US shuts down major ransomware network Hive

US officials say Hive ransomware network extorted more than $100m from victims in more than 80 countries around the world.

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Aljazeera - The United States has seized the website of a major ransomware network, the US Department of Justice announced, accusing Hive ransomware actors of extorting more than $100m from more than 1,500 victims around the world.

In a statement on Thursday, US Attorney General Merrick Garland said the Department of Justice had dismantled “an international ransomware network responsible for extorting and attempting to extort hundreds of millions of dollars from victims”.

The victims included hospitals, school districts, financial firms, and critical infrastructure, the statement said.

“Cybercrime is a constantly evolving threat. But as I have said before, the Justice Department will spare no resource to identify and bring to justice, anyone, anywhere, who targets the United States with a ransomware attack,”

Garland said.

A US government advisory last year said Hive ransomware actors victimised more than 1,300 companies worldwide from June 2021 through last November, receiving approximately $100m in ransom payments.

The seizure is the latest effort by the Department of Justice to tackle the scourge of ransomware, in which hackers lock up or encrypt victims’ computer networks, steal data and demand large sums.

The issue spurred national attention in the US after a cyberattack using ransomware forced a major American pipeline operator offline in 2021. The targeted company paid a multimilliondollar ransom that the US government largely recovered.

In Thursday’s statement, the Department of Justice said the FBI infiltrated Hive’s computer networks beginning in July 2022. The FBI captured decryption keys, which were then circulated to victims worldwide to help them avoid paying $130m in ransom, it said.

Budget 2023 “deficient...

From page 14 the budget as presented by Senior Finance Minister Dr. Ashni Singh failed to propose measures that will alleviate poverty.

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“Mr. Speaker, while this budget is some 41.4 percent larger than that of 2022, it is very clear that it will not be able to address the previously mentioned situations in Guyana nor will it address the financial insufficiencies of the citizens. Mr. Speaker, this visionless government while proposing to spend $781.9 billion has failed to propose any measures that will indeed address the high inflation rate and general cost-of-living,” the MP said.

He added, “Sir this budget is deficient in a poverty reduction strategy, a crime prevention plan and a permanent job creation strategy.”

It was reported by this publication that as part of measures highlighted in bud- get 2023, Dr. Singh had announced a $10,000 increase in the income tax threshold, $3,000 increase in public assistance and another $10,000 hike for parents with children attending schools between the nursery and secondary levels.

At a recent press conference hosted by the Leader of the Opposition, Aubrey Norton, the Economic Adviser attached to the Office of the Opposition Leader, Elson Low had noted that despite the yearly increases in the budget, the cost-of-living relief sum remains minimal.

Low had said, “This $5 billion is less than half of a percent of the national budget which is $782 billion and during the biggest cost of living crisis for the past 40 years; the government has decided to give less than a percent of this budget towards the cost of living mitigation.”

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He had asserted that, “Budget 2023 confirms that the Government is uncaring, and anti-poor. Budget 2023 confirms that the government has no national development plan …will not eliminate poverty, will not ensure that families can live comfortable and happy lives, and will not build world-class social services in health, education, public utilities, public safety, justice, and a clean environment. Budget 2023 confirms that the PPP is incapable of using our vast oil wealth to transform the lives of the Guyanese people.”