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The Hacker News - Cybersecurity News and Analysis: Clop Ransomware

Clop Gang Partners Laundered $500 Million in Ransomware Payments

Clop Gang Partners Laundered $500 Million in Ransomware Payments

June 24, 2021Ravie Lakshmanan
The cybercrime ring that was apprehended last week in connection with Clop (aka Cl0p) ransomware attacks against dozens of companies in the last few months helped launder money totaling $500 million for several malicious actors through a plethora of illegal activities. "The group — also known as FANCYCAT — has been running multiple criminal activities: distributing cyber attacks; operating a high-risk exchanger; and laundering money from dark web operations and high-profile cyber attacks such as Cl0p and Petya ransomware," popular cryptocurrency exchange Binance  said  Thursday. On June 16, the Ukraine Cyber Police  nabbed six individuals  in the city of Kyiv, describing the arrests as resulting from an international operation involving law enforcement authorities from Korea, the U.S., and Interpol. While the bust was seen as a major blow to the operations of the Clop gang, the hackers published earlier this week a fresh batch of confidential employee records stolen from
Ukraine Police Arrest Cyber Criminals Behind Clop Ransomware Attacks

Ukraine Police Arrest Cyber Criminals Behind Clop Ransomware Attacks

June 16, 2021Ravie Lakshmanan
Ukrainian law enforcement officials on Wednesday announced the arrest of the  Clop ransomware  gang, adding it disrupted the infrastructure employed in attacks targeting victims worldwide since at least 2019. As part of an international operation between the National Police of Ukraine and authorities from Interpol, Korea, and the U.S., six defendants have been accused of running a double extortion scheme wherein victims refusing to pay a ransom were threatened with the leak of sensitive financial, customer, or personal data stolen from them prior to encrypting the files. The ransomware attacks amount to $500 million in monetary damages, the National Police  said , noting that "law enforcement has managed to shut down the infrastructure from which the virus spreads and block channels for legalizing criminally acquired cryptocurrencies." Police officials are said to have conducted 21 searches in the Ukrainian capital of Kyiv, including the homes of the defendants, resulti
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