As Ransomware Hackers Sit On Millions In Extorted Money, America’s Military Is Urged To Hack Back

, which led to gas and food shortages across America in the last month. The creators of NetWalker rented it out to other cybercriminals, who would find a way to break into a company and then deploy Netwalker to lock up the victims’ files. Only the key the Netwalker crew controlled could unlock that data. Since it emerged in 2019, its myriad victims included universities, healthcare bodies and government departments, making close to $50 million in that time.

The Netwalker case shows how following the money can lead to the disappearance of a ransomware group, and there are a growing number of of companies helping governments with that challenge. The biggest is New York-based Chainalysis, a startup now valued at over $2 billion, which has numerous contracts with U.S. government agencies and whose tools were used in the NetWalker takedown. Its rivals include Elliptic, a London, U.K., and CipherTrace, from Menlo Park, California.

Even when they’re compliant, exchanges can be so slow to respond, or the legal processes required to subpoena an exchange takes so long, often it’s too late: the criminals have cashed out and further laundered the money, Clegg added. Then there are those criminals who do nothing with their funds but leave them in “cold storage,” their motivations more inscrutable than the financially-motivated criminals who want to move their money as swiftly as possible.

The Dutch police took charge of testing and deploying the hack. When asked what such hacks involved, Marijn Schuurbiers, deputy head of the Dutch High Tech Crime Unit, toldhis team do similar things that criminals would do, in particular, “privilege escalation,” where a computer is breached and the hacker takes over administrator privileges.”From that point, you can basically do everything that you want.” And, he added, this could be done across multiple servers at once.

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