A member of the LockBit cartel was sentenced to four years in prison in Canada

Mykhailo Vasiliev, a Russian-Canadian citizen and member of the infamous LockBit ransomware cartel, has been sentenced to four years in prison on cyber extortion charges, becoming one of the few cybercriminals to receive actual prison terms.

Vasiliev was arrested in late 2022 on suspicion of involvement in attacks on critical infrastructure and large industrial groups, with ransom demands ranging from 5 to 70 million euros. During sentencing, Judge Michelle Furst called him a “cyber terrorist.” Vasiliev, who moved to Canada more than two decades ago, pleaded guilty to cyber extortion and agreed to be extradited to the United States for further trial. His arrest was part of a wider operation that led to the destruction of LockBit’s infrastructure, the arrest of gang members in Poland and Ukraine, and the seizure of servers and cryptocurrency accounts.

Conclusion

Vasiliev’s conviction underscores the growing effectiveness of international law enforcement agencies in the fight against cybercrime and points to the seriousness of the consequences for cyber extortion criminals. It also serves as a warning to other criminals about the risks they run when engaging in illegal activities in cyberspace.