US Offering up to $10 Million for Information to Combat Overseas Ransomware Attacks

BOSTON, MASSACHUSETTS - The U.S. government said Thursday it will begin offering up to $10 million for information to identify or locate malicious cyber actors working on behalf of a foreign government that are trying to cripple the internet operations of American businesses and infrastructure.

The new reward was announced as the U.S. faces a growing threat from ransomware attacks – the demand from foreign entities that U.S. corporations and institutions pay millions of dollars to unlock critical technology systems that hackers have seized. The attacks have usually originated overseas, frequently from Russia, according to U.S. officials. Already this year, one of the largest pipeline operators in the U.S., a major meat processing company and, most recently, hundreds of small businesses have been hit by ransomware, forcing companies to pay millions of dollars to restore their operations or risk losing vital data. The U.S. says that about $350 million in ransom was paid to malicious cyber actors in 2020, a more than 300% increase from the year before.