Embargo Ransomware Group Amasses $34M in Crypto Since April 2024

The Embargo ransomware group has amassed over $34 million worth of cryptocurrency since April 2024, according to TRM Labs. This group is suspected to be linked to the defunct ALPHV/BlackCat operation, known for technical overlaps like Rust malware and similar leak operations. The group’s continued activity poses a heightened risk to sectors such as healthcare, as highlighted by concerns from exchanges and compliance teams regarding potential delays in laundering activities.