US offers $10 million for tips on Hive ransomware leadership

US offers $10 million for tips on Hive ransomware leadership

February 8, 2024 at 01:04PM

The U.S. State Department is offering rewards of up to $10 million for information on the Hive ransomware gang, known for extorting $100 million from companies globally. The FBI infiltrated Hive’s network, providing decryption keys to victims and preventing $130 million in ransom payments. The rewards total over $135 million since 1986.

Key takeaways from the meeting notes on the Hive ransomware gang:

1. The U.S. State Department offers rewards of up to $10 million for information leading to the identification, location, arrest, and conviction of individuals involved in the Hive ransomware group.

2. The FBI reported that the Hive ransomware group extorted roughly $100 million from over 1,300 companies across more than 80 countries between June 2021 and November 2022.

3. In conjunction with international law enforcement, the FBI infiltrated Hive servers, captured decryption keys, and offered them to victims, preventing victims from having to pay $130 million in ransom demanded.

4. The Hive ransomware-as-a-service (RaaS) operation began in June 2021 and targets organizations via phishing campaigns, exploiting vulnerabilities, and using purchased credentials.

5. The State Department has previously announced bounties for location information on members of other ransomware operations and has paid over $135 million for helpful tips through the Transnational Organized Crime Rewards Program (TOCRP) since 1986.

These are the main points highlighted in the meeting notes regarding the Hive ransomware gang.

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