U.S. sanctions take aim at Chinese company said to aid hackers’ massive botnet

A joint takedown operation last year sought to disrupt Flax Typhoon’s compromise of hundreds of thousands of devices.

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Appeals court tosses sanctions on Tornado Cash crypto mixer

The mixer was sanctioned after a North Korea hacking group used the software to launder more than $455 million.

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Iranian nationals charged with hacking U.S. companies, Treasury and State departments

$10 million rewards offered for information regarding the accused, who are allegedly connected to a pair of IRGC front companies.

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Biden’s budget proposal seeks funding boost for cybersecurity

The president’s budget is unlikely to be passed but offers insights on the administration’s priorities ahead of this fall’s election.

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Cryptocurrency ‘mixers’ see record transactions from sanctioned actors

Mixers aren’t solely used by criminals, but they are extremely popular with them.

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FBI, CISA, Treasury: North Korean hackers taking aim at health care with Maui ransomware

The ransomware has previously received little public scrutiny.

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Russia’s war on Ukraine making life difficult for Russian cybercriminals

Flashpoint says international sanctions and a string of law enforcement actions are causing trouble for criminals to cash out.

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Major cyber incident reporting requirement, CISA budget hike on precipice of becoming law

The incident reporting legislation, long in the works, also comes with nearly $2.6 billion for the agency for fiscal 2022.

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State Department offers $10 million reward for help identifying DarkSide ringleaders

The State Department on Thursday announced a $10 million bounty for information on the location of leaders of the DarkSide ransomware gang, and $5 million for information that leads to the arrest or conviction of any affiliates of the group. DarkSide in May hacked fuel provider Colonial Pipeline, forcing the company to shut down its operations, resulting in panic-buying at gas stations in some areas of the U.S. ahead of Memorial Day weekend. The Justice Department retrieved $2.3 million of the nearly $5 million ransom payment Colonial Pipeline made to the Russian-speaking hackers. “In offering this reward, the United States demonstrates its commitment to protecting ransomware victims around the world from exploitation by cybercriminals,” State Department spokesperson Ned Price said in a statement. “The United States looks to nations who harbor ransomware criminals that are willing to bring justice for those victim businesses and organizations affected by ransomware.” Only the […]

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2021 ransomware transactions have already exceed 2020 numbers, Treasury Department says

As of June, financial institutions have already reported 635 suspicious ransomware-related activities to the Financial Crimes Enforcement Network, according to a report out Friday from the Treasury Department — a 30% increase from all reported activity in 2020. The report also found that the cost of ransomware payments is climbing. The total value of the 2021 reports was $590 million — or a $66.4 million monthly average — compared to $416 million for all of 2020. The analysis, which is the first issued under the updated FinCEN threat trend reporting requirements enacted into law earlier this year, underscores both concerns with the growing cost of ransomware as well as the role of virtual currencies in how criminals extort and launder funds. The Treasury Department last month announced its first sanctions against a cryptocurrency exchange for facilitating transactions involving money gained from ransomware. The report, as well as guidance issued Friday […]

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