Chainalysis’ Jackie Burns Koven Shares Netwalker Ransomware Disruption Highlights
The disruption of the Netwalker ransomware group in January 2021 by U.S. and Bulgarian authorities resulted in the seizure of $30 million, the largest-ever recovery of ransomware funds, but it was also notable for the way cybersecurity teams took down the group.
The Netwalker operation demonstrated how blockchain may be an Achilles’ heel for cryptocurrency-using criminals because it permits a minimum of a few of their actions to be tracked, says Jackie Burns Koven, cyberthreat intelligence lead at blockchain analytics agency Chainalysis.
In a video interview with Data Safety Media Group at RSA Conference 2022, the place she served as a session panelist for “BTC as an IOC: Inside the Largest Ever Ransomware Funds Seizure,” Koven discusses:
- Highlights from the January 2021 Netwalker disruption, together with the arrest of a key affiliate;
- Why blockchain generally is a double-edged sword for criminals;
- How the ransomware, ransomware-as-a-service and affiliate-based ecosystem is predicted to evolve.
At Chainalysis, Koven has been monitoring ransomware operators and their enablers on blockchain for 3 years. Previous to becoming a member of Chainalysis, she served within the U.S. intelligence group.