A Russian individual was extradited to the United States and appeared in federal court in Ohio on Thursday for his alleged involvement in a global cybercrime ring.
Russian National Develops a Ransomware Called "Trickbot"
In a recently published article in MSN News, according to the Justice Department, Vladimir Dunaev, 38 years old, is suspected of creating a malware for a gang responsible for the "Trickbot" trojan banking software and ransomware.
The Trickbot virus was created to steal the personal and financial information of millions of individuals all over the globe, resulting in enormous financial loss and damage to essential infrastructure in the United States and elsewhere.
According to a news statement from the Department of Justice Acting U.S. Attorney Bridget Brennan of the Northern District of Ohio, today's statement highlights the considerable extent to which federal law enforcement agents and the country's foreign allies will go to bring these accused cybercriminals responsibly, as per Washington Examiner reports.
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How Does the Malware Work?
Based on the court records, the malware's goal was to steal login passwords for internet banking and other personal information. This involves using web injects and keyboard recording to acquire credit card information, emails, passwords, dates of birth, social security numbers, and addresses from infected machines.
Furthermore, Dunaev stole money, caused computer damage, and stole sensitive information from people, financial institutions, school districts, utility companies, government bodies, and private enterprises, according to a report published in WHBL.
Moreover, between November 2015 and August 2020, he reportedly did so. Millions of individuals have been touched by the organization across the globe.
Another Person Alleged as a Member of the Trickbot Organization Arrested
In a published article in National Post, as part of the Trickbot organization, another individual has been detained and arraigned. According to the Department of Justice, Alla Witte of Latvia was charged with 19 counts in June, including conspiracy to conduct computer fraud and aggravated identity theft. She entered a "not guilty" plea.
Meanwhile, Dunaev is accused of conspiring to conduct computer fraud and aggravated identity theft, as well as conspiracy to commit wire and bank fraud and money laundering. He is also accused of wire fraud, bank fraud, and aggravated identity theft on several counts. Dunaev faces a maximum sentence of 60 years in federal prison if convicted. To all counts, he has pled "not guilty."
Cybercrime in the U.S.
Cybercrime, which is expected to cause $6 trillion in worldwide damages in 2021, would be the world's third-largest economy, if treated as a country, after the United States and China if it were assessed as a nation, according to a report published in Cybercrime Magazine.
Global cybercrime expenses are expected to increase by 15 percent each year over the next five years, reaching $10.5 trillion USD annually by 2025, up from $3 trillion USD in 2015. This is the largest transfer of economic wealth in history, it jeopardizes incentives for innovation and investment; it is tenfold greater than the damage caused by natural catastrophes in a year, and it will be more lucrative than the worldwide trade in all major illicit narcotics combined.
