LockBit Developer Rostislav Panev Charged for Billions in Global Ransomware Damages
Dec 21, 2024
Ransomware / Cybercrime
A dual Russian and Israeli national has been charged in the United States for allegedly being the developer of the now-defunct LockBit ransomware-as-a-service (RaaS) operation since its inception in or around 2019 through at least February 2024. Rostislav Panev , 51, was arrested in Israel earlier this August and is currently awaiting extradition, the U.S. Department of Justice (DoJ) said in a statement. Based on fund transfers to a cryptocurrency wallet owned by Panev, he allegedly earned approximately $230,000 between June 2022 and February 2024. "Rostislav Panev for years built and maintained the digital weapons that enabled his LockBit co-conspirators to wreak havoc and cause billions of dollars in damage around the world," U.S. Attorney Philip R. Sellinger said . LockBit, which was one of the most prolific ransomware groups, had its infrastructure seized in February 2024 as part of an international law enforcement operation called Cronos. It gained notoriety for tar...