Russia has emerged as a hub for ransomware-related activities. According to TRM Labs’ analysts, Russian-speaking ransomware groups were responsible for almost 70% of all cryptocurrency earnings from ransomware attacks in 2023. This statistic reveals Russia’s increasing involvement in these illegal activities, with the groups reportedly generating around $500 million in cryptocurrency profits.
According to a recent report from TRM Labs, two major Russian ransomware groups, ALPHV (also known as BlackCat) and Lockbit, collectively raked in at least $320 million from their attacks. The report points out that Lockbit, which is currently sanctioned, targeted prominent companies such as the…
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