in cryptocurrency tied to ransomware attacks

FBI seized roughly $2.3 million in cryptocurrency tied to ransomware attacks
FBI seized roughly $2.3 million in cryptocurrency tied to ransomware attacks

FBI seized roughly $2.3 million in cryptocurrency tied to ransomware attacks

It is no mystery that the increasing cases of ransomware attacks are directly attached to the unprecedented prominence of cfd trader in the last decade. Big multinational companies are forced to pay the humongous amount of money as ransom to be able to regain access to their operation.

The involvement of infamous syndicates in the cyberattacks has grown exponentially which has alarmed the leading companies operating today. How can it be curbed? Are the current law enforcements not robust enough to nab the hackers & scammers lurking in the decentralized digital realm? Is there any end to it? It will help you to gain a comprehensive understanding of this matter in this article.

Here are some important details around the issue along with its implications:

Putting a leash on “REvil”

In the recent news that came out from US law enforcement, a total amount of nearly $2.3 million was seized by the US cyber authorities in August. It was tied to the ransomware attack which was perpetrated by a citizen of Russia. The name of the ransomware attacker has been circulated on social media as “Aleksandr Sikerin” who is believed to be a resident of Russia from the St. Petersburg location.

He was believed to be one of the pivotal members of an infamous cyber-gang “REvil” which operates & thrives freely in the cryptocurrency realm. This notorious gang has attacked numerous American businesses time & again by extorting a humongous amount of money from the victim over the years.

FBI crackdown

With constant & relentless efforts made by the FBI, the recent attack by the REvil was stalled to the most extent. The ransom was also traced successfully by tracking the “Wallet” or cryptocurrency account. The account was successfully taken over by the FBI and the account’s owner “Aleksandr Sikerin” was found guilty of this massive ransomware attack.

This particular seizure from the FBI comes in the form of the agency’s effort to crack down on such infamous & notorious gangs who constantly stay vigilant to claim their next hapless victim. These groups perpetrate some detrimental attacks with a sole motive to decimate the US infrastructure inside out. However, US law enforcements continue to stymie the progress of such gangs by the proactive response.

The Appeal

Considering a dynamic surge in the ransomware attacks in the last decade, the White House has appealed to the authorities in Russia & the president Vladimir Putin to help stop such atrocities. They have appealed to the Russian government to take stringent actions against the perpetrators who are involved in such ransomware attacks.

The justice department of the US announced that they have been able to successfully seize $6 million which were being given as ransom payments. Most of these attacks had one evil mastermind “REvil” which is hell-bent to tear down the security apparatus of US companies.

Polyanin

It is an infamous organization based in Russia that is infamous for conducting frequent ransomware attacks. The group is believed to have perpetrated more than 3,000 cyber-attacks claiming outrageous ransom amounts. But, it is to be noted that all the seizures made by the US law enforcement agencies & FBI is just a little fraction of what “REvil” has currently in the pocket. A staggering amount of $200 million has been sucked out of the US companies from such ransomware attacks led by “REvil”. All such attacks are believed to have taken place between the time period of 2019 to 2021.

Private Firm under constant threat

US private firms are constantly warned by the agencies to stay on guard & inform the FBI as and when they get attacked by cyber-criminals. They have also been told not to pay the ransom amount as the amount of data that gets stolen by the hackers is barely ever recovered so there’s no point in paying the ransom.

Complying with the FBI is the only option that the companies can stick to in desperate times. “REvil” is on the radar of the FBI but the majority of the attacker’s identities remain disclosed which makes the FBI’s job a lot more taxing than it already is.

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