Security News > 2021 > January > Researchers Estimate Ryuk Ransomware Operations to Be Worth $150 Million
The Ryuk ransomware criminal enterprise is estimated to be worth more than $150,000,000, security researchers say.
Initially detailed in 2018 and believed to be operated by Russian cybercriminals, Ryuk has become one of the most prevalent malware families, being used in various high-profile attacks, such as the targeting of Pennsylvania-based UHS and Alabama hospital chain DCH Health System.
In October 2020, the DFIR Report published a comprehensive analysis of a Ryuk attack, explaining how operators used phishing emails as the initial attack vector, performed extensive reconnaissance on the local network, and then proceeded to deploy and run Ryuk.
The attackers deployed Ryuk 29 hours after initial compromise, and demanded a ransom payment of approximately $6 million to be made.
The estimate was made by Brian Carter, principal researcher at HYAS, and Vitali Kremez, CEO and chairman of Advanced Intelligence LLC, after they had a look into transactions for known Bitcoin addresses associated with Ryuk.
Ryuk operators are sending "Significant flows of crypto currency" to several small addresses that are believed to be "a crime service that exchanges the cryptocurrency for local currency or another digital currency."