Russian Man Faces Over 20 Years Behind Bars for Alleged Participation in $200 Million Global Ransomware Campaigns – Crypto News – Crypto News
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Russian Man Faces Over 20 Years Behind Bars for Alleged Participation in $200 Million Global Ransomware Campaigns Russian Man Faces Over 20 Years Behind Bars for Alleged Participation in $200 Million Global Ransomware Campaigns

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Russian Man Faces Over 20 Years Behind Bars for Alleged Participation in $200 Million Global Ransomware Campaigns – Crypto News

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3 years ago

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The US Department of Justice (DOJ) has indicted a Russian man who allegedly participated in deploying multiple ransomware schemes in the United States and around the world that netted up to $200 million.

Mikhail Pavlovich Matveev faces charges of conspiring to transmit ransom demands, conspiring to damage protected computers and intentionally damaging protected computers.

If convicted, Matveev could spend over 20 years behind bars.

Mateev and his conspirators allegedly accessed numerous vulnerable computer systems via hacking or illegally purchased credentials between 2020 and 2022, according to the DOJ.

After cracking into victims’ computers, they would deploy one of three ransomware variants, known as LockBit, Babuk and Hive, enabling the bad actors to steal and encrypt data.

The group would subsequently issue the victim a ransom note. Victims who failed to pay would often have their private data posted online.

Mateev’s ransomware deployments allegedly issued up to $400 million worth of ransom demands and secured up to $200 million in payments.

Philip R. Sellinger, the US Attorney for the District of New Jersey, says Mateev and his conspirators allegedly hit numerous public sector agencies, including law enforcement.

“From Russia and hiding behind multiple aliases, Matveev is alleged to have used these ransomware strains to encrypt and hold hostage for ransom the data of numerous victims, including hospitals, schools, nonprofits, and law enforcement agencies, like the Metropolitan Police Department in Washington , DC Thanks to the extraordinary investigative work of prosecutors from my office and our FBI partners, Matveev no longer hides in the shadows – we have publicly identified his criminal acts and charged him with multiple federal crimes.”

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