• G7 Leaders Ask Russia to Urgently Identify Those Who Abuse Cryptocurrency in Ransomware Attacks

  • The G7 leaders have urged Russia to “identify, disrupt, and hold to account” ransomware hackers and those who use cryptocurrency to launder ransoms as soon as possible.

    The G7 leaders stated, “We reiterate our interest in stable and predictable relations with Russia, and we will continue to engage where there are areas of mutual interest.”

    The G7 nations have asked Russia to help them track down and stop ransomware hackers who are abusing cryptocurrency. On June 11-13, the leaders of the G7 countries convened in Cornwall, England. Ransomware assaults involving cryptocurrencies were one of the many things they explored. The G7 consists of the United States, the United Kingdom, Japan, Germany, France, Italy, and Canada.

    “We affirm our interest in stable and predictable ties with Russia, and we will continue to engage where there are areas of shared interest,” says a communiqué released after a leaders’ conference on Sunday.

    We specifically encourage Russia to swiftly… identify, disrupt, and prosecute individuals operating ransomware operations, using virtual currency to launder ransoms, and other cybercrimes within its borders.

    Apart from cybercrime, the G7 leaders demanded that Russia “examine and honestly explain the use of a chemical weapon on its soil” and “stop its systematic crackdown on independent civil society and media.”

    The FBI believes the attackers were part of Russian cybercriminal groups after numerous large corporations in the United States were attacked with ransomware assaults recently. The hackers demanded bitcoin as payment. The Revil Group, nicknamed Sodinokibi, is suspected of being behind the attack on JBS, a meat processing facility, according to the bureau. The ransomware attack against Colonial Pipeline is likely to have been carried out by the cyber organization Darkside.

    “Combating ransomware is a priority for the administration,” the Biden administration said earlier this month, adding that it would extend bitcoin analyses to combat ransomware attacks.

    G7 finance ministers and central bank governors convened in London earlier this month. They talked on central bank digital currency regulation and resolved to “work toward shared principles and publish results later this year.”

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