Security News > 2021 > January > Ryuk ransomware Bitcoin wallets point to $150 million operation
Security researchers following the money circuit from Ryuk ransomware victims into the threat actor's pockets estimate that the criminal organization made at least $150 million.
Threat intelligence companies Advanced Intelligence and HYAS tracked 61 Bitcoin wallets attributed to the Ryuk malware enterprise and discovered that the cryptocurrency moves from an intermediary to Huobi and Binance exchanges.
Cashing out the ransom money in fiat currency is not a simple process but Ryuk set up a circuit that allows them to handle millions despite security researchers and law enforcement keeping a close eye on the operation.
Ryuk ransomware has been active for more than two years and left behind a long list of victims.
Considering the actor's reputation of a tough negotiator that does not budge an inch regardless of the victim's profile or financial difficulties, the $150 million revenue estimation is likely conservative.
Another highly profitable ransomware gang is REvil, who announced through a public-facing representative that they made $100 million in one year from extorting victims.