image credit: Adobe Stock

Black Basta ransomware operation nets over $100M from victims in less than two years

November 30, 2023


The Black Basta ransomware group has reportedly generated upwards of $100 million in revenue since it started operations in April 2022.

Joint research from Corvus Insurance and blockchain analysis company Elliptic estimates the crew has scooped up at least $107 million in criminal proceeds after analyzing payments made to its known cryptocurrency wallet addresses.

Black Basta is believed to be a ransomware offshoot of the former Conti group, assembled before its closure in May 2022. The group is thought to be comprised, at least in part, of former Conti members and first emerged in April 2022.

Read More on The Register