Thursday, April 18, 2024

G7 Leaders asked Russia to Urgently Disrupt Ransomware Gangs Operating within its Borders

In a recent week, the rate of ransomware attacks has increased rapidly, and this was being closely scrutinized by the CEO of the National Cyber Security Centre, Lindy Cameron. 

During her analysis, she identified that most of the attacks were being initiated by Russia and China. And soon after that, the G7 leaders have demanded Russia to immediately suspend all the ransomware gangs that are targeting them.

All the G7 leaders, Canada, the United Kingdom, France, Germany, and Japan along with the United States have carried their very first summit in the past two years from June 11th to 13th.

After asking Russia to suspend all the ransomware gangs, the G7 leaders also pronounced that they will keep a stable relationship with Russia, and will have further communication as well as all other affairs in the areas of common interests.

At the same time, G7 leaders also hope that Russia will keep its words and will able to stop all these destabilizing ransomware attacks and vicious activities. 

However, the main motive of this summit is to work together so that all seven members can address the escalating and immediate ransomware threat, since, in recent times, taking down the ransomware gangs and their attacks has become a global challenge.

Moreover, G7 leaders also affirmed that they have called nearly all states to disrupt ransomware attacks that are operating from their borders. But the leaders mainly requested Russia as most of the ransomware attacks were operated by Russian ransomware groups.

According to the report of the G7 leaders, the hackers from Russia are not only responsible for ransomware attacks, but also responsible for abusing the cryptocurrency to approve all the demanded ransom, and these hackers are also involved in other cybercrimes.

However, the United States feels that the threat that is posed by ransomware is corresponding to terrorism. These attacks have increased so much and the threat actors have gained a lot of ransom from the states.

G7 claims that if they consider only the Colonial Pipeline and meat processor JBS attack, then through this ransomware attack the threat actors have obtained approximately $15 million ransom from these two victims only.

The report describes that Colonial has paid more than $4 million in bitcoin and on the other hand the JBS has paid nearly $11 million. 

All these ransomware payments were done so that the threat actors will not leak the hijacked data all over the internet, as well as to regain all the data that has been hijacked and encrypted by the threat actors.

After seeing the G7 leaders working together, President Biden also agreed to work with them, so that they can stop all the cyber threats, and not only this but they will also ask other countries to suspend all the cybercriminal threats groups that are operating all campaigns from their borders.

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Guru baran
Guru baran
Gurubaran is a co-founder of Cyber Security News and GBHackers On Security. He has 10+ years of experience as a Security Consultant, Editor, and Analyst in cybersecurity, technology, and communications.


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