Blockchain intelligence firm TRM Labs said in a report that a ransomware group called Embargo has processed about $34.20 million in cryptocurrency since it emerged in April 2024, with victims concentrated in the United States and involved in healthcare, business services, and manufacturing.
TRM speculates that Embargo is likely an upgrade or successor to the BlackCat/ALPHV ransomware, citing technological overlaps between the two, such as Rust-based malicious software, similar leak site design, and on-chain linking through a shared wallet infrastructure.
TRM said the group's known targets include United Pharmacy of America, Memorial and Manor Hospital in Georgia and Wether Memorial Hospital in Idaho, which have ransom demands up to $1.30 million.
Report: $34 million Cryptocurrency Payment Tracked to Embargo Ransomware Group
2025-08-11 09:44:52
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