REvil Ransomware Gang Hit by Reverse Sting - Department of Justice Seizes $2.3 Million in Cryptocurrency Paid to the Ransomware Extortionists Darkside
By Iain Fraser - Cybersecurity Journalist
WASHINGTON: The US Department of Justice (DoJ) has confirmed that it has seized 63.7 bitcoins currently valued at approximately $2.3 million. These funds allegedly represent the proceeds of a May 8, ransom payment to individuals in a group known as DarkSide, which had targeted Colonial Pipeline, resulting in critical infrastructure being taken out of operation.
On or about May 7, Colonial Pipeline was the victim of a highly publicised ransomware attack resulting in the company taking portions of its infrastructure out of operation. Colonial Pipeline reported to the FBI that its computer network was accessed by an organization named DarkSide and that it had received and paid a ransom demand for approximately 75 bitcoins.
As alleged in the supporting affidavit, by reviewing the Bitcoin public ledger, law enforcement was able to track multiple transfers of bitcoin and identify that approximately 63.7 bitcoins, representing the proceeds of the victim’s ransom payment, had been transferred to a specific address, for which the FBI has the “private key,” or the rough equivalent of a password needed to access assets accessible from the specific Bitcoin address. This bitcoin represents proceeds traceable to a computer intrusion and property involved in money laundering and may be seized pursuant to criminal and civil forfeiture statutes. Read Full Story - Register Free
About Iain Fraser -Cybersecurity Journalist
Iain Fraser Cybersecurity Journalist and Commentator - Gibraltar (Accredited Member of NUJ, IFJ and ONA) and European Authority Writer & Corporate Lecturer on all aspects of Cybersecurity Awareness, Threat Management & Best Practice Mitigation.
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