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REvil ransomware gang neutralised by Russia in a first-of-its-kind operation

Ransomware is one of the biggest cyber threats as attacks have grown exponentially in the past few years.

“The organised criminal association (REvil) has ceased to exist, and the information infrastructure used for criminal purposes has been neutralised as a result of joint actions of the Federal Security Service (FSB) of Russia and the Ministry of Internal Affairs,” read the press release by the FSB. A joint operation was carried out in Moscow, St. Petersburg, Leningrad, and Lipetsk regions to suppress illegal activities, the FSB added. The coordinated search operation resulted in seizure of nearly 426 million rubles, which includes cryptocurrency, 600,000 dollars, and 500,000 euros from 25 different residences belonging to 14 REvil members. The authorities also recovered computer equipment, crypto wallets, and 20 premium cars, as per the press release. The Russian authorities said that the action was taken following an appeal by US authorities, who have been informed about the operation. The 14 members have been charged with committing crimes under Part 2 of Art. 187 "Illegal turnover of means of payment" of the Criminal Code of Russia, the agency said. Why this matters: It is the first time that the Russian authorities have taken action against one of several ransomware gangs based on its shores. It also demonstrates the value of global collaboration needed to tackle the threat of ransomware. Why was it important to neutralise REvil? REvil is the hacker group that's responsible for cyber attacks against JBS Meat and Colonial Pipeline, among others. The FSB said that it established the full composition of REvil and the involvement of its members in illegal activities.…

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I cover several beats such as Crypto, Telecom, and OTT at MediaNama. I can be found loitering at my local theatre when I am off work consuming movies by the dozen.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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