Cynetan Israeli company specializing in the detection and management of cyber threats, has provided the first estimates on the money movements through bitcoin wallets of large criminal organizations. According to the data collected, there are an estimated 65,000 bitcoins (for a total value of 2 billion dollars) in the digital pockets of Russian ransomware gangs such as Conti. Other estimates come to assume a total of 79 billion dollars.
Cynet’s point on the importance of cryptocurrency movements such as bitcoins during the war
Second Marco Lucchina, Channel Manager Italy, Spain & Portugal di Cynet, it is important to follow the flows of money through bitcoin and cryptocurrencies to: “understanding the criminal schemes of large organizations is a long-standing and still effective strategy. It was used in the America of prohibition and then, later, in the fight against the Sicilian mafia in the nineties. Today it can be used to understand Cybercrime and above all its deep connection with Cryptocurrencies “. From what emerges from the data, Russian cyber gangs can count on huge reserves of cryptocurrencies. This enormous availability comes into play during the war.
The conflict between Ukraine and Russia is directly involved
Cynet highlights how the groups defined as ransomware gang or APT – Advanced Persistent Threat have lined up guaranteeing support to Russia, China, North Korea and Iran which are countries in which this type of organization is particularly rooted. The war in Ukraine polarized the sides with Anonymous declaring a “digital war” on Russia.