Hive ransomware: Modern, efficient business model

An image of a seized ransomware website is displayed at a press conference where the US Attorney General Merrick Garland made an announcement on an international ransomware enforcement action at the US Justice Department on Jan 26, 2023 in Washington, DC. The Justice Department announced that the FBI has seized the website of Hive, a notorious ransomware gang, which has extorted more than US$100mil from victim organisations. — AFP

WASHINGTON: The US Justice Department’s shutdown Jan 26 of the Hive ransomware operation – which extorted some US$100mil (RM422.95mil) from more than 1,500 victims worldwide – highlights how hacking has become an ultra-efficient, specialised industry that can allow anyone to become a cyber-shakedown artist.

Modern business model