Homeland Security Investigations (HSI), a branch of the U.S. Department of Homeland Security, has stopped more than 500 ransomware attacks and frozen over $2 billion in cryptocurrency since 2021, according to a recent Bloomberg report.
But how exactly has HSI achieved such remarkable success? Read on to discover the inside story of HSI’s cybercrime investigations.
This particular element of HSI’s broader cyberspace criminal investigation is aimed at identifying possible ransomware threats before they turn malicious. Global Target, also known as HSI’s Cyber Crimes Center has a proactive approach by studying internet traffic, looking into software weaknesses, and acting prior to hackers, says Mike Prado, the Deputy Assistant Director.
Between October 2023 and September 2024, HSI blocked 150 ransomware attempts, raising the total to 537 since the operation began. This effort involves sharing critical information with government agencies, companies, and other potential targets—often well before they are attacked.
Along with preventing attacks, HSI has seized about $4.3 billion in cryptocurrency connected to ransomware payments, with $180 million recovered in 2023. These funds are often tied to extortion payments made through crypto exchanges or assets stolen during hacker arrests.
Cybercriminals continue to launch ransomware attacks on industries like healthcare and small businesses. HSI has been careful not to reveal too many details about its tactics, as many operations are ongoing. Still, the agency remains committed to protecting U.S. government hospitals and other targets from being exploited.
HSI works closely with federal and local law enforcement to reduce risks and stop cyber threats before they cause damage.
Stay informed about the latest cyber threats right here on Coinpedia.
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