Accused of Extorting Half a Billion Dollars – LockBit Ransomware Gang Perpetrator

American Officials Accuse LockBit Ransomware Operator of Extorting Half a Billion Dollars

31-year-old Dmitry Khoroshev has been identified as the mastermind behind the LockBit ransomware group, which operated on an international scale. Khoroshev was responsible for developing the code and recruiting associates to carry out ransomware attacks, which led to extorting at least 500 million dollars from over 2,500 victims in more than 120 countries.

Khoroshev’s Fortune: $100 Million in Cryptocurrencies

Khoroshev received 20% of each ransom payment, totaling more than 100 million dollars in cryptocurrencies in just four years. The US Department of Justice emphasized that ransomware groups are accountable for losses, including victims’ lost profits, incident response costs, and ransom recovery, amounting to billions of dollars.

Law Enforcement Intervention: Disruption of LockBit Infrastructure

In February, law enforcement agencies conducted an international operation that dismantled the LockBit infrastructure, effectively halting the group’s activities. Despite attempts to rebuild operations, the group is currently operating at a low level and using a new website to publicly shame victims and falsely attribute crimes to others.

Decline in LockBit Activity in the United Kingdom

The impact of law enforcement intervention is evident in the United Kingdom, where LockBit attacks decreased by 73% since the end of February. Current incidents are carried out by less sophisticated actors with less influence than before, offering hope for reducing the ransomware threat.