Russian Ransomware Projects Rebranded to Avoid Western Sanctions Report

Rebranding and restructuring their operations allowed some ransomware syndicates to strengthen anonymity amid Western sanctions. TRM Labs revealed that some major Russian-linked ransomware syndicates rebranded their activities in 2022 to avoid sanctions from Western countries. According to a new report published recently, the rebranding and other significant activities showed notable changes in the cybercrime space and darknet markets (DNMs) after Russia invaded Ukraine. Similarly, sanctions imposed by the U.S. Office of Foreign Assets Control (OFAC) on the popular darknet platform Hydra took a toll on ransomware projects as they struggled to gain market dominance while avoiding law enforcement agencies. To strengthen their anonymity through alterations in on-chain behavior, two major ransomware syndicates.