Tag: hive
Russian Authorities Arrest FBI’s Most Wanted Hacker
The FBI’s most wanted hacker, Mikhail Pavlovich Matveev, dubbed the “Moriarty” of cybercrime, has finally been arrested by Russian authorities. Described by the FBI as a “prolific” cybercriminal, Matveev has had a $10 million bounty on his head for any information leading to his arrest since 2023. The arrest is a turning point on the part of the Russian authorities, as cybercriminals have long seen Russia as a safe haven. According to intelligence sources, this could either represent an attempt to try and legitimize the Russian economy or an indication that the state is taking back control of cyber-attacks on Western economies.
Ransomware payments top US$1 billion in 2023
Last year, ransomware payments topped US$1 billion for the first time. According to a report from blockchain analyst firm Chainalysis, in 2023 ransomware gangs reached “an unprecedented milestone” in extorted cryptocurrency payments. “This number does not capture the economic impact of productivity loss and repair costs associated with attacks. This is evident in cases like the ALPHV-BlackCat and Scattered Spider’s bold targeting of MGM resorts. While MGM did not pay the ransom, it estimates damages cost the business over US$100 million,” warns the report.