U.S. Bans Crypto Addresses Tied to LockBit Ransomware Group From Financial System

“The LockBit ransomware variant, like other major ransomware variants, operates in the ‘ransomware-as-a-service’ (RaaS) model, in which administrators, also called developers, design the ransomware, recruit other members — called affiliates — to deploy it, and maintain an online software dashboard called a ‘control panel’ to provide the affiliates with the tools necessary to deploy LockBit,” the DOJ press release said.