American Court Prosecutes Ukrainian Resident for 13 Years for Revil Ransomware Offenses

The post American Court Prosecutes Ukrainian Resident for 13 Years for Revil Ransomware Offenses appeared first on Coinpedia Fintech News

The Texas Court sentenced a Ukrainian man, Yaroslav Vasinskyi, to more than thirteen years in prison as a maiden ruling in a ransomware situation which was allegedly performed by Russia-based hacking group REvil. The sentencing which took place on Wednesday proved to be a landmark in the worldwide battle against cybercrime.

Court charges $16 million as restitution

Vasinskyi, a 24-year-old was sent to the US from Poland in 2022 and in the same year pleaded guilty to charges of conspiracy to commit fraud, money laundering and harming protected computers. Not only the prison sentence, Vasinskyi has been also ordered to pay $16 million in restitution for his disgrace by involvement in more than 2500 ransomware attacks.

Assistant AG Nicole Argentieri of the principal department of the Attorney General’s office, called upon Vasinskyi condemning his actions and said “Vasinskyi together with his accomplices hacked into thousands of computers worldwide and encrypted them with ransomware. Then they demanded over $700 million in ransom fees threatening to publish the victims’ data if they refused to pay.”

Revil’s largest catch- Kaseya

REvil aka Sodinokibi became famous for hitting notable companies and institutions. One of their primary targets had been Kaseya, a business enabling about 40,000 organisations worldwide with IT services. Kaseya’s attack resulted in the closure of a large Swedish grocery chain and involved 17 countries’ businesses of different levels from pharmacies to gas stations to kindergartens.

The detention of Vasinskyi in Poland was a consequence of joint international measures to prevent the occurrence of ransomware attacks and those of cyber criminals such as REvil. The destruction of REvil in January 2022, seem to be a turning point in the ongoing escalation against ransomware and cyber-crimes at the international level was announced by the US.

Convicting Yaroslav Vasinskyi sends a harsh message to virtual crooks around the globe that the law enforcement authorities are determined to punish such offenders especially those who utilize their malicious attacks to cause the victims colossal losses in their finances and operations.

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