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FBI To Crackdown Ransomware Network “Hive”

FBI To Crackdown Ransomware Network "Hive" 10

The FBI agency is working strictly against a very big Ransomware network since late 2021. 

Ransomware is still a common type of attack, which can be seen in unsafe internet browsing on PCs. Actors behind every Ransomware attack usually demand to receive payment in private Crypto assets, so that no one can trace their transactions. It is a bitter truth that no one can stop the transactions of Crypto assets, whether they are private crypto assets or public crypto assets but government agencies can easily prohibit the bad actors to stop such attacks. 

Recently the United States Federal Bureau of Investigation (FBI) released a statement on its mission, which has been working to fight against cybercrimes for a long time. 

The latest announcement noted that the FBI agent is working to takedown “Hive network”. 

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Hive network is a group of Ransomware attackers, which is active in the states of Europe & North America. 

A report from a Crypto analytic firm noted that Ransomware attackers saw a 40% downfall in their revenue because many ransomware attack victims denied paying money for data recovery. 

In the last several months, the FBI reached out to the victims of ransomware attacks and convinced them not to pay any amount of funds to any ransomware attacker. In this way, FBI agency stopped $130 million funds transactions to the ransomware attackers. 

In the last year, Ransomware groups secured $100 million from 1,500 people. So FBI managed to reduce a huge amount of transactions to the Ransomware attackers. 

According to FBI Director Christopher Wray, if victims of Cybercrimes can contact the corresponding agencies to get help then it will be easy for the authorities to fight against the bad actors. FBI director noted that only 20% of victims of Hive asked for help. 

Read also: CZ believes Crypto & blockchain technology will be a common thing in future finance

FBI To Crackdown Ransomware Network “Hive”

 

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