TRM Labs Analysis Shows Russian Ransomware Rakes In $500M In Crypto

12/13/2024 4:10:19 AM

(MENAFN- Investor Brand Network) Russia has emerged as a hub for
ransomware-related activities . According to TRM Labs' analysts, Russian-speaking ransomware groups were responsible for almost 70% of all Cryptocurrency earnings from ransomware attacks in 2023. This statistic reveals Russia's increasing involvement in these illegal activities, with the groups reportedly generating around $500 million in cryptocurrency profits.

According to a recent report from TRM Labs , two major Russian ransomware groups, ALPHV (also known as BlackCat) and Lockbit, collectively raked in at least $320 million from their attacks. The report points out that Lockbit, which is currently sanctioned, targeted prominent companies such as the...

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