U.S. Gives $10 Million Reward for Data on Hive Ransomware

America State Division has just lately revealed a $10 million reward for any worthwhile data that might result in the detection or whereabouts of the principal members of the Hive ransomware gang.

Following that, the State Division has introduced a $5 million reward for offering any data that results in the arrest or conviction of the suspected cybercriminals.

Over a 12 months in the past, the FBI collaborated with worldwide legislation enforcement to conduct a seven-month covert surveillance operation that resulted within the seizure of the gang’s servers and web sites. 

“Starting in late July 2022, the FBI penetrated Hive’s pc networks, obtained its decryption keys and provided them to victims worldwide, stopping victims from having to pay as much as $130 million in ransoms demanded,” the State Division mentioned. 

Because the begin of 2021, Hive and its affiliated teams have focused assaults towards over 1,500 organizations throughout 80 international locations. 

Hive Ransomware Assaults

These assaults have resulted within the theft of over $100 million in funds. The victims of those assaults embrace college districts, monetary establishments, and significant infrastructure suppliers.

For just a few months, the FBI was in a position to infiltrate Hive’s pc techniques. Consequently, they prevented victims from making ransom funds amounting to $130 million.

Regardless of the persistent efforts of the U.S. authorities to fight the menace of ransomware, cybercriminals have succeeded in extorting an unprecedented quantity of $1.1 billion as ransom funds from their victims.

The Hive operation assaults have been a current concern for the Federal Bureau of Investigation (FBI). In response, the FBI launched a flash alert in April 2021 that contained technical particulars and indicators of compromise related to the gang’s operations.

The Hive ransomware group has been working since June 2021 and presents a Ransomware-as-a-Service (RaaS) referred to as “Hive.” The group makes use of a double-extortion tactic, the place it steals delicate information from its victims after which threatens to publish it on its leak web site, HiveLeaks, along with demanding a ransom fee.

Chainalysis, a blockchain analytics agency, has launched a report revealing that Hive, a ransomware pressure, ranks among the many prime 10 most profitable ransomware operations in income generated in 2021.

“At this time’s announcement enhances the Division of Justice announcement that, with Europol, the German and Dutch authorities, and america Secret Service, it had seized management of Hive’s servers and web sites, thereby disrupting Hive’s skill to assault additional and extort victims.”

“We are going to proceed to work with allies and companions to disrupt and deter ransomware actors that threaten the spine of our economies and significant infrastructure.”

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