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US affords $15M for information on Conti ransomware

by SB Crypto Guru News
May 8, 2022
in Crypto Exchanges
Reading Time: 5 mins read
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The usDepartment of State set two separate bounties for info on the Conti ransomware organized crime group totaling $15 million.

Any info that helps establish or find the Conti group leaders will likely be awarded as much as $10 million. Moreover, $5 million will likely be awarded for any info that results in the arrest of people conspiring with the Conti group.

The rewards are provided beneath the Division of State’s Transnational Organized Crime Rewards Program (TOCRP) and could be claimed from any nation.

Ransomware assaults

Ransomware is a kind of malware that threatens to delete or publish personal info until a ransom is paid.

Total value received by ransomware attacks between the years 2016-2021 (via Chainalysis)
Complete worth obtained by ransomware assaults between the years 2016-2021 (by way of Chainalysis)

Ransomware assaults peaked in 2020 by reaching $692 million in complete worth, in line with Chainalysis. The full quantity paid in ransom remained over $600 million as of 2021. Nevertheless, the slight decline in confiscated complete worth doesn’t imply that the risk can also be degrading. 

The report states:

“Regardless of these numbers, anecdotal proof, plus the truth that ransomware income within the first half of 2021 exceeded that of the primary half of 2020, suggests to us that 2021 will ultimately be revealed to have been a good larger 12 months for ransomware.”

Top 10 ransomware revenue strains (via Chainalysis)
Prime 10 ransomware income strains (by way of Chainalysis)

The identical report breaks down the highest 10 ransomware strains by income, the place Conti takes the primary place by extorting a minimum of $180 million from its victims in 2021. 

Conti ransomware

It’s estimated that the Conti ransomware group has been energetic for over two years and has round 350 members. It was in a position to accumulate over $2.7 billion in ransom since 2020.

In keeping with info leaked from Conti, the group makes use of proprietary in-house software program that’s a lot quicker than different most ransomware packages. All variations of Microsoft Home windows are susceptible to their assaults. 

On 21 April 2022, the group attacked the Authorities of Costa Rica and focused a minimum of 5 authorities companies, together with the Ministries of Finance, Science, and Know-how. Conti demanded a $10 million ransom and began leaking sure info for not receiving it. 

? #Conti‘s newest replace on the cyberattack in opposition to Costa Rica’s Ministerio de Hacienda ??…

“If the ministry can not clarify to its tax payers what’s going on, we’ll do it 1) we have now penetrated their important infrastructure, gained entry to about 800 servers, …” ? pic.twitter.com/wp2Y8UeGGN

— BetterCyber (@_bettercyber_) April 20, 2022

Specialists from Cyberint, who analyzed Conti debunked beforehand confiscated in-group messages written in Russian and found that the group adopted a well-managed organizational construction.

Conti's organizational structure (via Cyberint)
Conti’s organizational construction (by way of Cyberint)

The messages additionally confirmed that the group had bodily workplaces in Russia, ran efficiency evaluations, and even named an “worker of the month.”

Lotem Finkelstein, the pinnacle of risk intelligence at Test Level Software program Applied sciences, acknowledged:

“Our … assumption is that such an enormous group, with bodily workplaces and large income wouldn’t be capable of act in Russia with out the total approval, and even some cooperation, with Russian intelligence providers.”

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