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The EU sanctions “the most active ransomware operator in history” Stern, with over $300 million in ransom funds flowing in

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ME News on July 15 (UTC+8): the U.S., the EU, and the UK jointly announced sanctions against a batch of entities involved in state-level hacker groups, cybercrime gangs, and their infrastructure providers. The targeted organizations were accused of causing losses worth billions of dollars to global enterprises, critical infrastructure, and government agencies. The most closely watched is the EU’s sanctions against Vitaly Nikolayevich Kovalev, a Russian national network criminal, using the alias “Stern.” The EU determined that Stern is one of the core administrators of the notorious Trickbot Group ransomware operation. The group is reported to include multiple high-risk ransomware variants under its umbrella, such as Conti ransomware and Ryuk. On-chain analysis shows that wallet addresses associated with Stern have received more than $300 million in ransom payments in total, potentially making him the “largest-scale ransomware operator” confirmed to date. Analysts say that the $300 million figure reflects only the revenue Stern personally earned, and the overall size of Trickbot’s illicit income could be far higher. On-chain fund flow indicates that Stern previously had transaction links with multiple ransomware ecosystems, including Ryuk, Conti, Diavol, Karakurt, Royal, and Quantum. Investigations indicate that within the Trickbot organization, Stern played a role similar to a “CEO,” responsible for budget management, staff hiring, infrastructure procurement, and formulating attack plans. (Source: ChainCatcher)
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