![U.S. Treasury’s OFAC Bans Crypto Addresses Tied to LockBit Ransomware Group From Financial System U.S. Treasury’s OFAC Bans Crypto Addresses Tied to LockBit Ransomware Group From Financial System](https://digitallifegaming.com/wp-content/uploads/2024/02/DDPKYH5P7JFJRMW7NIKJ5SMIXU-768x402.png)
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“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.
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