In a significant escalation of its cybercrime fighting efforts, the U.S. State Department has announced a total reward of $15 million for information that could lead to the capture of key figures within the Hive ransomware gang. This initiative comes as a complement to previous actions where law enforcement, in a coordinated international effort, managed to severely disrupt Hive’s operations by seizing its infrastructure.

These rewards, split into $10 million for the identification or location of the gang’s leaders, and an additional $5 million for information leading to the arrest or conviction of any affiliate, signify a robust approach to dismantling cybercriminal networks that have affected thousands globally.

Why it matters: The Hive ransomware group, notorious for its widespread attacks impacting over 1,500 victims in more than 80 countries, has represented a significant cyber threat since its emergence in 2021. The group’s activities have not only caused substantial financial losses, exceeding $100 million in ransoms, but have also targeted critical sectors, including healthcare and education organizations, highlighting the urgent need for effective countermeasures.

• The strategic bounty offered by the United States government aims not only to neutralize a significant threat but also to establish a benchmark for global responses to cybercrime, and hopes to discourage similar crimes.

• The cryptocurrency research firm Chainalysis has documented that the dismantling of Hive, coupled with the FBI’s dissemination of decryption keys, exerted a favorable influence on the ransomware ecosystem. This intervention substantially diminished the total ransom payments in 2022 and led to a marked decline in overall ransomware operations.

• The coordinated action against Hive, involving Europol and law enforcement agencies from Germany, the Netherlands, and the United States, exemplifies the effectiveness of international cooperation in combating cyber threats.

Go Deeper -> U.S. Offers 10 Million Dollar Reward for Hive Ransomware Information – The Record

U.S. Offers $10 Million Reward for Info about Hive Ransomware Leaders – Security Boulevard