'The 590 billion yen worth of Bitcoin transactions are related to ransomware,' the US Treasury reports

The Financial Crimes Enforcement Department (FinCEN) of the U.S. Treasury Department, which specializes in money laundering-related investigations, said, 'About $ 5.2 billion (¥ 590 billion) of Bitcoin transactions reported to be suspicious in the past 10 years has been ransomware. It was related. '

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US links $ 5.2 billion worth of Bitcoin transactions to ransomware

US Treasury said it tied $ 5.2 billion in BTC transactions to ransomware payments --The Record by Recorded Future

According to a new report released by FinCEN, it was reported as 'suspicious activity' by US financial institutions during the period of about 10 and a half years from January 1, 2011 to June 30, 2021. The total number of transactions reached 2,184. And when FinCEN analyzed these transactions, 177 wallets were identified.

A blockchain analysis of the transactions associated with the 177 wallets revealed that Bitcoin transactions suspected of being involved in ransomware payments totaled approximately $ 5.2 billion. These damages average $ 66.4 million per month and median $ 45 million.

FinCEN also mentions ransomware activation. The number of suspicious activities reported in the first half of 2021 was 635, which was significantly higher than the total number of reports in 2020 of 487 at the end of the first half, and the total damage was 100 million per month in the first half of 2021. It is showing an increasing trend of 2.3 million dollars (about 117 billion yen).

The most violent ransomware in the first half of 2021 was REvil (Sodinokibi), Conti, DarkSide, Avaddon and Phobos. In addition, for money laundering using ransomware, 'use highly anonymous crypto assets such as Monero', 'avoid reusing the same wallet to avoid tracking transactions by security companies', 'traceable' Sophistication of methods such as 'using chain hopping technology to convert crypto assets into difficult-to-track privacy coins' and 'withdrawing at a centralized exchange' was seen.

The Biden administration has embarked on strengthening measures against ransomware, and recently issued a joint statement with 30 countries such as Japan and Europe. The US Treasury has also issued an official statement stating that the government as a whole will continue its campaign against ransomware, revealing that it will impose sanctions on crypto exchanges that support ransomware transactions.

Ransom-demanding cyberattack, 30 countries joint statement with China and Russia in mind 'Security threat': International: News: Yomiuri Shimbun Online

in Security, Posted by darkhorse_log