Lawrence Damilola
International law enforcement efforts have intensified following reports that the Russia-based cybercrime syndicate Evil Corp may have ties to the ransomware group LockBit.
A recent report by Chainalysis reveals that both groups share cryptocurrency infrastructure, indicating potential collaboration. This development comes as the U.S., UK, and Australian governments imposed sanctions on key Evil Corp members for their involvement in widespread financial theft and ransomware attacks.
The U.S. Department of the Treasury, alongside the UK’s Foreign, Commonwealth & Development Office (FCDO) and Australia’s Department of Foreign Affairs and Trade (DFAT), imposed sanctions on key figures within Evil Corp last week. This follows the unsealing of an indictment by the U.S. Department of Justice charging an Evil Corp member with using BitPaymer ransomware to target U.S. victims. Evil Corp is primarily known for developing the Dridex malware, which has stolen over $100 million from financial institutions across more than 40 countries.
The Chainalysis report also highlighted ransomware strains associated with Evil Corp and cryptocurrency clusters tied to LockBit have used the same deposit addresses at centralized exchanges. This overlap suggests potential cooperation or shared infrastructure between the two groups. Earlier reports indicated that the group had used LockBit’s ransomware to rebrand and evade sanctions. Additionally, several key members of Evil Corp are believed to have close ties, further strengthening speculations of internal links within the group.
Evil Corp and Russian State Connections
Evil Corp’s leader, Maksim Victorovich Yakubets, has been accused of working with Russia’s Federal Security Service (FSB) and attempting to obtain a license to handle classified information. His father, Viktor Yakubets, and father-in-law, Eduard Benderskiy, a former FSB officer, have also been linked to the group, raising concerns about the group’s potential connections to Russian state entities.
Law enforcement across multiple countries have coordinated efforts to dismantle the syndicate and its affiliates. Recent actions include the arrest of a suspected LockBit developer by French authorities and the seizure of servers linked to LockBit’s ransomware infrastructure by Spanish officials.
ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be part of this landmark event in November. Tickets are available now at shibacon.shib.io.
Read More
- BingX Exchange Suffers $26 Million Hack, Suspends Withdrawals
- Another Security Breach: Decentraland X Account Compromised
- India’s WazirX Exchange Breached, Hacker Siphons Off $230M in Crypto
Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
