DHS Investigators Prevent Hundreds of Ransomware Attacks, Seize Billions Since 2021

Author

Ruholamin Haqshanas

Author

Ruholamin Haqshanas

About Author

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Author Profile

Share

Copied

Last updated: 

October 6, 2024

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

The Department of Homeland Security (DHS) has disrupted hundreds of crypto scam incidents, reclaiming billions in extorted cryptocurrency since 2021.

According to a recent report from Bloomberg, DHS investigators have intercepted 537 ransomware attacks before they could cause widespread damage.

The effort, led by the Homeland Security Investigations (HSI) Cyber Crimes Center, has proven particularly vital for the protection of U.S. government agencies, which have been the primary targets of these cyber threats.

21% of Attacks Were Directed at U.S. Government Agencies

Mike Prado, Deputy Assistant Director of HSI’s Cyber Crimes Center, highlighted that 21% of the foiled attacks were directed at U.S. government agencies, surpassing the number aimed at any other sector.

Prado explained that HSI’s proactive approach to cyber threats involves close monitoring of internet traffic, analysis of potential vulnerabilities, and keeping track of emerging tactics used by ransomware groups.

HSI agents focus on identifying signs of suspicious activity and software weaknesses that cybercriminals could exploit.

This vigilant approach enables them to detect potential breaches, sometimes even before they occur, and take preventive action.

Despite these achievements, Prado acknowledged the challenges in building legal cases against hackers when attacks are stopped preemptively.

The division’s efforts have also led to the recovery of substantial amounts of cryptocurrency.

Since its inception, HSI has tracked and seized $4.3 billion worth of digital assets from exchanges and hackers’ devices, which were obtained through extortion.

Prado noted that several cybercriminal groups outside the U.S. remain under surveillance as they continue to seek ways to acquire cryptocurrency through illicit means.

When an attack does occur, HSI works swiftly to notify potential victims, including government agencies and businesses, about imminent threats.

This coordination extends across 235 field offices in the U.S., local law enforcement, and other federal agencies, aiming to mitigate the impact of these attacks.

A broader look at the ransomware landscape reveals a troubling trend. A mid-year update from Chainalysis, published on August 15, indicated that ransomware payments have surged by 2% in 2024, rising from $449.1 million to $459.8 million.

The total crypto ransomware payments for 2023 reached $1 billion, with the size of individual payments increasing significantly.

Notably, the maximum payment size climbed 96% compared to 2023 and a staggering 335% from 2022.

One notable incident involved the Dark Angels ransomware group, which received a record-breaking $75 million payment in July 2024.

Crypto Users Lose $46M to Phishing Scams in September

Phishing attacks remain a major issue for crypto users, resulting in substantial losses.

In September alone, more than 10,000 individuals lost over $46 million to such scams, as reported by Scam Sniffer, a Web3 anti-scam platform.

The platform revealed that 10,805 victims suffered losses amounting to $46.7 million from various crypto phishing scams last month.

These incidents contributed to a total of $126 million in phishing-related losses during the third quarter of this year, with an average of 11,000 victims each month.

Notably, two major incidents accounted for $87 million of these losses.