Lockbit Hacker Fined 860,000 in Damages for Ransomware Operation

A 34-year-old Russian-Canadian national, Mikhail Vasiliev, residing in Ontario, has been sentenced to nearly four years in jail in Canada for his involvement in the global ransomware operation, LockBit.

Vasiliev was arrested in November 2022 and charged by the U.S. Department of Justice (DoJ) for conspiring with others to intentionally damage protected computers and transmit ransom demands. His sentencing was reported by CTV News.

Authorities discovered that Vasiliev kept a list of potential victims and screenshots of communications with “LockBitSupp” on the Tox messaging platform.

A search of his home uncovered a text file with instructions to deploy LockBit ransomware, the ransomware’s source code, and a control panel used by the e-crime group to deliver the malware.

Vasiliev pleaded guilty to eight counts of cyber extortion, mischief, and weapons charges last month. During sentencing, Justice Michelle Fuerst described him as a “cyber terrorist” motivated by greed.

He reportedly began his criminal activities during the COVID-19 pandemic, attempting to extort ransom payments from three Canadian companies between 2021 and 2022 by stealing and holding their data hostage.

Additionally, Vasiliev has agreed to be extradited to the U.S. and has been ordered to pay over $860,000 in restitution.

Josh Alba
Josh Alba
Josh Alba stands at the forefront of contemporary business journalism, his words weaving narratives that illuminate the intricate workings of the corporate world. With a keen eye for detail and a penchant for uncovering the underlying stories behind financial trends, Josh has established himself as a trusted authority in business writing. Drawing from his wealth of experience and relentless pursuit of truth, Josh delivers insights that resonate with readers across industries.
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