Earlier today, Ukrainian law enforcement announced the arrest of a cybercrime gang that has allegedly earned more than $42 million from cyberattacks. The group used sophisticated ransomware to encrypt its victims’ data and demand payment for decryption codes, threatening to leak the sensitive information if the ransom is not paid. The arrests were a part of a larger Ukrainian campaign named “Bulletproof Exchanger” that aims to identify hubs of malicious activity and track down threat actors.

Bulletproof exchanger refers to a high-risk exchanging service in which criminal activity occurs as a money-making method, such as deploying ransomware. Ukraine decided to devote research efforts to this problem because similar operations and rogue cashout points have been critical to the Ukrainian underground criminal economy.

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