U.S Authorities Charge Russian National for $200M Ransomware Exploits

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Mikhail Matveev, a member of Lockbit, Babuk, and Hive groups, used different aliases while communicating online, as per the DOJ.

US prosecutors have accused a Russian individual of participating in multiple ransomware schemes, resulting in approximately $200 million in proceeds, primarily in cryptocurrency. These attacks targeted various institutions, including hospitals, schools, and even police stations.

Mikhail Matveev, a member of Lockbit, Babuk, and Hive groups, collected around $200 million from victims after initially demanding over $400 million, as per the Department of Justice. Matveev used different names while communicating with others online.

Also Read This: US Sanctions Watchdog Claims Russia-Linked Crypto Wallet Processed $5 Million

Confidential Data at Risk

Mateev has been accused of involvement in the cyberattacks on the Metropolitan Police Department in Washington, DC, in April 2021, and a non-profit behavioral healthcare organization in New Jersey in May 2022. These attacks utilized the Babuk ransomware.

During the previous incident, the criminal and his associates threatened to expose sensitive information while demanding money. Since December 2020, the Babuk ransomware attackers have carried out 65 attacks worldwide, aiming to collect a total of $49 million in ransom payments.

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According to Bloomberg, cybersecurity writer Brian Krebs disclosed in January 2022 that Mateev had acknowledged his connections to the Darkside ransomware groups. In 2021, Darkside targeted the Colonial Pipeline with a ransomware attack, managing to extort 63.7 BTC from the company.

Since 2021, ransomware attacks have frequently involved the use of cryptocurrencies like Bitcoin. One reason for this is that Bitcoin payments cannot be traced by banks or governments like regular bank transactions. This allows hackers to demand money while maintaining their anonymity.

Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.


  • Asad

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