Feds recovers millions in ransomware payments from Colonial Pipeline hackers
The seizure of cryptocurrency paid by Colonial Pipeline to a Russian hacker ring marks a major milestone for Department of Justice.
Federal authorities have recovered millions of dollars in cryptocurrency paid in ransom to foreign hackers whose attack last month led to the shutdown of a major pipeline that provides nearly half the East Coast's fuel, according to officials.
The seizure of funds paid by Colonial Pipeline to a Russian hacker ring marks the first time the new Justice Department's task force recovered such a payment a significant milestone following a string of cyber attacks that panicked consumers and led President Biden to warn Russia that it needed to take "decisive action" against the criminal networks.
Deputy Attorney General Lisa Monaco said, "The DOJ has found and recaptured the majority of the ransom" in the wake of last month's attack.
Colonial Pipeline CEO Joseph Blount told The Wall Street Journal last month that the firm paid a $4.4 million in ransom.
"I know that's a highly controversial decision," he said. " But it was the right thing to do for the country."
https://www.washingtonpost.com/business/2021/06/07/colonial-pipeline-ransomware-payment-recovered/

This is fascinating, especially in light of recent declines in crypto values. Mayhap the security is not all that was advertised?

I imagine it was a fun time to listen in at the high-floor offices at FINCEN this month.

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

So kidnappers and hackers are going to go back to demanding ransoms be paid in unmarked $20s in a suitcase left under an overpass on the New Jersey Turnpike?

whitetrash said:

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So kidnappers and hackers are going to go back to demanding ransoms be paid in unmarked $20s in a suitcase left under an overpass on the New Jersey Turnpike?

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either that or wire cash to a bank acct in another country.

muddybrazos said:

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Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

^^^ This is why I don't believe it

DOJ is nothing but a Deep State tool of Biden now and is covering a cabal led plot at diversion of election recounts along with other continuing false flags to divert! Nothing but more noise to hide it all and of course, again, it's effin Russia Russia Russia!

Trump wins recount and bring back Russia baby

Connect the dots guys

Think!!!

muddybrazos said:

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Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

Yes, but that's a far cry from having the means to seize the money, which happened here.

Florda_mike said:

---

muddybrazos said:

---

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

^^^ This is why I don't believe it

DOJ is nothing but a Deep State tool of Biden now and is covering a cabal led plot at diversion of election recounts along with other continuing false flags to divert! Nothing but more noise to hide it all and of course, again, it's effin Russia Russia Russia!

Trump wins recount and bring back Russia baby

Connect the dots guys

Think!!!

---

this post is hilarious

bularry said:

---

Florda_mike said:

---

muddybrazos said:

---

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

^^^ This is why I don't believe it

DOJ is nothing but a Deep State tool of Biden now and is covering a cabal led plot at diversion of election recounts along with other continuing false flags to divert! Nothing but more noise to hide it all and of course, again, it's effin Russia Russia Russia!

Trump wins recount and bring back Russia baby

Connect the dots guys

Think!!!

---

this post is hilarious

---

Not if you have a brain and can play master chess

Actually the answer comes immediately then

You're simply just a bumbling old fool

Oldbear83 said:

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muddybrazos said:

---

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

Yes, but that's a far cry from having the means to seize the money, which happened here.

---

It just seems more difficult to me bc in order to turn the bitcoin into cash they have to liquidate it on an exchange. If the funds are moving out of that wallet then it would be known. If I were to do some extortion it seems i would have a bank wire sent to my Ukranian, Iranian or Russian bank account that cant be reversed or traced by the senders. It just seems odd the timing of all of these infrastructure attacks when the congress wants endless trillions on infrastructure and of course its the old Russia boogeyman.

Will the IRS say the ransom was a capital expenditure and the recovered money is unearned income?

muddybrazos said:

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Oldbear83 said:

---

muddybrazos said:

---

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

Yes, but that's a far cry from having the means to seize the money, which happened here.

---

It just seems more difficult to me bc in order to turn the bitcoin into cash they have to liquidate it on an exchange. If the funds are moving out of that wallet then it would be known. If I were to do some extortion it seems i would have a bank wire sent to my Ukranian, Iranian or Russian bank account that cant be reversed or traced by the senders. It just seems odd the timing of all of these infrastructure attacks when the congress wants endless trillions on infrastructure and of course its the old Russia boogeyman.

---

Keep in mind that banks can reverse almost anything. A few years back, we had a customer in South Africa who ordered his London bank to send a wire to New York from SA then back to his SA account, so he could pretend we were paid. The banker used a provision in UK's Fraud laws to warn us in advance, so we could tell the customer we would sue him if he tried that. I also know the FBI has broad powers to freeze bank accounts; it takes a Judge's order but there are a lot of Fed-friendly judges.

Florda_mike said:

---

bularry said:

---

Florda_mike said:

---

muddybrazos said:

---

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

^^^ This is why I don't believe it

DOJ is nothing but a Deep State tool of Biden now and is covering a cabal led plot at diversion of election recounts along with other continuing false flags to divert! Nothing but more noise to hide it all and of course, again, it's effin Russia Russia Russia!

Trump wins recount and bring back Russia baby

Connect the dots guys

Think!!!

---

this post is hilarious

---

Not if you have a brain and can play master chess

Actually the answer comes immediately then

You're simply just a bumbling old fool

---

Who is the cabal?

Oldbear83 said:

---

muddybrazos said:

---

Oldbear83 said:

---

muddybrazos said:

---

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

Yes, but that's a far cry from having the means to seize the money, which happened here.

---

It just seems more difficult to me bc in order to turn the bitcoin into cash they have to liquidate it on an exchange. If the funds are moving out of that wallet then it would be known. If I were to do some extortion it seems i would have a bank wire sent to my Ukranian, Iranian or Russian bank account that cant be reversed or traced by the senders. It just seems odd the timing of all of these infrastructure attacks when the congress wants endless trillions on infrastructure and of course its the old Russia boogeyman.

---

Keep in mind that banks can reverse almost anything. A few years back, we had a customer in South Africa who ordered his London bank to send a wire to New York from SA then back to his SA account, so he could pretend we were paid. The banker used a provision in UK's Fraud laws to warn us in advance, so we could tell the customer we would sue him if he tried that. I also know the FBI has broad powers to freeze bank accounts; it takes a Judge's order but there are a lot of Fed-friendly judges.

---

Not so much on wire transfers.

Had a client lender financing a car from a mom and pop place. Somebody hacked seller's email account and had the money wired instead of using a certified check. Seller says "Where's my money?" Client tried to get Chase to reverse it but that money was gone. I told seller to file a claim on their insurance, and tighten up their security. (There is also a chance they were not hacked and were trying to scam my client for two payments.)

quash said:

---

Oldbear83 said:

---

muddybrazos said:

---

Oldbear83 said:

---

muddybrazos said:

---

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

Yes, but that's a far cry from having the means to seize the money, which happened here.

---

It just seems more difficult to me bc in order to turn the bitcoin into cash they have to liquidate it on an exchange. If the funds are moving out of that wallet then it would be known. If I were to do some extortion it seems i would have a bank wire sent to my Ukranian, Iranian or Russian bank account that cant be reversed or traced by the senders. It just seems odd the timing of all of these infrastructure attacks when the congress wants endless trillions on infrastructure and of course its the old Russia boogeyman.

---

Keep in mind that banks can reverse almost anything. A few years back, we had a customer in South Africa who ordered his London bank to send a wire to New York from SA then back to his SA account, so he could pretend we were paid. The banker used a provision in UK's Fraud laws to warn us in advance, so we could tell the customer we would sue him if he tried that. I also know the FBI has broad powers to freeze bank accounts; it takes a Judge's order but there are a lot of Fed-friendly judges.

---

Not so much on wire transfers.

Had a client lender financing a car from a mom and pop place. Somebody hacked seller's email account and had the money wired instead of using a certified check. Seller says "Where's my money?" Client tried to get Chase to reverse it but that money was gone. I told seller to file a claim on their insurance, and tighten up their security. (There is also a chance they were not hacked and were trying to scam my client for two payments.)

---

This was always the way I understood it. When i worked at TD ameritrade (back in the day) we would always double and triple verify wire instructions espcecially when it was going overseas bc once it was gone it was hard if not impossible to undo.

I have read up more on this crypto recovery and it seems that these hackers were amateurs or this was a fake hack bc the bitcoin was on an exchange server in California, which tells me it was probably on coinbase. Not sure why any good Russian hacker wouldnt immediatly get the bitcoin on a cold wallet so it would not be recoverable then take that wallet to an exchange outside of the US.

muddybrazos said:

---

quash said:

---

Oldbear83 said:

---

muddybrazos said:

---

Oldbear83 said:

---

muddybrazos said:

---

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

Yes, but that's a far cry from having the means to seize the money, which happened here.

---

It just seems more difficult to me bc in order to turn the bitcoin into cash they have to liquidate it on an exchange. If the funds are moving out of that wallet then it would be known. If I were to do some extortion it seems i would have a bank wire sent to my Ukranian, Iranian or Russian bank account that cant be reversed or traced by the senders. It just seems odd the timing of all of these infrastructure attacks when the congress wants endless trillions on infrastructure and of course its the old Russia boogeyman.

---

Keep in mind that banks can reverse almost anything. A few years back, we had a customer in South Africa who ordered his London bank to send a wire to New York from SA then back to his SA account, so he could pretend we were paid. The banker used a provision in UK's Fraud laws to warn us in advance, so we could tell the customer we would sue him if he tried that. I also know the FBI has broad powers to freeze bank accounts; it takes a Judge's order but there are a lot of Fed-friendly judges.

---

Not so much on wire transfers.

Had a client lender financing a car from a mom and pop place. Somebody hacked seller's email account and had the money wired instead of using a certified check. Seller says "Where's my money?" Client tried to get Chase to reverse it but that money was gone. I told seller to file a claim on their insurance, and tighten up their security. (There is also a chance they were not hacked and were trying to scam my client for two payments.)

---

This was always the way I understood it. When i worked at TD ameritrade (back in the day) we would always double and triple verify wire instructions espcecially when it was going overseas bc once it was gone it was hard if not impossible to undo.

I have read up more on this crypto recovery and it seems that these hackers were amateurs or this was a fake hack bc the bitcoin was on an exchange server in California, which tells me it was probably on coinbase. Not sure why any good Russian hacker wouldnt immediatly get the bitcoin on a cold wallet so it would not be recoverable then take that wallet to an exchange outside of the US.

---

Cold wallet = like a flash drive?

BearFan33 said:

---

muddybrazos said:

---

quash said:

---

Oldbear83 said:

---

muddybrazos said:

---

Oldbear83 said:

---

muddybrazos said:

---

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

Yes, but that's a far cry from having the means to seize the money, which happened here.

---

It just seems more difficult to me bc in order to turn the bitcoin into cash they have to liquidate it on an exchange. If the funds are moving out of that wallet then it would be known. If I were to do some extortion it seems i would have a bank wire sent to my Ukranian, Iranian or Russian bank account that cant be reversed or traced by the senders. It just seems odd the timing of all of these infrastructure attacks when the congress wants endless trillions on infrastructure and of course its the old Russia boogeyman.

---

Keep in mind that banks can reverse almost anything. A few years back, we had a customer in South Africa who ordered his London bank to send a wire to New York from SA then back to his SA account, so he could pretend we were paid. The banker used a provision in UK's Fraud laws to warn us in advance, so we could tell the customer we would sue him if he tried that. I also know the FBI has broad powers to freeze bank accounts; it takes a Judge's order but there are a lot of Fed-friendly judges.

---

Not so much on wire transfers.

Had a client lender financing a car from a mom and pop place. Somebody hacked seller's email account and had the money wired instead of using a certified check. Seller says "Where's my money?" Client tried to get Chase to reverse it but that money was gone. I told seller to file a claim on their insurance, and tighten up their security. (There is also a chance they were not hacked and were trying to scam my client for two payments.)

---

This was always the way I understood it. When i worked at TD ameritrade (back in the day) we would always double and triple verify wire instructions espcecially when it was going overseas bc once it was gone it was hard if not impossible to undo.

I have read up more on this crypto recovery and it seems that these hackers were amateurs or this was a fake hack bc the bitcoin was on an exchange server in California, which tells me it was probably on coinbase. Not sure why any good Russian hacker wouldnt immediatly get the bitcoin on a cold wallet so it would not be recoverable then take that wallet to an exchange outside of the US.

---

Cold wallet = like a flash drive?

---

yes a thumb drive would be a cold wallet or if you have it stored somewhere on a server or pc not connected to the internet.

Florda_mike said:

---

muddybrazos said:

---

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

^^^ This is why I don't believe it

DOJ is nothing but a Deep State tool of Biden now and is covering a cabal led plot at diversion of election recounts along with other continuing false flags to divert! Nothing but more noise to hide it all and of course, again, it's effin Russia Russia Russia!

Trump wins recount and bring back Russia baby

Connect the dots guys

Think!!!

---

I'm giggling that Trump playing 4d chess has turned into connect the dots. Thanks for that

TexasScientist said:

---

Florda_mike said:

---

bularry said:

---

Florda_mike said:

---

muddybrazos said:

---

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

^^^ This is why I don't believe it

DOJ is nothing but a Deep State tool of Biden now and is covering a cabal led plot at diversion of election recounts along with other continuing false flags to divert! Nothing but more noise to hide it all and of course, again, it's effin Russia Russia Russia!

Trump wins recount and bring back Russia baby

Connect the dots guys

Think!!!

---

this post is hilarious

---

Not if you have a brain and can play master chess

Actually the answer comes immediately then

You're simply just a bumbling old fool

---

Who is the cabal?

---

The Keebler Elves. They watched 'Breaking Bad', and decided those Oreo folks need to pay.

Oldbear83 said:

---

TexasScientist said:

---

Florda_mike said:

---

bularry said:

---

Florda_mike said:

---

muddybrazos said:

---

Anyone who understands the blockchain knows that all the transactions are transparent and recorded. If they have the wallet address they can see the transactions.

---

^^^ This is why I don't believe it

DOJ is nothing but a Deep State tool of Biden now and is covering a cabal led plot at diversion of election recounts along with other continuing false flags to divert! Nothing but more noise to hide it all and of course, again, it's effin Russia Russia Russia!

Trump wins recount and bring back Russia baby

Connect the dots guys

Think!!!

---

this post is hilarious

---

Not if you have a brain and can play master chess

Actually the answer comes immediately then

You're simply just a bumbling old fool

---

Who is the cabal?

---

The Keebler Elves. They watched 'Breaking Bad', and decided those Oreo folks need to pay.

---

That makes sense. They live in the figment part of Florida's brain with the rest of the Cabal.

The Biggest Ransomware Bust Yet Might Actually Make an Impact

By arresting one alleged hacker associated with REVil and seizing millions from another, the US has made it clear that ransomware comes with a cost.

Quote:

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In early July, heading into the holiday weekend, a ransomware attack against the IT management firm Kaseya incapacitated hundreds of businesses, their data encrypted by the notorious REvil ransomware group. Now, US authorities have announced a development as unprecedented as the incident itself: The alleged perpetrator, a Ukrainian national, was arrested in October and is currently awaiting extradition from Poland.

Ransomware gangs have operated with relative impunity over the last few years, in part because so many of them are based in Russia and the Kremlin has steadfastly turned a blind eye. Monday's Department of Justice announcement, though, shows that the hybrid approach law enforcement has landed on can work. The arrest and pending extradition of 22-year-old Yaroslav Vasinskyi shows that officials are capable of apprehending key players when they slip up. And another major announcement, the seizure of $6.1 million in alleged ransomware payments received by Russian national Yevgeniy Polyanin, shows that authorities can disrupt their targets even when they can't take them into custody.

"Vasinskyi's arrest demonstrates how quickly we will act alongside our international partners to identify, locate, and apprehend alleged cybercriminals no matter where they are located," Attorney General Merrick Garland said at a press conference on Monday. "Ransomware attacks are fueled by criminal profits; that is why we are not just pursuing individuals responsible for those attacks. We are also committed to capturing their illicit profits and returning them whenever we can to the victims from whom they were extorted."

---

https://www.wired.com/story/ransomware-revil-arrest-kaseya/?mbid=social_facebook&utm_medium=social&utm_social-type=owned&utm_source=facebook&utm_brand=wired&fbclid=IwAR1KFgiW4IQtuaBpuMnnmdNIZKksKWIVV7jZa4gXL3kf-sKwEFCF90LCJoA

Quote:

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115 milliseconds.
As quick as a blink, that's the amount of time a new technology developed by researchers from Australia's national science agency and a university in South Korea takes to detect that ransomware has detonated on a computer and block it from causing further damage.

The finding seeks to address a vexing challenge that has stymied international efforts to stop such attacks. As hackers execute bolder attacks with bigger potential payouts, computer scientists are pushing the limits of software to make near-instantaneous decisions and save victims from ruin.

A spree of recent ransomware attacks have focused attention on the issue and spurred booming growth for part of the cybersecurity industry one that has benefited from a presidential endorsement of sorts.

---

https://medium.com/bloomberg/the-vexing-tech-challenge-of-fighting-ransomware-a-battle-of-milliseconds-1cb6e14aed69