US Department of Justice Seizes $22 Million in Bitcoin from Man Participating in Ransomware Attacks

US Department of Justice Seizes $22 Million in Bitcoin from Man Participating in Ransomware Attacks

The US Department of Justice has seized 719 bitcoins from 35-year-old Canadian Sebastien Vachon Desjardins for his participation in the NetWalker ransomware attacks.

At the time of booking, the amount of the cryptocurrency was approximately $22 million.

Jail time for the criminal

According to the post Advertising, Vachon-Desjardins was involved in a complex type of ransomware known as NetWalker. The malware targeted victims all over the world, including businesses, emergency services, and colleges and universities. It should be noted that the main focus of the attacks was on the healthcare sector during the COVID-19 pandemic.

Assistant Attorney General Kenneth A.

As a result of the investigation, the US Department of Justice seized $742,840 in Canadian dollars and 719 BTC. At the time of the confiscation, the cryptocurrency was worth $21.8 million, while today it is worth $14.4 million.

In addition, US authorities secured the man’s extradition to the United States and sentenced him to spend the next 20 years in federal prison. Kenneth A. believes. Bullitt Jr. says harsh punishment can serve as a model for those who believe they can exploit victims in this way.

Commenting on the matter was David Walker, the special agent in charge of the FBI in Tampa:

“This ruling serves as a reminder to the American public that the FBI is committed to combating cyber threats through its world-class capabilities and enduring partnerships in law enforcement. Our cyber task forces are working aggressively to expose and bring to justice cyber adversaries who abuse US citizens.”

Other recent cases

A month ago, Florida resident Joshua David Nicholas admitted that he and other members of cryptocurrency platform EmpiresX defrauded investors of $100 million in digital assets.

Criminals lured users that their entity uses artificial and human intelligence to increase profitability. Instead, EmpiresX operated as a typical Ponzi scheme and was not registered with US financial regulators.

Nicholas pleaded guilty to one count of conspiracy to commit securities fraud, which resulted in a maximum sentence of five years in federal prison.

In August, US law enforcement agents charged three Miami, Florida residents – da Corte, Gonzalez and Meza – with stealing more than $4 million from banks and cryptocurrency exchanges.

The men bought cryptocurrency from the platform using fake IDs. Later, they complained to financial institutions that these transactions took place without the necessary authorization, and demanded a refund.

After a successful investigation, the Homeland Security Investigations (HSI) identified the fraud and brought the criminals to justice. They face a 30-year prison sentence behind bars.

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