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.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.