Ransomware assaults reported in the second half of 2021 were 75% the work of Russian hackers, says US

Russian hackers’ payment-seeking malware was used in 75% of all ransomware assaults reported to a US financial crime agency in the second half of 2021, according to a Treasury Department analysis made public on Tuesday.

According to the US Financial Crimes Enforcement Network (FinCEN), it received 1,489 ransomware-related filings worth almost $1.2 billion in 2021, an 188% increase from the previous year.

75% of the 793 ransomware incidents FinCEN received in the second half of 2021, had a nexus to Russia, its proxies, or those operating on its behalf.

The report is released as Washington gets ready to hold a summit with representatives from 36 countries, the European Union, and 13 global corporations to talk about the growing threat presented by ransomware and other types of cybercrime, including the unauthorised use of bitcoin.

The frequency and severity of ransomware attacks against crucial American infrastructure have increased since late 2020.

These assaults work by using ransomware to encrypt the victim’s data, and instead of providing the victim with a key to decrypt their data, hackers demand cryptocurrency payments that can reach millions of dollars.