Russian citizen tried to pay with Bitcoin to hack into company

Throughout history, whenever a new technological advance has been developed, humanity has found a way to use it for good and evil. Thus, crime has been a constant even with such important advances as the Internet. And crypto-currencies are no exception, as they are often used by cyber-criminals for immoral purposes. That’s why today we’re going to talk about Egor Kriushkov, the Russian citizen who tried to pay with Bitcoin to hack into a company.

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In recent years, the rapid expansion of the Internet has had an impressive impact worldwide. Improving the lives of millions of people and enabling an era of continued economic growth. Unfortunately, the Internet has also led to the emergence of cybercriminals, who take advantage of this technology to try to obtain personal gain by illegal means.

And one of the most widely used methods by cyber-criminals is so-called ransomware. A process by which hackers enter a company’s servers. Blocking access to the company’s files until a reward is paid, usually in Bitcoin or some other crypto currency.

This has led to the crypto world becoming known as a means for criminals to legitimize the capital obtained from attacks like these. Although, in fact, most criminal transactions in the world are conducted with fiat money. This does not prevent cases such as that of Egor Igorevich Kriuchkov, a Russian citizen who attempted to carry out a ransomware attack on US territory.

Russian citizen tried to pay with Bitcoin to carry out ransomware against a US company

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Thus, according to the information provided by the US authorities, Kriuchkov is said to have entered the US country in mid-July. He contacted the employee of an unidentified company, who was offered $500,000 in Bitcoin to install a virus on his company’s servers. With which the group of Russian hackers that Kriuchkov represented could carry out the attack.

Since then, and until the arrest of the Russian citizen a few days ago, the two individuals held constant meetings. In which Kriuchkov tried to convince the employee with the payment of entertainment, and the increase in the payment offer from 500,000 to 1,000,000 dollars in Bitcoin.

However, this does not appear to have been enough to convince the worker, identified only as CHS1. He would have contacted the FBI and company officials. Leading to the arrest of Kriuchkov, who is being prosecuted by authorities in the state of Nevada. If found guilty of the attempted cyber-attack, the Russian citizen could face up to five years in prison and a $250,000 fine.

This would be just the latest example of a type of cyber-attack that is becoming increasingly common worldwide. It aims to take advantage of the benefits of crypto-currency in direct monetary transactions, to avoid the authorities. Despite this, in most cases these cyber-criminal groups are identified and disarmed. Just as happened with Kriuchkov and his attempt at hacking.

30. August 2020