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Bitcoin

Alleged Ukrainian fraudster extradited to US over $500K Conti ransomware plot

By admin
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Alleged Ukrainian fraudster extradited to US over $500K Conti ransomware plot

A Ukrainian man accused of using the Conti ransomware for cryptocurrency extortion was extradited from Ireland to the US yesterday to begin legal proceedings in Tennessee, according to the US Justice Department.

Oleksii Oleksiyovych Lytvynenko was arrested and charged in 2023 for conspiring to infect people’s computers, encrypt their data, and hold it for ransom.

The 43-year-old and his co-conspirators allegedly extorted over $500,000 worth of crypto from two victims in Tennessee and shared a third victim’s stolen data online.

Lytvynenko’s alleged role involved managing the stolen data and helping out with the ransom notes given to Conti victims.

Conti is a ransomware-as-a-service tool created by Russian hacking collective “Wizard Spider” in 2019. The FBI claims that, as of January 2022, Conti has extracted $150 million from over 1,000 victims globally.

It also claims that the hacking tool was the most popular in 2021 for attacking infrastructure.

Conti was used in Costa Rica in 2022 to disrupt 27 government institutions and demand a $16 million ransom. The group also attacked Ireland’s health service while demanding $20 million, but later rescinded its threat.

Lytvynenko faces up to five years in prison for computer fraud conspiracy and up to 20 years for wire fraud conspiracy.

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