74% of Ransomware Revenue Goes To Russia-Linked Hackers (bbc.com) 51
New analysis suggests that 74% of all money made through ransomware attacks in 2021 went to Russia-linked hackers. The BBC reports: Researchers say more than $400 million worth of crypto-currency payments went to groups "highly likely to be affiliated with Russia." Russia has denied accusations that it is harboring cyber-criminals. Researchers also claim "a huge amount of crypto-currency-based money laundering" goes through Russian crypto-companies. Chainalysis, which carried out the research, said it was able to follow the flow of money to and from the digital wallets of known hacking groups using public blockchain transaction records.
In the Chainalysis report, it's highlighted that 9.9% of all known ransomware revenue is going to Evil Corp - an alleged cyber-crime group which the US has issued sanctions and indictments against, but who are operating in Russia with apparent impunity. A BBC investigation in November found that Igor Turashev, one of the accused leaders of Evil Corp, is operating several businesses out of Moscow City's Federation Tower. The tower is one of Russia's most prestigious addresses, home to prominent businesses and with apartments going for millions of dollars. Chainalysis claims several crypto-currency companies based in the tower were used by hackers to launder illicit funds, turning crypto-currency from digital wallet addresses to mainstream money. "In any given quarter, the illicit and risky addresses account for between 29% and 48% of all funds received by Moscow City crypto-currency businesses," researchers allege.
In the Chainalysis report, it's highlighted that 9.9% of all known ransomware revenue is going to Evil Corp - an alleged cyber-crime group which the US has issued sanctions and indictments against, but who are operating in Russia with apparent impunity. A BBC investigation in November found that Igor Turashev, one of the accused leaders of Evil Corp, is operating several businesses out of Moscow City's Federation Tower. The tower is one of Russia's most prestigious addresses, home to prominent businesses and with apartments going for millions of dollars. Chainalysis claims several crypto-currency companies based in the tower were used by hackers to launder illicit funds, turning crypto-currency from digital wallet addresses to mainstream money. "In any given quarter, the illicit and risky addresses account for between 29% and 48% of all funds received by Moscow City crypto-currency businesses," researchers allege.
Re: (Score:2)
Evil Corp (Score:2)
With a name like that, I just have to ask... Are they hiring?
Re: Evil Corp (Score:2)
Re:Old trope is old (Score:5, Insightful)
Russia wants their empire back.
Just like the CCCP wanted the tsarist empire back.
See also: History
Re: (Score:2)
unfortunately if we've learned anything, much of history is falsified.
we should look at the information we have available to us NOW - like what wikileaks revealed about those involved in the US administration that performed the soft coup in Ukraine and their failed coups in Syria and Venezuela.
We're seeing Russia respond to US overreach in a way the US would react if China or Russia subverted Mexico or Canada.
Or Cuba? (Score:2)
Re: (Score:2)
So what's Evil Corp like to work for, Ivan? The bennies good?
Re: (Score:2)
Re: (Score:1)
Re: (Score:2)
>like what wikileaks revealed about those involved in the US administration that performed the soft coup in Ukraine
I'll see your purported soft coup in Ukraine and raise you the Crimea.
>We're seeing Russia respond to US overreach
Oh bullshit.
There is nothing about US overreach to having troops on three of Ukraine's borders. This isn't responding to anything. At best it is to put diplomatic pressure on the West to accede to demands to interfere with other countries sovereignty. No one is going to att
Re: (Score:3)
Re: (Score:1)
uh....
you've watched too much news, and haven't had enough industry experience. doubt i'll change your mind with facts.
"...doubt i'll change your mind with facts." (Score:2)
Re: (Score:2)
Re: (Score:2)
Re: (Score:3)
A few years after the wall fell the kleptocrats had stolen pretty much everything of value, now the country is a thugocracy. Sort of like North Korea, but with oil.
Re: (Score:1)
See how easy making claims is. When you move on to something other than making claims, so will I.
Re: (Score:2)
Re: (Score:2)
We eagerly await your conflicting report that shows that this money is going somewhere other than Russia.
Barring that, we eagerly await your gaining the self-understanding to shut the fuck up
P.S. Suck my Polonium and Novichok
Where is the NSA? (Score:1)
This is the sort of thing the NSA should be involved in thwarting.
However, they are too busy spying on American citizens to get involved.
Jeeze! What passes for evidence these days (Score:1)
"highly likely to be affiliated with Russia."
Good ol' definite maybe works every time
The war mongering around here is so sad
If you wanna beat the Russians, send them some unruly passengers and other karens
Re: (Score:1)
Slashdot is an 'influential' site.
This means there will be effort here to peddle the official narratives by people employed to do so.
Just wondering how long we'll still be allowed to comment here.
Re: (Score:2)
Not going to waste time asking the A/C - but since you seem to be in agreement with him, I figured you would know what "Jeeze" is?
Just to say, foreign intelligence doesn't provide certainties; even the best analysis of blockchain usage and distribution can only provide varying levels of confidence in conclusions, not certainty.
Now, by all means, comment away. Those of us who did more than survive the school experience want to read what you have to say. It really
So what is Jeeze? (Score:2)
Re: (Score:1)
Just wondering how long we'll still be allowed to comment here.
As long as Section 230 holds out. I don't see the current owners of Slashdot turning this place into a free-for-all (in its present form, Slashdot is an editorial content aggregator, so common carrier immunity likely wouldn't apply), and I doubt they'd want to face potential legal liability for all the crap in the comments sections.
Section 230 was exactly what gave the message "Comments owned by the poster", which appears at the bottom of the page, actual legal backing. Prior to Section 230, you could say
Re: (Score:2)
I just don't get this. If history has shown us anything, invading Russia is just a terrible idea. Large population, vast terrain, and at least currently, enough armaments to make it almost impossible for the US to actually "win" a ground war in Russia. I even have my doubts that a combined Chinese-US ground war would result in anything more than losses neither invader would tolerate along with totally collapsed global economies.
If anything, a normal Russian state would be hugely beneficial to Russians an
Re: (Score:3)
If history has shown us anything, invading Russia is just a terrible idea.
Yeah, I guess it's a good thing that NO ONE IS INVADING RUSSIA. Unfortunately they are invading their neighbors...
Re: (Score:2)
That doesn't make any sense. Even if Ukraine went full-on closed border to Russia, there's still land transit through Belarus or ocean transit via the Black Sea.
While you could make some interesting economic conspiracies around Russia and the west, it's hard to see more open economic engagement with the West as a bad thing for anyone, whether its Russian industry, the Russian consumer or general European economies.
So, do you recommend FOX, OANN or Newsmax? (Score:2)
Re: (Score:2)
Simple solution (Score:2)
One well placed EMP nearly eliminates the ransomware scourge.
I said it was simple. I didn't say it was smart or moral.
For that kind of punch, you're gonna need a nukie. (Score:2)
Re: (Score:2)
It also wouldn't work.
Oh, I dunno. (Score:2)
Oh, wait. Somebody's definitely gonna notice that. Never mind.
Re: (Score:2)
If it's just that one building, maybe no one would complain.
Re: (Score:2)
Uninventing cryptocurrency would put a big crimp in ransomware, too. It's a damn shame there's no way to shove that genie back in the bottle.
When bitcoin is outlawed, only outlaws... (Score:2)
Or something like that.
Re: (Score:2)
This actually doesn't seem to be an awful suggestion. In fact, we could do one better - just introduce a USD-to-crypto tariff. Hell, it would probably even be the only US tariff ever introduced that actually had the desired net effect.
Making "crypto illegal" is a bad narrative that the news cycle will snap up for clicks, but making it unfathomably costly for US businesses to ever pay huge ransomware bills via crypto will kill the market. The only reason it exists is because it currently produces results. If
Re: (Score:2)
Re: (Score:2)
I can think of several ways to kill off cryptocurrency. All it needs is a government willing to spend some money and perhaps be flexible with their laws. The first thing to do is ban crypto-currency exchanges domestically, and then ban the financial industry from doing business with exchanges outside of the country. That'll make the currency so inconvenient to use, a lot of potential users would give up - no way to turn their crypto into things they can use. Then, if you don't mind a bit of diplomatic fallo
Final solution (Score:2)
Why don't you just say what you really mean?