US Expands Sanctions on Evil Corp Amid Global Ransomware Crackdown

The U.S. Department of the Treasury announced on Tuesday that it has sanctioned members of the Russian cybercriminal group Evil Corp in a coordinated effort with the UK and Australia.

The U.S. Treasury has sanctioned members of Russia’s Evil Corp in collaboration with the UK and Australia, continuing a crackdown on cybercriminals. Targeting seven individuals, the group is infamous for deploying Dridex malware and Bitpaymer ransomware. This move highlights international efforts to combat cyber threats.

Announced on Tuesday, the U.S. Department of the Treasury has sanctioned members of the Russian cybercriminal group Evil Corp in a coordinated effort with the U.K. and Australia. This move targeted seven individuals and two entities associated with the group, continuing a series of measures initially set in 2019. The U.S. also indicted one member for using Bitpaymer ransomware against U.S. victims, which demanded ransom payments in cryptocurrency.

Evil Corp is notorious for deploying Dridex malware to steal login credentials from financial institutions, causing over $100 million in global losses, the Treasury Department described. The group has also used cryptocurrency to further its operations. Members like Aleksey Yevgenevich Shchetinin facilitated the exchange of millions of dollars in virtual and fiat currencies to aid ransomware activities. The announcement details:

“Today’s designation also coincides with the second day of the U.S.-hosted Counter Ransomware Initiative summit which involves over 50 countries working together to counter the threat of ransomware.”

The U.S. continues to expand sanctions against Evil Corp, implicating its leader Maksim Yakubets and others in financial crimes and cryptocurrency-linked transactions, the Treasury Department added.

Evil Corp members have strong ties to high-level Russian officials, with some using their influence to protect the group from legal repercussions, the Treasury Department explained. Maksim’s father-in-law, Eduard Benderskiy, has used his contacts within Russia’s security services to shield the group. Maksim also partnered with Aleksandr Ryzhenkov to develop and deploy ransomware against U.S.-based targets. OFAC’s latest sanctions block U.S. assets held by these individuals and entities, signaling the government’s determination to dismantle Evil Corp’s operations. Financial institutions and other entities that engage with these sanctioned individuals, including those facilitating cryptocurrency transactions, risk severe penalties.

What do you think about the U.S. government’s efforts to combat Evil Corp and other cybercriminal organizations through sanctions and international cooperation? Let us know in the comments section below.

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