@saruyar025

Illicit use of crypto for ransomware, drug sales, and sanction evasion was rife in Russia in 2023 according to a report by TRM Labs on Thursday. Russian-speaking ransomware groups were responsible for at least 69% of all crypto proceeds from ransomware in 2023, which exceeded $500 million. Ransomware is a type of malware that prevents a user from accessing a device until a sum is paid. The two largest ransomware operators in 2023 were Lockbit and ALPHV/Black Cat, both Russian-speaking groups. However, in February the U.K. National Crime Agency said it had managed to take control of Lockbits services "compromising their entire criminal enterprise," according to an article at the time.

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