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How Cryptocurrency Turns to Cash in Russian Banks

Krebs on Security

A financial firm registered in Canada has emerged as the payment processor for dozens of Russian cryptocurrency exchanges and websites hawking cybercrime services aimed at Russian-speaking customers, new research finds. A machine-translated version of Flymoney, one of dozens of cryptocurrency exchanges apparently nested at Cryptomus.

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Ransomware Profitability

Schneier on Security

Analyzing cryptocurrency data, a research group has estimated a lower-bound on 2020 ransomware revenue: $350 million, four times more than in 2019. Ransomware is now an established worldwide business. Slashdot thread.

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Operation ENDGAME disrupted global ransomware infrastructure

Security Affairs

Operation ENDGAME dismantled key ransomware infrastructure, taking down 300 servers, 650 domains, and seizing 21.2M From May 19 to 22, 2025, Operation ENDGAME, coordinated by Europol and Eurojust, disrupted global ransomware infrastructure. in cryptocurrency, bringing the total to over 21.2M.

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U.S. Offered $10M for Hacker Just Arrested by Russia

Krebs on Security

In January 2022, KrebsOnSecurity identified a Russian man named Mikhail Matveev as “ Wazawaka ,” a cybercriminal who was deeply involved in the formation and operation of multiple ransomware groups. government indicted Matveev as a top ransomware purveyor a year later, offering $10 million for information leading to his arrest.

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Ransomware Payments Are Down

Schneier on Security

Chainalysis reports that worldwide ransomware payments were down in 2022. Ransomware attackers extorted at least $456.8 When we published last year’s version of this report, for example, we had only identified $602 million in ransomware payments in 2021. million from victims in 2022, down from $765.6

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Ransomware Is Getting Ugly

Schneier on Security

Modern ransomware has two dimensions: pay to get your data back, and pay not to have your data dumped on the Internet. The Colonial Pipeline is another current high-profile ransomware victim. Ransomware has become the most profitable cybercrime business model, and until we solve those two problems, that’s not going to change.

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Cryptocurrency users in the US hit by ransomware and Clipper malware

Tech Republic Security

Learn how to protect your business and staff from the MortalKombat ransomware and Laplas Clipper malware. The post Cryptocurrency users in the US hit by ransomware and Clipper malware appeared first on TechRepublic.