Summary
- The US Department of Justice announced the seizure of approximately $24 million in virtual assets from a developer of the malicious software 'Qakbot'.
- The funds were confirmed to be proceeds from cybercriminal activities, and the US Central District Court of California approved the forfeiture.
- The seized assets may be used for victim compensation, and there is a possibility of additional civil and criminal proceedings.
On the 23rd (local time), according to cryptocurrency media outlet Cointelegraph, the US Department of Justice announced that it had seized approximately $24 million in virtual assets from an individual identified as a key developer of the malicious software 'Qakbot'.
According to the US Federal Prosecutor, the funds were confirmed to be proceeds from cybercriminal activities, and the US Central District Court of California approved the forfeiture of the virtual assets.
The seized virtual assets were dispersed across various addresses and networks, and the US government stated that it tracked and recovered these funds through international cooperation.
Qakbot is one of the malicious botnets used to steal banking information and conduct ransomware attacks, having targeted global financial institutions and companies for years.
The botnet's core servers and infrastructure were dismantled in August 2023 through a joint operation 'Operation Duck Hunt' by the US Department of Justice and international law enforcement agencies.
The Department of Justice emphasized, "This action is part of the asset recovery process to deprive illegally obtained profits from cybercrime and aid in victim restitution."
Meanwhile, the seized virtual assets may be used to compensate crime victims, and there is a possibility of additional civil and criminal proceedings in the future.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
