The name of the leader of the LockBit ransomware group

Today, the UK’s National Crime Agency (NCA) revealed the identity of the leader of the Lockbit ransomware as Russian national Dmitry Yuryevich Horoshev. This action follows previous enforcement actions UK and US as part of Operation Cronos, which targeted the Lockbit ransomware group, called “the world’s most damaging cybercrime group“.

Additionally, today the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Khoroshev and added one associated Bitcoin address to the Specially Designated Nationals (SDN) list. Subsequently, the US Department of Justice unsealed the indictment, and the US State Department is announcing a reward of up to $10 million for information leading to the arrest and/or conviction of Khoroshev.

LockBit ransomware targeted thousands of victims worldwide and caused billions of dollars in losses, both in ransom payments and recovery costs.

Khoroshev was active on cybercriminal forums under the username LockbitSupp. His identity has been the subject of much speculation, which Horoshev himself encouraged when he once offered a $10 million reward to anyone who could expose him.

How we can help

Elliptic has taken immediate action to ensure that the address involved in today’s action is available for review and tracking using our new generation Holistic blockchain analytics technology. Users will now be able to ensure that they do not inadvertently process funds originating from – or sent to – an entity included in this flag.

In addition, Elliptic is aware of hundreds of addresses associated with the Lockbit ransomware group. This data provides important information about the cryptocurrency wallet infrastructure used by one of the world’s most prolific ransomware gangs. This information can be used in two key ways:

• Cryptocurrency exchanges can use transaction verification tools such as Elliptic Navigator to identify all customer deposits originating from Lockbit wallets. In this way, they can help prevent money laundering, as well as provide timely intelligence to the police.
• Law enforcement agencies can “follow the money” using blockchain forensics tools like Elliptic Investigator to help potentially seize assets and identify those responsible.

To keep up with the latest crypto crime trends and make sure you’re protected, you can access insights from our global policy and research teams on the Elliptic blog.

Image source: National Crime Agency