JOURNAL ARTICLE

How the FBI prevented $130 million in crypto ransomware attacks by hacking the hackers behind Hive.

  • Published In: Fortune.com, 2023. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Quiroz-Gutierrez, Marco 3 of 3

Abstract

The article focuses on the Hive ransomware group, which operated as a sophisticated crime syndicate, licensing its ransomware to subsidiaries globally and targeting various entities, including healthcare facilities, during the pandemic. The group extorted approximately $100 million in ransoms from 1,500 victims across 80 countries, employing tactics such as phishing and VPN exploitation. The FBI infiltrated Hive's network for seven months, providing decryption keys to victims and preventing further attacks, ultimately saving an estimated $130 million in ransom payments. In January, the Justice Department announced the shutdown of Hive through international cooperation with law enforcement agencies in Germany and the Netherlands. [Extracted from the article]

Additional Information

  • Source:Fortune.com. 2023/05, pN.PAG
  • Document Type:Article
  • Subject Area:Science
  • Publication Date:2023
  • Accession Number:163819942
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