TLDR
- Evil Corp, a Russian-based cybercrime gang, is in the crosshairs of US, UK, and Australia sanctions.
- The organization is behind the theft of over $100 million from banks in more than 40 nations.
- Speculated connections found between Evil Corp and the LockBit ransomware group.
- There are rumored links between Evil Corp members and Russian state bodies, such as the FSB.
- Global police forces are ramping up operations against the gang.
The US, UK, and Australia have collaboratively sanctioned leading figures of the Russian cybercrime group known as Evil Corp.
This cybercrime syndicate is believed to be responsible for significant financial thefts and ransomware incidents, with losses exceeding $100 million, impacting financial institutions in over 40 countries.
Evil Corp is infamous for creating and spreading the Dridex malware, which infiltrates computers to steal login credentials.
The U.S. Department of Justice An indictment has been announced against an Evil Corp affiliate for deploying BitPaymer ransomware against US targets.
Recent findings from blockchain analysis firm Chainalysis Investigations indicate possible ties between Evil Corp and the LockBit cybercriminal outfit.
On-chain evidence shows ransomware linked to Evil Corp sharing deposit addresses with LockBit's cryptocurrency activities at centralized exchanges.
Such findings support earlier suspicions that Evil Corp might have rebranded via LockBit to avoid sanctions.
Chainalysis reported several Evil Corp members have familial connections, indicating strong internal bonds. Maksim Victorovich Yakubets, alleged leader, was noted by the US Treasury for purported links with Russia's FSB and his attempts to gain a license to handle top-secret data.
Key individuals like his father, Viktor Yakubets, and father-in-law, Eduard Benderskiy – a former FSB figure – imply possible ties with Russian state agencies.
Cybersecurity expert Corey Petty highlighted that digital currencies enable ransomware's effectiveness as payment mechanisms.
He pointed out that although blockchains are seen as highly transparent and permanent, thus attractive to cybercriminals, they also allow comprehensive tracking of financial flows.
Multinational police teams have synchronized efforts to dismantle Evil Corp’s network.
Various nations have witnessed arrests and asset seizures, including a suspected LockBit member captured by French authorities and Spain’s shutdowns of servers linked to LockBit's ransomware network.
Action against Evil Corp coincides with increased worries over cryptocurrencies being misused for illegal activities. New reports suggest illicit crypto transactions with a value up to $5.1 billion are traced back to one nation yearly, highlighting the rise of digital and crypto-related crimes. UK’s National Crime Agency In related news, the US Department of Justice seized domains connected to three crypto exchanges implicated in over $800 million of unauthorized transactions.
This was part of a broader initiative targeting Russian money laundering rings.
Chainalysis executives recently stated that Russia is at the forefront of using cryptocurrencies to circumvent sanctions, execute ransomware operations, and meddle in US political processes.
Valerie Kennedy from Chainalysis described Russia as the most vocal and potentially widespread actor in this realm.
The international community's focus on Evil Corp and similar cybercrime groups underscores the perpetual battles against digital financial crimes, stressing the need for unified law enforcement collaboration worldwide.
Blockonomi's Chief Editor and Kooc Media founder, based in the UK, supports open-source software, blockchain innovation, and a free and fair internet.
