TECH NEWS – According to the Department of Justice (DoJ), the man allegedly stole an astonishing $18 billion over three years.

The DoJ has placed an $11 million bounty on Volodymyr Viktorovich Tymoshchuk, a Ukrainian citizen also known by the aliases Deadforz, Boba, msfv, and Farnetwork. He is accused of masterminding the MegaCortex, LockerGoga, and Nefilim ransomware attacks that hit more than 250 U.S. companies and many others worldwide. Authorities say the damages from these operations totalled $18 billion.

LockerGoga was used in the infamous attack on Norway’s Norsk Hydro, crippling all 170 of its sites and causing $81 million in damages. When cybersecurity experts cracked the code of these early ransomware strains, Tymoshchuk allegedly pivoted to developing and managing Nefilim, leasing it to third-party attackers in exchange for 20% of their illicit earnings. While MegaCortex was initially aimed at corporations, it also ended up targeting individual users. Nefilim, by contrast, focused exclusively on firms worth at least $100 million.

“Volodymyr Tymoshchuk has been charged for his role in ransomware schemes that extorted hundreds of businesses. This prosecution and today’s reward announcement underscore our determination to protect enterprises from digital sabotage and extortion, and to relentlessly pursue the criminals responsible,” said Matthew R. Galeotti, Acting Assistant Attorney General.

“Tymoshchuk is a serial ransomware criminal who hit American blue-chip firms, healthcare institutions, and major international companies. He once stayed ahead of investigators by rolling out new malware strains as soon as old ones were cracked. These charges highlight international coordination to expose and indict a dangerous ransomware figure who can no longer hide in the shadows,” said U.S. Attorney Joseph Nocella Jr.

According to the indictment, most of Tymoshchuk’s extortion attempts failed, as federal agents often warned targeted firms before the ransomware could execute. In 2022, the No More Ransomware initiative publicly released decryption keys for both LockerGoga and MegaCortex. Tymoshchuk faces seven counts in total, including conspiracy to commit fraud, unauthorized access, damaging protected computers, and extortion. If convicted, he could face life imprisonment.

Source: PCGamer, DoJ, Tom’s Hardware