US Justice Department Extradites Alleged Dutch Crypto Money Launderer
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Crypto Money Launderer From The Netherlands
Dubnikov and other suspected plan participants are accused of disguising the source of the attack-related cash by laundering them through numerous domestic and foreign activities. Ryuk, a ransomware software, made its debut in 2018 to break into private networks and take control of several computers. Once inside, Ryuk locks down several machines by encrypting local files before requesting payment in cryptocurrency, typically Bitcoin, to resume operations.
Ryuk and several other well-known ransomware attacks have been used to demand money from government agencies, healthcare organizations, hospitals, and other companies. Colonial Pipeline was compelled to suspend operations and pay more than $4 million in bitcoin in May of last year due to an attack that sparked concerns about fuel scarcity across the US.
Weeks later, JBS Holding, the largest meat producer in the world by total sales, paid $11 million in bitcoin to get around ransomware that was affecting its supply chains and business. Earlier this year, a $625 million hack of the Axie Infinity-connected Ronin Network bridge has been linked to Lazarus Group operations in North Korea, Darkside operations in Eastern Europe, and other groups.