Russian Man Faces 20+ Years in Prison for $200 Million Ransomware Scheme

Russian Man Faces 20+ Years in Prison for $200 Million Ransomware Scheme


The U.S. Department of Justice indicts a Russian man for allegedly deploying multiple ransomware schemes worldwide, netting up to $200 million in payments.

The Unit­ed States Depart­ment of Jus­tice (DOJ) has indict­ed a Russ­ian man who alleged­ly par­tic­i­pat­ed in deploy­ing numer­ous ran­somware schemes in the  Unit­ed States and around the globe that net­ted up to $200 mil­lion.

Mikhail Pavlovich Matveev faces charges of con­spir­ing to trans­mit ran­som demands, con­spir­ing to dam­age pro­tect­ed com­put­ers and inten­tion­al­ly dam­ag­ing pro­tect­ed com­put­ers.

If con­vict­ed, Matveev could spend over 20 years behind bars.

Mateev and his con­spir­a­tors alleged­ly accessed numer­ous vul­ner­a­ble com­put­er sys­tems via hack­ing or ille­gal­ly pur­chased cre­den­tials betwixt 2020 and 2022, reports by the DOJ.

After crack­ing into vic­tims’ com­put­ers, they would deploy one of 3 ran­somware vari­ants, known as Lock­Bit, Babuk and Hive, enabling the bad actors to steal and encrypt data.

READ NOW
Cryp­to Indus­try Faces New Obsta­cles with EU and Aus­tralia Col­lab­o­ra­tion

The team would fol­low­ing that issue the vic­tim a ran­som note. Vic­tims who failed to pay would often have their pri­vate data post­ed online.

Mateev’s ran­somware deploy­ments alleged­ly announced up to $400 Mil­lion worth of ran­som demands and secured up to $200 Mil­lion in pay­ments.

Philip R. Sell­inger, the Unit­ed States Attor­ney for the Dis­trict of New Jer­sey, reveals Mateev and his con­spir­a­tors alleged­ly hit numer­ous pub­lic sec­tor agen­cies, includ­ing law enforce­ment.

From Rus­sia and hid­ing behind numer­ous alias­es, Matveev is alleged to have used these ran­somware strains to encrypt and hold hostage for ran­som the data of numer­ous vic­tims, includ­ing hos­pi­tals, schools, non­prof­its, and law enforce­ment agen­cies, like the Met­ro­pol­i­tan Police Depart­ment in Wash­ing­ton, D.C. Thanks to the extra­or­di­nary inves­tiga­tive work of pros­e­cu­tors from my office and our FBI part­ners, Matveev no longer hides in the shad­ows – we have pub­licly iden­ti­fied his crim­i­nal acts and charged him with numer­ous fed­er­al crimes.”

READ NOW
Cryp­to Ads Get Warn­ing Labels in UK Reg­u­la­tions

Gen­er­at­ed Image: Mid­jour­ney

Source

Read Dis­claimer
This page is sim­ply meant to pro­vide infor­ma­tion. It does not con­sti­tute a direct offer to pur­chase or sell, a solic­i­ta­tion of an offer to buy or sell, or a sug­ges­tion or endorse­ment of any goods, ser­vices, or busi­ness­es. Lolacoin.org does not offer account­ing, tax, or legal advice. When using or rely­ing on any of the prod­ucts, ser­vices, or con­tent described in this arti­cle, nei­ther the firm nor the author is liable, direct­ly or indi­rect­ly, for any harm or loss that may result. Read more at Impor­tant Dis­claimers and at Risk Dis­claimers.




Follow us

Latest Crypto News

Share via
Share via
Send this to a friend