$2B in Crypto Seized, 500+ Ransomware Attacks Prevented

HSI, a branch of the U.S. Department of Homeland Security, prevented more than 500 ransomware attacks and froze over $2 billion in cryptocurrency since 2021 according to the latest report by Bloomberg. 

This particular element of HSI’s broader cyberspace criminal investigation is aimed at identifying possible ransomware threats before they turn malicious. Global Target, also known as HSI’s Cyber Crimes Center has a proactive approach by studying internet traffic, looking into software weaknesses, and acting prior to hackers, says Mike Prado, the Deputy Assistant Director.

Ransomware Plot Disruptions and Seized Cryptocurrency

During the period from October 2023 to September 2024, HSI effectively stopped 150 ransomware attempts; the total number of stopped attempts amounted to 537 since the beginning of the operation. This proactive conduct entails providing information to federal, state, and local governments, corporations, and other likely targets of cyber attacks and sometimes long before they are actually attacked.

In addition to disrupting cyberattacks, HSI has also seized about $4.3 billion in cryptocurrency used in ransomware payments of which $180 million were recovered in 2023. Extortion payments linked to crypto exchanges or stolen assets during hackers’ apprehensions are detected by the agency.

Cybercriminals keep launching ransomware attacks on multiple industries like healthcare and small business firms. 

HSI still keeps it down on its tactics stating that most of its operations are still in investigation but they are determined to fight cyber criminals as the ransomware crews keep on looking for vulnerable targets with emphasis on the US governmental hospitals. It works in cooperation with federal associates and local police to prevent threats and reduce risks for the targeted organizations.

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