In a twist of irony, the notorious Babuk ransomware group, known for extorting funds from victims, has itself fallen prey to a significant cryptocurrency heist. In September 2024, the Indonesian cryptocurrency exchange Indodax suffered a security breach, resulting in the theft of approximately $20 million. Among the victims of this breach was the Babuk group, which lost a substantial portion of its illicit gains. Babuk’s Operations and Financial Practices The Babuk ransomware group re-emerged on January 26, 2025, announcing their “Babuk 2.0 Project.” As part of their operations, they utilized…
Read MoreBabuk Ransomware Group Loses Ransom Funds in Indodax Exchange Hack
