LockBit hacker receives 4-year prison term for ransomware crimes.

TLDR:

A LockBit ransomware kingpin, Mikhail Vasiliev, has been sentenced to nearly four years in prison and ordered to pay over CA$860,000 in restitution.
Vasiliev, a dual Canadian-Russian national, was a part of the LockBit gang and faced charges in both Canada and the US.

Mikhail Vasiliev, a LockBit ransomware kingpin, has been sentenced to almost four years in prison by a Canadian court. The 34-year-old cybercriminal, who was described as a cyber-terrorist motivated by greed, pleaded guilty to multiple charges, including cyber-extortion and mischief. Vasiliev, a Canadian-Russian national, was part of the LockBit gang and faced charges related to his involvement with the ransomware group. He was arrested in 2022 and awaits extradition to the US to face additional charges.

The LockBit gang, known for extorting at least $120 million from over 2,000 victims since 2020, has been a major player in the ransomware landscape. Despite recent law enforcement efforts to dismantle the gang’s infrastructure, individual arrests remain slow. Vasiliev, along with two other suspects, has been named in connection with the group, with only one arrest made so far.

Court documents revealed evidence linking Vasiliev to cybercrime activities, including a file containing a list of potential victims and instructions on deploying LockBit ransomware. Vasiliev’s lawyer stated that his client turned to cybercrime during the pandemic out of desperation. While Vasiliev accepted responsibility for his actions, his sentencing serves as a stark reminder of the consequences faced by those involved in cybercriminal activities.

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LockBit hacker receives 4-year prison term for ransomware crimes

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