The U.S. Treasury, in coordination with the UK and Australia, sanctioned seven members and two entities linked to Russian cybercriminal group Evil Corp.
Continuing its efforts to combat cybercriminals, the United States Treasury has sanctioned Russia’s Evil Corp members in partnership with the United Kingdom and Australia.
The group is notorious for deploying Dridex malware and Bitpaymer ransomware, directed at seven individuals. This action emphasizes the global movement to mitigate cyber threats.
In response to the global ransomware crisis, the United States is augmenting sanctions against an evil corporation.
On Tuesday, the U.S. Department of the Treasury announced that it had sanctioned members of the Russian cybercriminal group Evil Corp in a coordinated effort with the United Kingdom and Australia.
Seven individuals and two entities associated with the group were the targets of this action, which was the continuation of a series of measures initially established in 2019. Additionally, the United States indicted one member for employing Bitpaymer ransomware against U.S. victims, which necessitated cryptocurrency payments as ransom.
According to the Treasury Department, Evil Corp is infamous for using Dridex malware to capture login credentials from financial institutions, resulting in a global loss of over $100 million. In addition, the organization has implemented cryptocurrency to facilitate its operations.
Aleksey Yevgenevich Shchetinin and other members facilitated the exchange of millions of dollars in virtual and fiat currencies to support ransomware activities. The announcement contains the following information:
Today’s designation also coincides with the second day of the U.S.-hosted Counter Ransomware Initiative summit which involves over 50 countries working together to counter the threat of ransomware.
According to the Treasury Department, the United States is continuing to broaden sanctions against Evil Corp, which has implicated its leader, Maksim Yakubets, and others in financial offenses and cryptocurrency-related transactions.
The Treasury Department clarified that Evil Corp members have strong connections to high-ranking Russian officials, and some utilize their influence to shield the group from legal repercussions.
Eduard Benderskiy, Maksim’s father-in-law, has employed his connections within Russia’s security services to protect the group. Maksim also collaborated with Aleksandr Ryzhenkov to create and implement ransomware against targets in the United States.
The government’s resoluteness to dismantle Evil Corp’s operations is underscored by the most recent sanctions imposed by OFAC, which prohibit these individuals and entities’ possession of U.S. assets. Financial institutions and other entities interacting with sanctioned individuals, including those facilitating cryptocurrency transactions, are at risk of incurring severe penalties.
