February 22, 2024 at 06:47PM
The LockBit ransomware group faced issues and was shut down by an international law enforcement effort led by the UK’s National Crime Agency due to dissent among members and affiliates. The takedown disrupted its infrastructure and led to several arrests. The group’s viability and reputation have been severely affected, and it faces significant challenges moving forward.
The meeting notes reveal that the LockBit ransomware operation has been shut down by an international law enforcement effort. The effort, named “Operation Cronos,” was carried out by the UK’s National Crime Agency (NCA), the FBI, the US Department of Justice, and other law enforcement agencies from various countries. This resulted in the seizure of key infrastructure belonging to LockBit, including servers, source code, and cryptocurrency accounts. The takedown has left the criminal outfit’s ability to continue its ransomware activities severely hindered.
The takedown also led to the unsealing of an indictment by the US Department of Justice, charging two Russian nationals and disclosing that so far, five prominent LockBit members have been charged for their roles in the operation. The US State Department has announced rewards totaling $15 million for information leading to the arrest and conviction of key members and leaders of the group. Additionally, the Department of Treasury has imposed sanctions on certain individuals connected to LockBit, making payments from US victims to LockBit strictly illegal.
The law enforcement operation has been described as a well-earned success against a group that has caused billions of dollars in damages and extracted a staggering $120 million from victim organizations worldwide over the last four years.
The notes also highlight challenges faced by LockBit such as dissent among its members and affiliates, exposure of its decryption tools and infrastructure, and rumors of its refusal to pay affiliates as promised, impacting its reputation as a trusted Ransomware-as-a-Service (RaaS) player.
In conclusion, the meeting notes provide detailed insights into the international law enforcement effort’s successful takedown of the LockBit ransomware operation and its impact on the group’s ability to continue its criminal activities.