Germany and the U.S. shut down hacker network 'Hive'
A team of American and German researchers has shut down the Hive hacker network.
A team of American and German researchers has shut down the Hive hacker network. This was announced by the U.S. Department of Justice in a press release.
The group is believed to be responsible for more than 1,500 serious cyberattacks on companies and organizations. Among them were 70 German companies. Researchers estimate the damage caused runs into the billions. Hive is said to have netted more than $100 million.
Germany provides decisive clue
After an attack on a company from Esslingen (Baden-Württemberg), local authorities managed to breach the attackers' IT infrastructure and locate the Hive network. Authorities subsequently secured data and accounts of the network and its users, according to the Stuttgart public prosecutor's office. Meanwhile, the Hive Ransomware website is offline on the Darknet.
Cyber extortionists less successful
The scam works like this: The hackers encrypt the victims' systems with malware. They then demand ransom and threaten to release sensitive data. Payments are often accepted in cryptocurrencies.
Cyberattacks via ransomware remain one of the biggest threats on the internet. Last year the attacks, in general, increased, but the total amount stolen declined. The U.S. analytics firm Chainalysis explains the phenomenon as a declining willingness to pay.
