Two Russian Nationals Plead Guilty in LockBit Ransomware Case (Insurance Journal)

Two Russian Nationals Plead Guilty in LockBit Ransomware Case

Monday, July 22nd, 2024 Fraud Litigation Technology

Two Russian nationals, Ruslan Astamirov and Mikhail Vasiliev, have pleaded guilty to their involvement in ransomware attacks across the US, Asia, Europe, and Africa as part of the notorious hacking gang known as LockBit. The LockBit ransomware variant, which first emerged in 2020, has become one of the most destructive ransomware strains, targeting over 2,500 victims and extorting at least $500 million in ransom payments. The men pleaded guilty in a federal court in Newark, New Jersey, where six individuals, including the alleged creator of LockBit, Dimitry Khoroshev, have been charged.

LockBit operates on a ransomware-as-a-service model, allowing affiliates to lease the malicious code and carry out attacks, sharing the profits with the gang leaders. Astamirov, 21, from the Chechen Republic, and Vasiliev, 34, from Bradford, Ontario, were among these affiliates. They faced charges including conspiracy to commit computer fraud and abuse. The US Justice Department emphasized that these guilty pleas are a crucial step towards dismantling the LockBit network.

The US and UK authorities disrupted LockBit operations earlier this year, arresting members, seizing servers and cryptocurrency accounts, and recovering decryption keys. Deputy Attorney General Lisa Monaco highlighted these actions as significant blows to ransomware groups. Vasiliev was implicated in at least 12 attacks, including targets in the UK and Switzerland, while Astamirov conducted cyberattacks on multiple businesses, including in Florida and Tokyo. Both men are scheduled for sentencing on January 8, with Astamirov facing up to 25 years in prison and Vasiliev up to 45 years.


External References & Further Reading
https://www.insurancejournal.com/news/national/2024/07/22/784819.htm
SOS Ladder AssistMid-America Catastrophe ServicesAspen Claims ServiceNationwide OversprayHancock Claims Consultants