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TRM Labs Research Report: 70% of Cryptocurrency Proceeds Theft Originated from Russian-Speaking Hacker Groups
According to new research from TRM Labs, Russia’s involvement in the illegal cryptocurrency business has increased significantly in 2023, reaching unprecedented levels of influence and profitability.
Russian hackers dominate cryptocurrency crime
TRM Labs research reveals a grim phenomenon: nearly 70% of cryptocurrency proceeds from ransomware can be traced back to Russian-speaking hacker groups, a proportion that highlights their prominent position in the cybercrime world.
The report further exposes Russia’s central role in global hacking activities, with these hacking entities having illegally stolen up to $500 million in cryptocurrency. Of particular concern are two ransomware operators, ALPHV/BlackCat and Lockbit, whose illegal gains exceeded $320 million.
Russian hackers dominate cryptocurrency crime
TRM Labs research reveals a grim phenomenon: nearly 70% of cryptocurrency proceeds from ransomware can be traced back to Russian-speaking hacker groups, a proportion that highlights their prominent position in the cybercrime world.
The report further exposes Russia’s central role in global hacking activities, with these hacking entities having illegally stolen up to $500 million in cryptocurrency. Of particular concern are two ransomware operators, ALPHV/BlackCat and Lockbit, whose illegal gains exceeded $320 million.
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