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TRM Labs: Ransomware Organization Embargo Transfers $34 Million in Cryptocurrency Since April
Summary: According to reports, blockchain intelligence company TRM Labs stated that a ransomware organization named Embargo has transferred over $34 million in ransom-related cryptocurrency since April. Embargo currently holds around $18.8 million in cryptocurrency in non-affiliated wallets, with experts believing this strategy may be to delay detection or take advantage of better money laundering conditions in ...
According to reports, blockchain intelligence company TRM Labs stated that a ransomware organization named Embargo has transferred over $34 million in ransom-related cryptocurrency since April. Embargo currently holds around $18.8 million in cryptocurrency in non-affiliated wallets, with experts believing this strategy may be to delay detection or take advantage of better money laundering conditions in the future. Embargo operates on a Ransomware as a Service (RaaS) model, targeting industries with high downtime costs such as healthcare, business services, and manufacturing, and tends to attack victims within the United States, possibly due to their stronger payment capabilities.
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Link: TRM Labs: Ransomware Organization Embargo Transfers $34 Million in Cryptocurrency Since April [Copy]
