Following a collaborative international law enforcement investigation, two ransomware syndicates were apprehended in Ukraine. On Sept. 28, police investigators from Ukraine, the United States, and France arrested a 25-year-old hacker in Kyiv to put an end to a large cybercrime incident that cost more than $150 million worldwide.
According to authorities, the suspect allegedly sought a ransom in turn of the victims' stolen information as of Oct. 4. The hacker is thought to have obtained this information by sending malware-infected phishing emails to workers of the organizations he targeted.
As per the authorities, the cybercriminal, who hadn't been recognized, attacked over 100 enterprises in Europe and the United States, including world-famous energy and tourism companies. Europol noted that the hacker had a co-conspirator who assisted him in withdrawing funds from victims.
Law enforcement investigators discovered and seized $375,000 in cash, two luxury automobiles, computers, and smartphones in the suspect's Scandinavian-styled Kyiv flat.
Since virtual transactions are difficult to track, hackers frequently demand ransom in cryptocurrencies. Following inspections of the criminal's flat, authorities discovered that the Ukrainian cyber-criminal had over $1.3 million in cryptocurrencies in his possession. According to the authorities, he might face up to twelve years behind bars for breaching cybercrime and money laundering rules.
"As a result, computer equipment, mobile phones, vehicles, and more than 360 thousand dollars in cash were seized. In addition, $1.3 million was blocked on the attacker's cryptocurrencies," the police said.
Hackers from Ukraine and Russia rarely attack systems and networks in their nations, instead preferring to infect computers in Western Europe and the United States. Ukrainian cybercriminals are typically young, between the ages of 15 and 30, with no criminal history as well as a strong command of computer technology and mathematics. Their monthly income starts at $5,000, which is significantly higher than the $2,000 that tech experts in Ukraine might earn.
Authorities all across the world are attempting to reverse the trend of ransomware assaults, which have become a lucrative business in recent years. Hackers, who are mostly from Eastern Europe, attack international companies, universities, government agencies, and even crucial infrastructures such as hospitals and gas stations.
