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Ukrainian Police Seize $1.2 Million Worth of Crypto from Members of Ransomware Gang

Mon, 10/04/2021 - 15:52
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Alex Dovbnya
The hacker who is allegedly responsible for spreading ransomware is 25 years old
Ukrainian Police Seize $1.2 Million Worth of Crypto from Members of Ransomware Gang
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Ukraine's police nabbed two ransomware operators in late September, according to a press release shared by Europol on Oct. 4.

One of them is a 25-year-old hacker who deployed malicious software on victims' computers, while the other was responsible for laundering ill-gotten money.

The arrest was possible because of a large-scale investigation operation conducted by French, American and Ukrainian law enforcement agencies.

While there is some speculation that the arrested individuals may be part of the infamous REvil gang, Europol did not release the names of the ransomware enterprises involved. The press release mentions that they were responsible for a slew of high-profile attacks against European and American companies.

Over the course of seven property searches, the authorities seized $1.3 million worth of cryptocurrencies and bags of cash with $375,000 and luxury vehicles.

Last month, the Biden administration blacklisted exchange Suex for allowing ransomware gangsters to launder funds. This was the very first time the U.S. imposed sanctions on a crypto trading platform.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.