March 14, 2024 at 10:51AM
A 34-year-old Russian-Canadian, Mikhail Vasiliev, received a nearly four-year jail sentence in Canada for his involvement in the LockBit ransomware operation. He pleaded guilty to cyber extortion, mischief, and weapons charges. Vasiliev, described as a “cyber-terrorist,” sought ransom payments from Canadian companies and has been ordered to pay back over $860,000 in restitution.
Key takeaways from the meeting notes:
– Mikhail Vasiliev, a Russian-Canadian national, has been sentenced to nearly four years in jail in Canada for his involvement in the LockBit global ransomware operation. He pleaded guilty to cyber extortion, mischief, and weapons charges.
– Vasiliev is described as a “cyber terrorist” motivated by greed and targeted Canadian companies for ransom payments during the COVID-19 pandemic.
– He has been ordered to pay back more than $860,000 in restitution and consented to being extradited to the U.S.
– The LockBit ransomware group suffered a setback when its infrastructure was seized in February 2024, and three affiliates were arrested in Poland and Ukraine.
– Meanwhile, Roman Sterlingov, a dual Russian-Swedish national, was convicted for operating Bitcoin Fog, a cryptocurrency ‘mixer’ used for money laundering.
– Ilya Lichtenstein pleaded guilty to the theft of about 120,000 bitcoin in connection to the hack of the Bitfinex cryptocurrency exchange and testified about using Bitcoin Fog to launder virtual assets.
The meeting notes provide an overview of recent developments in cyber crime, including the prosecution of individuals involved in ransomware and money laundering operations. These insights demonstrate the ongoing efforts to combat cyber criminal activities and the legal actions taken against individuals involved in these illicit operations.