Do government sanctions against ransomware groups work?

Earlier this year, the U.S. government imposed sanctions against Russian national Mikhail Matveev, an FBI most-wanted cybercriminal, who authorities accuse of being a “prolific ransomware affiliate” involved in cyberattacks in the United States and overseas. Authorities say Matveev played a major role in the development and deployment of the Hive, LockBit and Babuk ransomware variants, and is said to have ties to the notorious Conti hacking group. Mateev was allegedly involved in the high-profile ransomware attack on Costa Rica, which sought a $20 million ransom demand (and the overthrowing of the government), and claimed responsibility for a 2021 cyberattack on Washington D.C.’s police department.

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Source: TechCrunch