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U.S. Authorities Dismantle the Operations of Hive Ransomware Group

Mushu Butt by Mushu Butt
January 27, 2023 - 5:50 am
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The Justice Department made the announcement today that it launched a disruption campaign against the Hive ransomware group. This group is responsible for targeting over 1,500 victims in over 80 countries around the world, including hospitals, educational institutions, financial firms, and critical infrastructure. Since June 2021, the group has received ransom payments totaling over $100 million in cryptocurrencies.

Since late July 2022, the FBI has been able to break into the computer networks used by Hive, seize its decryption keys, and offer them to victims all around the world. This has allowed victims to avoid having to pay the ransom of $130 million that was asked of them. Since breaching the network of Hive in July 2022, the FBI has distributed over 300 decryption keys to victims of Hive who were under attack.

In addition, the FBI gave out more than 1,000 additional decryption keys to former Hive victims. Finally, the department announced today that it has taken control of the servers and websites that Hive employs to communicate with its members. This will prevent Hive from being able to attack and extort victims in the future.

The department worked in conjunction with German law enforcement and the Netherlands National High Tech Crime Unit to accomplish this. Ransomware-as-a-service (RaaS) was the business model that Hive utilized. This model included administrators, who are also frequently referred to as developers and affiliates.

RaaS is an example of a subscription-based business model in which the creators or administrators of ransomware first produce a ransomware strain, then design an intuitive user interface with which to operate the strain, and last recruit affiliates to employ the ransomware against victims. Affiliates chose targets, deployed this pre-made harmful software to attack victims, and then received a percentage of each successful ransom payment.

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Mushu Butt

Mushu Butt

Mushu Butt is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media.In addition to being a skilled content writer, Mushu is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushu enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for Blockchainreporter.

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