U.S. Department of State offers $15M in exchange for info related to Conti Ransomware
The United States Department of State has recently announced that it is offering a total of $15 million in two separate bounties for information on the Conti ransomware variant transnational organized crime group.
Department of State offering a $15 million reward
As per a recent announcement by the Department of State, it has decided to reward $10 million in return for the identification and/or location of any individual who has a senior leadership position in the Conti ransomware. Furthermore, the Department has also set a reward of $5 million for information leading to the arrest and/or conviction of anybody involved in or intending to engage in a Conti variant ransomware attack in any nation.The Transnational Organized Crime Rewards Program (TOCRP) by the Department of State will handle the reward, and anyone around the world can claim it.
Ransomware, a type of malware that threatens to delete or disclose private information unless a ransom is paid, has become very common in the crypto sector. According to Chainalysis, the total value of these attacks peaked in 2020 at $692 million. According to the same report, Conti holds first place in the top 10 ransomware strains by revenue, swindling at least $180 million from its victims in 2021.
The Department of State writes:
"In offering this reward, the United States demonstrates its commitment to protecting potential ransomware victims around the world from exploitation by cyber criminals."
What is Conti ransomware?
The Conti ransomware group, which has around 350 members, has been responsible for hundreds of ransomware instances in the last two years. The group mostly employs proprietary in-house software that is significantly faster than most ransomware programs.According to the FBI, there were over 1,000 victims of Conti ransomware attacks as of January 2022, with payouts totaling over $150 million, making the Conti Ransomware version the most deadly ransomware strain ever recorded. Since 2020, it has collected almost $2.7 billion in ransom.
The group launched a ransomware attack against the Costa Rican government in April this year, disrupting the country's customs and tax platforms and severely affecting the country's foreign trade.
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