ransomware

Hello again, tech-savvy Binancians! 👋
After discussing various types of scams that attack our psychological and emotional states, this time we will discuss threats that are more technical yet equally dangerous: Malware & Ransomware. These threats can infiltrate your computer or smartphone and steal important information, including your crypto wallet keys! Let’s break it down so you can be more vigilant and safe.
What Is Malware & Ransomware? 🤔
Simply put, Malware is a general term for various types of malicious software that are designed to damage or gain unauthorized access to your device. It can take many forms, such as viruses, worms, trojans, spyware, and more.

Chainalysis .- On February 20, 2024, the UK National Crime Agency (NCA), together with the US Department of Justice (DOJ), announced the arrest of Lockbit, which has been one of the most prolific ransomware-as-a-service (RaaS) groups, operating over the past few years.
In this operation, the NCA, the FBI and international law enforcement partners worked together to seize public servers and websites that were integral to Lockbit's operations, and obtained decryption keys for Lockbit victims to recover. your data without paying a ransom.

DOJ seizes $24M in crypto from Qakbot suspect Gallyamov.
Qakbot malware enabled ransomware attacks since 2008.2023 operation disrupted Qakbot, seizing Bitcoin and stablecoins.Forfeited funds aim to compensate ransomware victims.DOJ intensifies crackdown on global cybercrime networks.
#Qakbot #cryptocurrency #DOJ #ransomware #cybercrime
The U.S. Department of Justice has taken action against a Russian national accused of orchestrating the Qakbot malware operation. Authorities seized over $24 million in cryptocurrency linked to Rustam Rafailevich Gallyamov, who allegedly developed the notorious malware. The civil forfeiture complaint targets assets tied to a botnet responsible for significant global cyber damage.

Gallyamov, a Russian citizen, faces charges for his role in the Qakbot malware, which has been active since 2008. The malware infected systems worldwide, enabling ransomware attacks that caused hundreds of millions in losses. Federal prosecutors aim to confiscate the seized digital assets to compensate victims of these cyberattacks.

Qakbot’s Role in Ransomware Attacks

Qakbot facilitated ransomware operations by providing access to compromised computers. Cybercriminals used the botnet to deploy ransomware strains like Prolock, Dopplepaymer, Egregor, REvil, Conti, Name Locker, Black Bast, and Cactus. These attacks targeted U.S. clinics, companies, and government systems, extracting substantial ransoms.

In 2023, a U.S.-led international operation disrupted Qakbot’s infrastructure. Authorities seized over 170 Bitcoin, along with $4 million in USDT and USDC stablecoins from Gallyamov’s accounts. The operation dismantled parts of the botnet, significantly weakening its global reach. The DOJ’s latest action builds on these efforts to hold perpetrators accountable.

Akil Davis, Assistant Director in Charge of the FBI’s Los Angeles Field Office, emphasized the impact: “The 2023 takedown crippled Qakbot, and this forfeiture underscores our commitment to seizing illicit gains.” The DOJ aims to redirect the confiscated funds to victims, addressing the financial harm caused by the malware.

Ongoing Efforts to Combat Cybercrime

The DOJ’s forfeiture action is part of a broader crackdown on cybercrime networks. Gallyamov’s indictment coincides with charges against 16 others linked to the DanaBot malware, which caused over $50 million in damages. Operation Endgame, a global initiative, supported these efforts by targeting major malware networks.

The seized $24 million includes various cryptocurrencies held in wallets controlled by Gallyamov. Federal authorities traced these assets through blockchain analysis, a method increasingly used to combat cybercrime. The DOJ’s focus on digital assets reflects the growing role of cryptocurrency in illicit activities.

Victims of Qakbot-related ransomware attacks may benefit from the seized funds. The DOJ has prioritized restitution, aiming to provide relief to those affected by the botnet’s operations. This action sends a clear message to cybercriminals: illicit gains are not beyond the reach of law enforcement.

The case highlights the challenges of combating sophisticated malware networks. Qakbot’s long history, spanning over a decade, underscores the persistence of cyber threats. Authorities continue to develop strategies to disrupt such operations and recover stolen assets.