Law Enforcement Deals Blow to LockBit Ransomware Group

Law enforcement agencies have successfully disrupted operations of the LockBit ransomware group by seizing servers, disrupting operations, and identifying wallets linked to the organization which are used to receive cryptocurrency-based payments. Operation Cronos, the service run by the FBI, hit LockBit’s infrastructure, taking down servers, source code, and data storage. While LockBit affiliates collect their earnings from ransom payments between hundreds of millions, security professionals estimate that.

The UK, United States and Europe police authorities have seized more than 35LockBit servers.Following more updates that were presented on Friday, authorities stated that they had identified approximately 30,000 bitcoin wallets linked to the ransonware group.

The struggle against lockbit is not yet finished. On the other hand, authorities have managed to restrict access to 85 LockBit-related accounts on Binance, the world’s biggest crypto exchange, but more than 500 affiliate accounts are still working. Besides, the emergence of sophisticated deception methods makes tracking and bringing these affiliates to justice a big deal. Additionally, the core members of LockBit are yet to be apprehended by law enforcement authorities and so there is a possibility that the group will reorganize.

However, there is still room for improvement but the actions against LockBit are regarded as a great achievement so far. Law enforcement authorities are continuing to watch the activities of LockBit affiliates as well as how other ransomware actors will react to this takedown.

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