Bitcoin Hacker Sentenced to 20 Years in Prison

Source: AdobeStock / BortN66


A Canadian man bought sentenced to 20 years in jail for his half in the infamous WebWalker ransomware assaults, the US Department of Justice (DoJ) announced.

35-year-old Quebec resident Sebastian Vachon-(*20*) was extradited to the United States thanks to the extradition treaty between this nation and Canada. Following a request submitted by US authorities, mentioned the announcement, Canadian legislation enforcement arrested the defendant in January 2021, and executed a search warrant at his dwelling.

The press launch acknowledged that,

“During the search, officers found and seized $742,840 in Canadian forex and 719 Bitcoin, valued at roughly $21,849,087 on the time of seizure and $14,463,993 as of in the present day.”

Currently, this quantity of bitcoin (BTC) is price $14.53 million.

Vachon-(*20*) was additionally ordered to forfeit $21.5 million.

The defendant labored with a legal gang and took part in a complicated type of ransomware that focused “dozens of victims all around the world,” mentioned the DoJ, citing courtroom paperwork.

US Attorney Roger B. Handberg was quoted as saying that the defendant focused “a whole lot of victims in quite a few international locations on the top of a global well being disaster.”

According to CBC, Vachon-(*20*) is a former IT specialist for Public Services and Procurement Canada. He pleaded responsible to 4 prices, together with pc fraud and transmitting a requirement in relation to damaging a protected pc in the US.

He can also be described as one of many Russian-speaking legal group’s “most prolific associates.”

Per this supply, Netwalker focused some 400 victims in greater than 30 international locations, and it collected $40 million in ransom funds.

Chainalysis discovered that greater than $46 million price of funds in WebWalker ransoms because it first appeared in August 2019. “It picked up steam in mid-2020, rising the typical ransom to $65,000 final 12 months, up from $18,800 in 2019,” the blockchain evaluation firm stated again in January 2021.

Source: Chainalysis

Who are the victims?

The victims didn’t embrace random people, the DoJ announcement recommended, however corporations, municipalities, hospitals, schools, universities, and even legislation enforcement and emergency providers.

“Attacks have particularly focused the healthcare sector throughout the COVID-19 pandemic, profiting from the worldwide disaster to extort victims,” it mentioned.

Assistant Attorney General Kenneth A. Polite, Jr. of the Justice Department’s Criminal Division acknowledged that Vachon-(*20*) recognized and attacked high-value ransomware victims after which profited from “the chaos brought on by encrypting and stealing the victims’ knowledge.”

Per an UpGuard publish, Netwalker is a Window’s particular ransomware that encrypts and exfiltrates the entire knowledge it will get.

“After a profitable assault, victims are offered with a ransom observe demanding a bitcoin cost in alternate for a full decryption of the compromised knowledge.”

It added that,

“Criminal associates obtain an extravagant proportion of every ransom cost, and with a limiteless incomes potential, they’re motivated to quickly unfold the ransomware far and extensive.”

The FBI Tampa Field Office investigated the case, and Special Agent in Charge David Walker was quoted in the DoJ announcement as saying that “this sentencing serves as a reminder to the American public that the FBI is dedicated to combatting cyber threats.”


Learn extra:
– Crypto Hacking, Theft Rise This Year While Scams, Darknet Markets Retreat – Chainalysis
– Binance CEO on Crypto Hacking, Regulation and Industry Outlook

– Crypto Wallets Top Target For Hackers: Cyber Expert
– Crypto Crimes Fall Relative To Last Year As Scam Revenue Drops 65%

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About the Author: Daniel