Embargo ransomware group moved $34M in crypto since April: TRM Labs

TRM Labs says the Embargo ransomware group has moved over $34 million in ransom-linked crypto since April, targeting US hospitals and critical infrastructure.

A relatively new ransomware group known as Embargo has become a key player in the cybercrime underground, moving over $34 million in crypto-linked ransom payments since April 2024.

Operating under a ransomware-as-a-service (RaaS) model, Embargo has hit critical infrastructure across the United States, with targets including hospitals and pharmaceutical networks, according to blockchain intelligence firm TRM Labs.

Victims include American Associated Pharmacies, Georgia-based Memorial Hospital and Manor, and Weiser Memorial Hospital in Idaho. Ransom demands have reportedly reached up to $1.3 million.

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