Washington - Oct 15 Reuters - The U.S. Treasury said friday that suspected ransomware payments totaling $590 million were made in the first six months of this year, more than the $416 million reported for the whole of 2020. At the same time, Washington placed the cryptocurrency industry on alert about its role in combatting ransomware attacks.
The Treasury reported the average amount of ransomware transactions reported in 2021 was $102.3 million, with REvil Sodinokibi, Conti, DarkSide, Avaddon and Phobos the most prevalent ransomware strains reported.
The Treasury said in an effort to stop the use of crypto currencies in the payment of ransomware demands that they are responsible for making sure they do not directly or indirectly help facilitate deals that are prohibited by U.S. sanctions.
Its new guidance called for the virtual currency industry to play an increasingly critical role in preventing those blacklisted from exploiting virtual currencies to evade sanctions.
Treasury is helping to stop ransomware attacks by making it difficult for criminals to profit from their crimes, but we need partners in the private sector to help prevent this illicit activity, Deputy Treasury Secretary Wally Adeyemo said in a statement.