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US Department of State announce a reward of $10 million for information regarding Hive ransomware gang

The Department of State of the United States announced on Thursday (Feb 8) a reward of up to $10 million for any information that could uncover the identities of the leaders of the Hive ransomware gang. Additionally, the department stated it would offer up to $5 million for information that leads to the arrest and conviction of any of the members, regardless of their location.

In a statement, the State Department disclosed that starting from late July 2022, the FBI managed to infiltrate the computer networks of Hive, acquiring their decryption keys and distributing them to victims worldwide. This action prevented victims from having to pay as much as $130 million in ransom demands.

The Hive ransomware gang, according to the US government, has targeted more than 1,500 institutions across over 80 countries. Their illicit activities have resulted in the theft of over $100 million from various entities, including school districts, financial institutions, and critical infrastructure.

Globally, numerous ransomware gangs operate from different countries, with the total amount paid by victims exceeding $1 billion in 2023 alone. In the United States, over 2,200 hospitals, schools, government agencies, and thousands of private companies fell victim to ransomware attacks in the past year.

The modus operandi of the Hive ransomware gang involves creating malicious software capable of infiltrating the computer networks of organizations using various techniques, such as phishing emails. Once inside, the group holds users hostage and demands hefty payments in exchange for decryption keys required to unlock the organization’s systems.

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