Researchers say Russia-linked ransomware group has raked in more than $100 million

Reuters: The cyber extortion group Black Basta, believed to be an offshoot of the Russian Conti hacker group, has reportedly accumulated over $100 million since its emergence last year. This finding comes from a joint report by Elliptic, a digital currency tracking service, and Corvus Insurance. The group has extorted at least $107 million in bitcoin, with many of the laundered payments traced to the Russian cryptocurrency exchange Garantex, which faces U.S. sanctions. Efforts to contact Black Basta or Garantex for comments were unsuccessful. Elliptic’s cofounder, Tom Robinson, noted that Black Basta’s earnings make it one of the most profitable ransomware strains ever. The research also revealed financial links between Black Basta and the now-defunct Conti group, suggesting that individuals from Conti are replicating their success under the new group. Conti was known for its ransomware attacks and dismantled its operations following the intensification of the Russia-Ukraine conflict and U.S. bounties on its leaders, but it is suspected to have reorganized and rebranded as Black Basta.

The entire article can be read at the link https://www.reuters.com/technology/cybersecurity/researchers-say-russia-linked-ransomware-group-has-raked-more-than-100-million-2023-11-29/