$2 billion worth of cryptocurrency seized, more than 500 ransomware attacks prevented

According to a recent report from Bloomberg, HSI, an agency within the U.S. Department of Homeland Security, has prevented more than 500 ransomware attacks and frozen more than $2 billion in cryptocurrency since 2021.

This particular element of HSI’s broader cyberspace crime investigation aims to identify ransomware threats before they turn malicious. Global Target, also known as HSI’s Cybercrime Center, takes a proactive approach by studying Internet traffic, investigating software weaknesses and taking action before hackers, says Mike Prado, deputy director.

Ransomware plot halted and cryptocurrency confiscated

From October 2023 to September 2024, HSI effectively blocked 150 ransomware attempts. The total number of aborted attempts since the start of the task reached 537. This proactive behavior includes providing information to federal, state, and local governments, businesses, and other potential targets of cyberattacks, sometimes well before an actual attack occurs.

In addition to thwarting cyberattacks, HSI has seized approximately $4.3 billion in cryptocurrency used in ransomware payments, $180 million of which was recovered in 2023. While hackers are being apprehended, extortion payments or stolen assets related to cryptocurrency exchanges are detected by the agency.

Cybercriminals continue to launch ransomware attacks targeting a variety of industries, including healthcare and small and medium-sized businesses.

HSI said that although most of the operation is still under investigation, it is determined to combat cybercriminals as its ransomware team continues to look for vulnerable targets, primarily U.S. government hospitals. Work with federal employees and local law enforcement to prevent threats and reduce risk to targeted organizations.

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