Biden

Bitcoin

Joe Biden

Million

Fine

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/how-does-the-us-combat-ransomware-criminals/" data-wpel-link="internal">How Does the US Combat Ransomware Criminals?</a> 
According to a statement by the Ministry of Justice on Wednesday, Ukrainian citizen Yaroslav Vasinskyi, also known as Rabotnik, was found guilty of organizing over 2,500 ransomware attacks and demanding more than $700 million in ransom. Rabotnik was sentenced to 13 years and seven months in prison. 
<h2 style="text-align: justify" id="us-president-joe-biden-had-pointed-to-the-struggle">US President Joe Biden Had Pointed to the Struggle</h2> 
The sentence was part of a broader operation following US President Joe Biden’s November 2021 promise for more effective intervention against ransomware groups. This commitment was a response to the hacking of Miami-based software provider Kaseya and the subsequent $70 million <a href="https://en.coin-turk.com/spot-bitcoin-etf-approval-what-to-expect-and-its-potential-impact-on-bitcoin-price/" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/bitcoin-btc-polkadot-dot-eos-ve-dogecoin-doge-teknik-analizi" data-wpel-link="internal">BTC</a>) ransom demand by REvil. In March 2022, at the request of the US, Russian authorities raided REvil and ended the group’s activities. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-346964 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/bitcoin-397.jpg" alt="" width="740" height="415"> 
Justice Minister Merrick B. Garland stated regarding the matter: 
<blockquote> 
 “As this sentence highlights, the Justice Department uses all available tools to identify cybercriminals through international cooperation, seize their illegal gains, and hold them accountable for their crimes.” 
</blockquote> 
<h2 style="text-align: justify" id="a-16-million-fine-was-imposed">A $16 Million Fine Was Imposed</h2> 
24-year-old Rabotnik, as a member of a group using the ransomware variant known as Sodinokibi or REvil, which demanded payment in cryptocurrency and used mixer services to “conceal their illicit gains,” was ordered to pay over $16 million in restitution. 
Rabotnik had previously been extradited from Poland to the US and then accepted an 11-count indictment accusing him of “conspiring to commit fraud and related activity in connection with computers, causing damage to protected computers, and conspiring to launder money.” 
The Justice Department, in 2023, seized approximately 40 Bitcoins valued at about $2.3 million in today’s market and $6.1 million in ransom payments traceable to other conspirators. 
Ransom demands particularly involving Bitcoin and cryptocurrencies are well-known. Additionally, scammers receiving Bitcoin and cryptocurrencies often immediately turn to mixer services. However, as seen in the Rabotnik case, catching criminals and imposing necessary penalties is crucial for the security of the cryptocurrency field going forward. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/how-does-the-us-combat-ransomware-criminals/" data-wpel-link="internal">How Does the US Combat Ransomware Criminals?</a></h5>

How Does the US Combat Ransomware Criminals?

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