Bitsky

08/11 04:46

Embargo ransomware group has moved more than $34 m

Embargo ransomware group has moved more than $34 million in cryptocurrency since April, using it to demand ransoms, says TRM Labs

The Embargo ransomware group has moved more than $34 million in cryptocurrency since April, using it to demand ransoms while targeting hospitals and critical infrastructure in the United States, according to TRM Labs.



A relatively new ransomware group called Embargo has become a key player in the cybercrime underground, moving more than $34 million in cryptocurrency since April 2024.

Embargo has targeted critical infrastructure across the United States, including hospitals and pharmaceutical chains, using a ransomware-as-a-service (RaaS) model, according to blockchain analytics firm TRM Labs.

 Victims include American Associated Pharmacies, Memorial Hospital and Manor in Georgia, and Weiser Memorial Hospital in Idaho. Ransom demands reportedly reached $1.3 million.

  TRM’s investigation suggests that Embargo may be a rebranded version of the infamous Operation BlackCat (ALPHV), which went into hiding after an alleged exit scam earlier this year. The two groups share some technical aspects: they use the Rust programming language, operate similar data leak sites, and display on-chain connections via shared wallet infrastructure.

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