Awe! As FBI Pervade Hive Network, Blocks More than $130M in Cryptocurrency Ransomware
The United States Justice Department (US DoJ) Thursday, released a statement on the final
outcome of a very long operation with the FBI. This case has been said to have literary
interrupted Hive’s ransomware operations. According to the FBI, this ransomware had banks
and other financial institutions, schools, and hospitals in more than 80 countries as part of their
prime targets.
In an official statement by General Merrick B. Garland: the US Attorney that was linked to the
case, declared that the recent development in an official statement to the media. In the
statement, he clarified that the United States Justice Department has officially deconstructed the
ransomware network: HIVE. He further stated the reason for the action as extortion and an
attempt to export funds in millions of USD within and outside the United States.
Also contained in the report, the US DoJ disclosed that Hive had over one thousand five
hundred victims globally as their prime targets since June 2021. The report also revealed that
they (Hive) had accumulated more than $100M in random crypto transactions. The US DoJ,
through the Attorney, also explained how the FBI pervaded Hive’s network space and how their
criminal activities started in 2022 (precisely in July).
The statement also revealed that the federal security agency was able to present more than
1.3k decryption keys to assist victims of this ransomware in getting back their systems and files.
In a follow-up report by the FBI, they also appreciated the corporative efforts of other security
agencies in Netherland and Germany, who played important roles in ceasing the ownership of
Hive’s website platforms and servers.
They advised the public of the need to secure their digital assets with robust cybersecurity
infrastructures. Ransomware is an online tool used by hackers or other criminal elements to
penetrate and lock up a computer or an online platform while requesting a ransom before it can
be released.
According to the US security agency (the FBI), Hive’s primary target from their victims is their
data, e.g., videos docs, textual documents, emails, pictures, etc. They go ahead to encrypt
these files after they succeed in changing the ownership.
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