US Offers $10m Reward for Hive Ransomware Leaders

By James Coker for Infosecurity Magazine
Monday, February 12, 2024

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For example, Cisco Talos research found that some Qakbot affiliates are still deploying ransomware despite the takedown of the group’s infrastructure by law enforcement in August 2023.

Dr Ilia Kolochenko, CEO and Chief Architect at ImmuniWeb, said the offer of an award for information leading to the identification and potential arrest of Hive leaders may exploit tension within and between cybercrime gangs, particularly in the current geopolitical environment where different gang members may hold different political views.

“All this creates a somewhat unique and hostile environment, where a bounty payment may work and eventually turn out to be a much cheaper way to arrest the perpetrators compared to complex, cross-border investigations,” he commented.

Kolochenko added that it will be interesting to see the approach taken by the US if an informant happens to be under sanctions.

“Paying will violate the law, while not paying will undermine confidence in any future promises made by the government,” he commented.

A report by Chainalysis on February 7 found that ransomware actors collected more than $1bn in extortion money from victims in 2023, a record high. Read Full Article