Ukrainian national faces 10-year sentence after guilty plea for ransomware attacks

Source Cryptopolitan

A Ukrainian national has pleaded guilty to multiple crimes due to his involvement in a string of ransomware attacks targeting firms in the United States and Europe. Artem Aleksandrovych Stryzhak, a 35-year-old Ukrainian national, was accused of targeting these organizations from 2018 to late 2021.

According to reports, the Ukrainian could face up to 10 years in prison for conspiracy to commit fraud, including extortion. The Ukrainian was arrested in Spain in June 2024 and was subsequently extradited to the United States in April.

Authorities are still on the lookout for his co-conspirator, Volodymyr Tymoshchuk, who now has a bounty of $11 million for any information leading to his arrest.

Ukrainian pleads guilty over ransomware crimes

Joseph Nocella, the United States attorney for the Eastern District of New York, said in a statement that the defendant used Nefilim ransomware to target high-revenue companies in the United States. He would often steal data and encrypt it, only agreeing to release the data after his demands, which are often financial, have been met.

“We remain determined to capture Stryzhak’s codefendant and partner in crime, Volodymyr Tymoshchuk, and bring him to justice in a U.S. courtroom,” Nocella added.

The Ukrainian is now being accused of acting as the administrator of the Nefilim ransomware group and is described as a serial cybercriminal associated with multiple ransomware organizations.

Officials claimed that attacks carried out by Nefilim ransomware have led to the loss of millions of damages through extortion payments and damage to victim networks. Styzhak and his co-conspirators allegedly customized ransomware files for each victim, creating unique decryption keys and ransom notes.

The ransomware group primarily targeted companies located in the United States, Australia, and Canada, netting more than $100 million in annual revenue. They extorted their victims by threatening to publish stolen data.

Authorities claimed that the crew would first carry out research about their victims after breaking into their networks. They would look for details like their net worth, size of operation, and how critical their operations are. The Ukrainian and his gang would then look for their contact information and initiate contact.

Stryzhak faces up to 10 years in prison

Stryzhak’s victims in the United States include an engineering consulting company based in France, an aviation company based in New York, and a chemical company operating out of Ohio. They also targeted an insurance company in Illinois, a company in the construction industry in Texas, a pet care company in Missouri, an international eyewear company, and a company in the oil and gas transportation business.

Prosecutors mentioned that Stryzhak and his gang also used the ransomware to encrypt victim networks in Germany, the Netherlands, Switzerland, and Norway. Officials claimed he started the operation when he was given the Nefilim ransomware code in June 2021 in exchange for 20% of his ransom proceeds.

“Cybercriminals may hide behind screens, but they leave digital footprints everywhere,” Christopher Johnson, special agent in charge of the FBI’s field office in Springfield, Illinois, said in a statement.

The FBI agent mentioned that they follow these digital trails relentlessly across all networks, borders, and time, until those responsible are apprehended and held accountable for their crimes.

“Today is a remarkable accomplishment, but we will not stop until we have captured all those responsible for the Nefilim ransomware,” he added.

After pleading guilty to the fraud-related crimes, the Ukrainian is set to be sentenced on May 6, 2026, and faces a maximum penalty of up to 10 years in prison, which would be determined by the federal judge.

Get up to $30,050 in trading rewards when you join Bybit today

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
US Dollar's Decline Predicted in 2026: Morgan Stanley's Outlook on Currency VolatilityMorgan Stanley forecasts a 5% drop in the dollar by mid-2026, attributed to continued Fed rate cuts. A recovery may follow as growth improves and funding currency dynamics shift favorably toward the euro and Swiss franc.
Author  Mitrade
Nov 25, Tue
Morgan Stanley forecasts a 5% drop in the dollar by mid-2026, attributed to continued Fed rate cuts. A recovery may follow as growth improves and funding currency dynamics shift favorably toward the euro and Swiss franc.
placeholder
Gold's Historic 2025 Rally: Can the Momentum Last Through 2026?Following a historic surge in 2025 that saw prices climb over 60% and break records more than 50 times, gold investors are now looking ahead to assess whether the precious metal can sustain its momentum into 2026. Despite outperforming most major asset classes and heading for its best annual performance since 1979, analysts are divided on the outlook—with some seeing further room for gains and others cautioning that risks are rising.
Author  Mitrade
Dec 09, Tue
Following a historic surge in 2025 that saw prices climb over 60% and break records more than 50 times, gold investors are now looking ahead to assess whether the precious metal can sustain its momentum into 2026. Despite outperforming most major asset classes and heading for its best annual performance since 1979, analysts are divided on the outlook—with some seeing further room for gains and others cautioning that risks are rising.
placeholder
Asian Stocks Retreat as Tech Woes and China's Economic Concerns Weigh HeavyMost Asian markets fell on Monday, led by declining technology shares amid weak U.S. earnings guidance. Chinese stocks showed relative resilience, but wider economic fears suggest increased stimulus pressures.
Author  Mitrade
Dec 15, Mon
Most Asian markets fell on Monday, led by declining technology shares amid weak U.S. earnings guidance. Chinese stocks showed relative resilience, but wider economic fears suggest increased stimulus pressures.
placeholder
XRP Spot ETFs Notch 30 Straight Days of Inflows, Bucking Wider Crypto TrendSince their debut on November 13, U.S.-listed spot exchange-traded funds (ETFs) for XRP have recorded net inflows for 30 consecutive trading days, a steady performance that stands in contrast to the more volatile flows seen in larger bitcoin and ether funds.
Author  Mitrade
Dec 15, Mon
Since their debut on November 13, U.S.-listed spot exchange-traded funds (ETFs) for XRP have recorded net inflows for 30 consecutive trading days, a steady performance that stands in contrast to the more volatile flows seen in larger bitcoin and ether funds.
placeholder
BOJ Set to Hike Rates Amid Inflation Pressures and Yen Weakness The Bank of Japan is expected to raise its benchmark interest rate to 0.75% on December 19, marking its first increase since early 2025, amidst ongoing inflation and a weakening yen. Analysts predict additional hikes in 2026 as the central bank navigates renewed monetary policy normalization under Governor Kazuo Ueda.
Author  Mitrade
Dec 18, Thu
The Bank of Japan is expected to raise its benchmark interest rate to 0.75% on December 19, marking its first increase since early 2025, amidst ongoing inflation and a weakening yen. Analysts predict additional hikes in 2026 as the central bank navigates renewed monetary policy normalization under Governor Kazuo Ueda.
goTop
quote