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In 2023, a report conducted by TRM Labs indicates a substantial surge in <a href="https://optimisus.com/market/market-news/russia-will-enforce-strict-crypto-rules-starting-on-september-1/" rel="noopener noreferrer nofollow">Russia's participation</a> in illicit cryptocurrency operations. Russian-speaking cyber collectives accounted for almost 70% of the total earnings from ransomware, illicitly acquiring nearly $500 million.  
ALPHV/BlackCat and Lockbit were prominent ransomware operators, generating more than $320 million in revenue. The research also emphasizes the growing utilization of cryptocurrencies as a means to evade sanctions, particularly in relation to the Russia-Ukraine conflict.  
US authorities have consistently prohibited the use of Bitcoin and Ethereum addresses to evade sanctions, underscoring the necessity for a worldwide endeavor to confront and oversee these illicit activities.  
North Korea continues to be a prominent participant in illicit activities involving cryptocurrencies, as hackers managed to pilfer a staggering $1 billion worth of Bitcoin in 2023.  
The analysis highlights the pressing necessity for global collaboration in tackling the issues associated with the illicit utilization of cryptocurrencies. There is a need for more rigorous supervision due to the clustering of unlawful activity in specific areas and markets. Law enforcement organizations should enhance their strategies to adapt to the evolving tactics of cybercriminals.  
The research provides valuable information on hacker groups that mostly communicate in Russian and emphasizes the significance of platforms such as Garantex in the context of combating cybercrime.  
The continued existence of these groups despite punishments highlights deficiencies in the current enforcement measures. An imperative is to establish a comprehensive global response to address these challenges, which necessitates the implementation of more stringent rules, enhanced international cooperation, and the utilization of cutting-edge technology.  
Increasing public knowledge and advocating for the adoption of effective security measures might mitigate the detrimental effects of cybercrime on worldwide financial systems.  
Additionally, the Russian parliament has recently passed a law allowing the use of&nbsp;<a href="https://optimisus.com/market/market-news/russia-will-enforce-strict-crypto-rules-starting-on-september-1/" rel="noopener noreferrer nofollow">crypto for international trade</a>&nbsp;and legalizing crypto mining to counteract the effects of Western sanctions and regulatory constraints on Russian banks.  
 
The post <a href="https://optimisus.com/market/market-news/russian-speaking-hackers-steal-nearly-70-of-all-illicit-crypto-earnings-in-2023/" rel="noopener noreferrer nofollow">Russian-speaking hackers steal nearly 70% of crypto earnings in 2023</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

Russian-speaking hackers steal nearly 70% of crypto earnings in 2023

Optimisus

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