DeFi Daily News
Friday, August 29, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Finance Business Finance

Russian Hackers Admit to Cyber Heist Extorting $500 Million in Ransom Payments

David Voreacos, Bloomberg by David Voreacos, Bloomberg
July 18, 2024
in Business Finance
0 0
0
Russian Hackers Admit to Cyber Heist Extorting 0 Million in Ransom Payments
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


In a groundbreaking development that has sent shockwaves through the global cybersecurity community, two Russian nationals, previously unnamed figures behind a string of devastating ransomware attacks across the United States, Asia, Europe, and Africa, have come forward. They confessed to their infamous cyber-criminal activities, aligning themselves with the notorious hacking syndicate dubbed LockBit.

These individuals, Ruslan Magomedovich Astamirov and Mikhail Vasiliev, have openly admitted to their instrumental roles in orchestrating and disseminating the nefarious ransomware variant that exploded onto the scene in 2020. This digital plague rapidly cemented its reputation as one of the most formidable and destructive cyber threats the world has ever seen. According to the U.S. Justice Department, the LockBit attacks have ensnared over 2,500 victims, extorting at least $500 million in ransom payments.

The drama unfolded in the federal courtrooms of Newark, New Jersey. Here, apart from Astamirov and Vasiliev, four other individuals have faced charges linked to the LockBit assaults. Among them is Dimitry Yuryevich Khoroshev, allegedly the mastermind behind LockBit, acting as its creator, developer, and overseer. The U.S. has put a bounty of up to $10 million on information leading to his apprehension.

At 21 and 34 years old, respectively, Astamirov, hailing from the Chechen Republic, and Vasiliev, from Bradford, Ontario, pleaded guilty to conspiracy to commit computer fraud and abuse. Their connection to LockBit—a chilling example of ransomware’s evolution into a service model—highlights a dangerous trend. Individuals or “affiliates” like them rent the ransomware to conduct cyberattacks, sharing a portion of their ill-gotten gains with the syndicate’s leaders.

The response from the U.S. and international allies has been swift and decisive, aiming to dismantle the networks that support such ransomware operations. Despite their efforts, the cybercriminals’ sanctuary within Russia’s borders poses a considerable hurdle in bringing these individuals to justice. However, significant progress was made earlier this year when U.S. and UK forces struck at the heart of LockBit, arresting key members, confiscating servers, confiscating cryptocurrency, and liberating data from their clutches.

Highlighting specific incidents, the U.S. detailed how Vasiliev targeted at least a dozen entities, including educational establishments in the UK and Switzerland. His arrest by Canadian officials in November 2022 and subsequent extradition to the U.S. in June marked a critical victory. Astamirov’s apprehension by the FBI painted a picture of cyber sophistication and evasion, eventually leading to his capture and the unveiling of his digital trails during a crucial interview with FBI agents.

Their sentencing is poised for January 8, 2025, a day that will likely mark a significant milestone in the ongoing battle against cybercrime and ransomware specifically. This case exemplifies the intricate, high-stakes dance between law enforcement and digital outlaws, a narrative that continues to evolve with each technological advancement.

As we witness this relentless pursuit of justice, one can’t help but marvel at the intricate cat-and-mouse game unfolding on the world stage. The story of LockBit is not just a cautionary tale of the digital age but also a testament to the resilience and dedication of those who stand guard over our digital lives. As we venture further into this labyrinth of code and crime, let us all stay vigilant, informed, and, above all, entertained by the unending narrative of the cyber world.

For more captivating and trending news articles, visit DeFi Daily News.

Recommended Newsletter:
CEO Daily provides key context for the news leaders need to know from across the world of business. Every weekday morning, more than 125,000 readers trust CEO Daily for insights about–and from inside–the C-suite. Subscribe Now.

In conclusion, as we revel in the tale of cyber skirmishes, high-level arrests, and the ongoing struggle between hackers and the law, it’s evident that the digital arena continues to be a battleground rife with intrigue, strategy, and unexpected alliances. While the sentencing of Astamirov and Vasiliev turns the page on one chapter of the LockBit saga, the story is far from over. In the ever-evolving realm of cybersecurity, each day brings a new development, a fresh challenge, or a novel perspective, keeping aficionados on the edge of their seats. Indeed, in this digital epoch, the only certainty is the relentless pace of change, ensuring that the saga of LockBit—and the wider narrative of cyber conflict—will continue to captivate and entertain.



Source link

Tags: AdmitCyberExtortingHackersHeistMillionPaymentsRansomRussian
ShareTweetShare
Previous Post

Stock market today: S&P 500, Nasdaq near session lows as tech rout continues | July 18, 2024

Next Post

Watch: Hulk Hogan full speech at 2024 RNC | LiveNOW from FOX

Next Post
Watch: Hulk Hogan full speech at 2024 RNC | LiveNOW from FOX

Watch: Hulk Hogan full speech at 2024 RNC | LiveNOW from FOX

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
Jared Kushner Nears Deal to Purchase Ownership Stake in Phoenix

Jared Kushner Nears Deal to Purchase Ownership Stake in Phoenix

July 15, 2024
zkLink Revolutionizes Telegram User Onboarding with One-Click Web3 Integration Using MagicLinks Toolkit

zkLink Revolutionizes Telegram User Onboarding with One-Click Web3 Integration Using MagicLinks Toolkit

September 17, 2024
rewrite this title Falcon Finance Launches On-Chain Insurance Fund With M Initial Capital

rewrite this title Falcon Finance Launches On-Chain Insurance Fund With $10M Initial Capital

August 28, 2025
Crypto Sentiment Shift in 2025📈CoinDepo INTERVIEW

Crypto Sentiment Shift in 2025📈CoinDepo INTERVIEW

August 3, 2025
Top 5 Superior Ethereum Faucets to Earn Free ETH in 2024

Top 5 Superior Ethereum Faucets to Earn Free ETH in 2024

July 16, 2024
I stumbled upon a Duolingo hack, and now I regret it

I stumbled upon a Duolingo hack, and now I regret it

October 12, 2024
rewrite this title Crypto Liquidations Top 0 Million as Bitcoin, Ethereum and XRP Sink Into the Weekend – Decrypt

rewrite this title Crypto Liquidations Top $500 Million as Bitcoin, Ethereum and XRP Sink Into the Weekend – Decrypt

August 29, 2025
rewrite this title Facundo Buonanotte transfer news: Chelsea in talks to sign Brighton forward on loan ahead of Leeds

rewrite this title Facundo Buonanotte transfer news: Chelsea in talks to sign Brighton forward on loan ahead of Leeds

August 29, 2025
rewrite this title Despite XRP’s 10x Lead, LINK Is The Real Banking Coin, Analyst Says

rewrite this title Despite XRP’s 10x Lead, LINK Is The Real Banking Coin, Analyst Says

August 29, 2025
rewrite this title Flare Network Partners With Everything Blockchain To Integrate XRPFi For Institutional Yield Management

rewrite this title Flare Network Partners With Everything Blockchain To Integrate XRPFi For Institutional Yield Management

August 29, 2025
rewrite this title and make it good for SEO 3 Underrated Altcoins That Could Dominate the 2025 Crypto Altseason

rewrite this title and make it good for SEO 3 Underrated Altcoins That Could Dominate the 2025 Crypto Altseason

August 29, 2025
Your Kid Is Being A Brat

Your Kid Is Being A Brat

August 29, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.