Ryuk Ransomware-Related Money Laundering Committed by Russian Hacker - BollyInside
2023-02-15 12:39 (EST) - Patrick Huston
According to The Hacker News, the U.S. Department of Justice has revealed that Russian hacker Denis Mihaqlovic Dubnikov has entered a guilty plea for laundering Ryuk ransomware attacks profits against organisations in the U.S. and other countries from August 2018 to August 2021.
The Justice Department claims that Dubnikov and his accomplices used a variety of criminal tactics to cover up at least $150 million in laundered Ryuk ransomware payments.
The main targets of Wizard Spider’s Ryuk ransomware assaults include governmental organisations, healthcare providers, educational institutions, technology corporations, and manufacturing businesses.
According to Chainalysis, Dubnikov co-founded the Russian cryptocurrency exchange Eggchange, which reported receiving more than $34 million in bitcoin from illegal operations from 2019 to 2021, including darknet markets, scams, and ransomware operators. Federation Tower East, which is home to many cryptocurrency exchanges involved in ransomware-related money laundering activities, is where Dubnikov’s Eggchange is situated.
Coyote Crypto and Eggchange, whose headquarters are in Federation Tower East (also known as Vostok), a supertall skyscraper known to house multiple cryptocurrency enterprises with ties to money laundering related with ransomware activities, are both founded by Dubnikov.
According to Chainalysis, between 2019 and 2021, operators of ransomware, frauds, and darknet markets gave Eggchange approximately $34 million in bitcoin. The threat actor known as Wizard Spider is responsible for Ryuk, which initially appeared on the threat landscape in 2018 and has since infected manufacturing, academic, healthcare, and technology enterprises across the globe.
