FinCEN: “the volume of payments to extortionists in 2021 exceeded the indicators of the last year”

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The US Financial Crimes Agency reported that the total amount of payments in cryptocurrency to cybercriminals using ransomware was $ 5.2 billion.

Exchanges and other financial institutions have informed FinCEN of over $ 590 million in ransomware-related cryptocurrency transactions in the first half of 2021, according to a report from the U.S. Financial Crimes Agency (FinCEN). The volume of such payments exceeded the total indicator of 2020 – $ 416 million.

This is part of a broader campaign against ransomware, according to US Treasury spokesman Todd Conklin. In total, FinCEN recorded $ 5.2 billion in ransomware-related transactions. The report notes that cybercriminals frequently request ransoms in highly anonymous cryptocurrencies such as Monero.

“Ransomware attackers are criminals who find compliance gaps in the global virtual currency ecosystem. We help stop attacks, but we need partners in the private sector to help stop this illegal activity, ”said US Undersecretary of the Treasury Wally Adeyemo.

Ransomware was used in several high-profile attacks in 2021. So, the operator of the largest fuel pipeline system Colonial Pipeline paid the hackers a ransom of $ 5 million in cryptocurrency, and the world’s largest meat supplier JBS Holdings paid the attackers $ 11 million in bitcoins.

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