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U.S. Treasury’s OFAC Bans Crypto Addresses Tied to LockBit Ransomware Group From Monetary System

by SB Crypto Guru News
February 21, 2024
in Crypto Updates
Reading Time: 1 min read
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“The LockBit ransomware variant, like different main ransomware variants, operates within the ‘ransomware-as-a-service’ (RaaS) mannequin, during which directors, additionally referred to as builders, design the ransomware, recruit different members — referred to as associates — to deploy it, and preserve a web-based software program dashboard referred to as a ‘management panel’ to offer the associates with the instruments essential to deploy LockBit,” the DOJ press launch mentioned.



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