US Puts Up $10 Million Bounty on Hive Ransomware Gang
In early February 2024, the US Department of State declared a $10 million reward for information concerning the leaders of the Hive ransomware cyber gang. This announcement comes approximately a year after law enforcement dismantled the Hive ransomware operation and seized the group's Tor-based website.
The Hive ransomware, initiated in June 2021, victimized over 1,500 entities. Before its shutdown, administrators and affiliates likely garnered over $100 million in ransom payments.
In January 2023, the US government revealed that multiple law enforcement agencies, including Europol, Dutch and German authorities, and the US Secret Service, collaborated in the action against Hive. The FBI, in particular, disclosed that its agents had breached the group's network in July 2022, obtaining decryption keys to aid victims and preventing cybercriminals from receiving up to $130 million in ransom demands.
Despite these efforts, authorities continued their work on identifying the malware developers, administrators, and other involved individuals in the Hive ransomware operation. The public was reminded of a $10 million reward for information on cybercriminals.
Further $5 Million of Ransomware Gang Leaders Arrested
In the recent announcement, the US offered a $10 million reward for Hive leaders and a further $5 million for information leading to the arrest and/or conviction of any individual associated with the Hive ransomware operation.
The Department of State's statement read, "Today, the Department of State is announcing a reward offer of up to $10,000,000 for information leading to the identification and/or location of any individual(s) who hold a key leadership position in the Hive ransomware variant transnational organized crime group."
Roger Grimes, KnowBe4 evangelist, expressed skepticism about the effectiveness of such rewards, noting that cybercriminals often reside in countries that do not cooperate with the US, where they can secure local authorities' protection or receive encouragement from national leaders.
