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How Cryptocurrency Turns to Cash in Russian Banks

Krebs on Security

A financial firm registered in Canada has emerged as the payment processor for dozens of Russian cryptocurrency exchanges and websites hawking cybercrime services aimed at Russian-speaking customers, new research finds. A machine-translated version of Flymoney, one of dozens of cryptocurrency exchanges apparently nested at Cryptomus.

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Russian Phobos ransomware operator faces cybercrime charges

Security Affairs

Russian Phobos ransomware operator Evgenii Ptitsyn, accused of managing attacks, was extradited from South Korea to the US to face cybercrime charges. Russian Phobos ransomware operator Evgenii Ptitsyn, suspected of playing a key role in the ransomware operations, was extradited from South Korea to the US to face cybercrime charges.

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Russia Charges Notorious Ransomware Developer in Rare Cybercrime Case

SecureWorld News

In a surprising move related to international cybercrime, Russian authorities have charged Mikhail Matveev, also known as "Wazawaka," with creating ransomware to extort commercial organizations, according to Russian media outlet RIA. His alleged exploits include: The 2021 attack on Washington, D.C.'s Multiple attacks on critical U.S.

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U.S. Offered $10M for Hacker Just Arrested by Russia

Krebs on Security

In January 2022, KrebsOnSecurity identified a Russian man named Mikhail Matveev as “ Wazawaka ,” a cybercriminal who was deeply involved in the formation and operation of multiple ransomware groups. government indicted Matveev as a top ransomware purveyor a year later, offering $10 million for information leading to his arrest.

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EDR-as-a-Service makes the headlines in the cybercrime landscape

Security Affairs

This approach reflects the as-a-service logic already prevalent in other areas of the cybercrime sector, significantly reducing the level of technical knowledge needed by those wishing to access this confidential data. UNDERGR OUND FORUMS AND PAYMENT DYNAMICS Payments are handled through mechanisms long rooted in underground trades.

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Ransomware Is Getting Ugly

Schneier on Security

Modern ransomware has two dimensions: pay to get your data back, and pay not to have your data dumped on the Internet. The Colonial Pipeline is another current high-profile ransomware victim. Ransomware has become the most profitable cybercrime business model, and until we solve those two problems, that’s not going to change.

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US DoJ charges five alleged members of the Scattered Spider cybercrime gang

Security Affairs

Justice Department charged five suspects linked to the Scattered Spider cybercrime gang with wire fraud conspiracy. Justice Department charged five alleged members of the cybercrime gang Scattered Spider (also known as UNC3944 , 0ktapus ) with conspiracy to commit wire fraud. ” reads the press release published by DoJ. .