Cencora Faces Backlash from Crypto Community Over $75M Cyber Ransom Payment in Bitcoin

On-chain analyst revealed the exact BTC transactions in three installments in March. Crypto users advocate tracking hackers and providing more information following the incident.

Healthcare company Cencora is facing heat from the crypto community after a $75 million cyber ransom payment in Bitcoin was revealed by an on-chain analyst, detailing the exact BTC transactions in three installments in March. Crypto users are calling for tracking the hackers and more transparency in the incident's aftermath.

Crypto Users Slam Cencora Over Non-Disclosure

Following a Bloomberg report that hackers linked to the Cencora cyberattack received $75 million in Bitcoin, crypto users have highlighted several issues regarding the incident. According to the report, the drug distributor disclosed the cyber hack, which saw data stolen from its systems.

Later, sources familiar with the matter claimed that the ransom payment to the bad actors was about $75 million in Bitcoin. The payment, which was reduced from an initial $150 million demand, was made in three installments in March, and affected individuals were notified in May.

On-chain investigator ZackXBT provided further details on the Cencora incident on X (formerly Twitter) after the initial report.

I think it’s a bad look when a large publicly traded company like Cencora does not share the BTC transactions for the $75M payment to Dark Angels ransomeware group so I will just post it for them.

296.5 BTC – Mar 7, 2024 at 10:04 pm UTC… https://t.co/24n3J2ubSh pic.twitter.com/aXEx3kHVxz

— ZachXBT (@zachxbt) September 18, 2024

He pointed out the company’s lack of disclosure on the exact Bitcoin transaction to the Dark Angel ransomware group before revealing the details. According to his findings, the wallets were funded from the same source to accounts with high illicit fund exposure.

“296.5 BTC – Mar 7, 2024 at 10:04 pm UTC e3e203db2752edeb5bb716a77ed30f977bee70b06cefecd69d1c38921ad5d1b2

408 BTC – Mar 8, 2024 at 7:45 pm UTC db4a0742aa2fe67c20f02642bb776fb4140cf32beca43b7552435f5eddb58d92

387 BTC – Mar 8, 2024 at 9:39 pm UTC bf408baa4d6598a42a6852012fe412514ff7bb70ca8a94deb9865c9b46f19ddf”

Wider Community Pushes for Further Investigation

After the revelation of the transfers, several crypto users suggested tracing the wallets to find the bad actors and attempting to recover the assets. However, despite the public nature of the blockchain, ransomware groups are known to employ advanced laundering techniques. Others argued that Cencora could have used the $75 million to enhance its security and prevent the incident.

While the Cencora incident does not directly involve a crypto platform scam, several global authorities have highlighted the use of crypto to facilitate fraudulent payments. Recently, the Commodity Futures Trading Commission (CFTC) announced a partnership to tackle crypto scams and related issues.

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