By Frank Bajak

The State Department will offer rewards up to $10 million for information leading to the identification of anyone engaged in foreign state-sanctioned malicious cyber activity, including ransomware attacks, against critical U.S. infrastructure. A task force set up by the White House will coordinate efforts to stem the ransomware scourge.

The Biden administration is also out with a website, stopransomware.gov, that offers the public resources for countering the threat and building more resilience into networks, a senior administration official told reporters.

In another move Thursday, the Treasury Department's Financial Crimes Enforcement Network will work with banks, technology companies and others on better anti-money-laundering efforts for cryptocurrency and more rapid tracing of ransomware proceeds, which are paid in virtual currency.

Officials are hoping to seize more extortion payments in ransomware cases, as the FBI did in recouping most of the $4.4 million ransom paid by Colonial Pipeline in May.

The rewards come from the State Department's Rewards for Justice program. It will offer a tips-reporting mechanism on the dark web to protect sources who might identify cyber attackers and/or their locations, and reward payments may include cryptocurrency, the agency said in a statement.

The administration official would not comment on whether the U.S. government had a hand in Tuesday's online disappearance of REvil, the Russian-linked gang responsible for a July 2 supply chain ransomware attack that crippled well over 1,000 organizations globally by targeting Florida-based software provider Kaseya. Ransomware scrambles entire networks of data, which criminals unlock when they get paid.

Cybersecurity experts say REvil may have decided to drop out of sight and rebrand under a new name, as it and several other ransomware gangs have done in the past to try to throw off law enforcement.

Another possibility is that Russian President Vladimir Putin actually heeded President Joe Biden's warning of repercussions if he didn't rein in ransomware criminals, who enjoy safe harbor in Russia and allied states.

That seemed improbable, however, given Kremlin spokesman Dmitry Peskov's statement to reporters Wednesday that he was unaware of REvil sites disappearing.

"I don't know which group disappeared where,” he said. He said the Kremlin deems cybercrimes “unacceptable” and meriting of punishment, but analysts say they have seen no evidence of a crackdown by Putin.

The White House updated lawmakers Wednesday on the administration’s response to the recent rash of high-profile ransomware attacks, a threat it has deemed a national security priority.

Sen. Angus King, an independent from Maine, said he was impressed with the “thoroughness with which they are confronting this issue,” particularly with outreach to the private sector.

___

Associated Press writer Daria Litvinova in Moscow and Alan Suderman in Richmond, Virginia, contributed to this report.

Share:
More In Business
Klarna shares jump 30% on Wall Street debut
Swedish buy now, pay later company Klarna is making its highly anticipated public debut on the New York Stock Exchange Wednesday, the latest in a run of high-profile initial public offerings this year. The offering priced at $40 Tuesday, above the forecasted range of $35 to $37 a share, valuing the company at more than $15 billion. The valuation easily makes Klarna one of the biggest IPOs so far in 2025, which has been one of the busier years for companies going public. Other popular IPOs so far this year include the design software company Figma and Circle Internet Group, which issues the USDC stablecoin..
Musk loses crown as world’s richest to software giant Larry Ellison
Oracle co-founder Larry Ellison wrested the title of the world’s richest man from longtime holder Elon Musk early Wednesday as stock in his software giant rocketed more than a third in a stunning few minutes of trading. That is according to wealth tracker Bloomberg. A college dropout, the 81-year-old Ellison is now worth $393 billion, Bloomberg says, several billion more than Musk, who had been the world’s richest for four years. The switch in the ranking came after a blockbuster earnings report from Oracle. Forbes still has Musk as the richest, however, valuing his private businesses much higher.
Load More