Blockchain & Cryptocurrency
,
Cybercrime
,
Cybercrime as-a-service
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.
See Also: Fireside Chat | Zero Tolerance: Controlling The Landscape Where You’ll Meet Your Adversaries
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.
