The seizure is the largest ever related to ransomware, Chainalysis said.
Law enforcers seized just under 720 bitcoins and 15.7 monero (XMR), equating to over $29.4 million at today’s prices.
NetWalker attackers extorted tens of millions of dollars from businesses and governments in 2020, burrowing into and encrypting victims’ computer networks. It followed a ransomware-as-a-service model whereby individual hackers conducted the attacks and then shared the profits with NetWalker.
One such hacker was Sebastien Vachon-Desjardins whom Chainalysis said had netted more than $14 million in bitcoin since February 2018, worth $27 million by January 2021.
Earlier this month Vachon-Desjardins was jailed for seven years in Canada after pleading guilty to a number of charges including “participating in the activities of a criminal organization”.
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