The US Justice Department has initiated a criminal investigation into a former employee of DigitalMint, suspected of making deals with hackers to take a cut of the cryptocurrency used for ransom payments.
Investigation Details
The investigation centers around a former negotiator accused of unauthorized conduct during their employment at DigitalMint. According to President Marc Grens, the employee was immediately terminated once the allegations surfaced.
> "The investigation evidently involves alleged unauthorized conduct by the employee while employed here."
DigitalMint's Position on the Incident
Grens stated that DigitalMint is not a target of the investigation and has been cooperating fully with law enforcement. He emphasized that the company acted swiftly to protect its clients and began communicating with affected stakeholders as soon as they were able.
Trends in Ransom Payments
According to a report by Coveware, fewer companies are succumbing to extortion demands, with only 25% of those facing such demands agreeing to pay in the last quarter of 2024. This marks a significant decrease compared to previous quarters.
The firm noted that this decline could be attributed to improved cybersecurity practices and increased law enforcement efforts.
The alleged misconduct of the former DigitalMint employee highlights the importance of ethical practices in business, particularly in the critical field of cybersecurity. There is a growing recognition among market participants of the need to enhance protective strategies and refuse to fund cybercriminals.
