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INTEL
PIG BUTCHERING: now the #1 loss category in the US by estimated volume / HUSHPUPPI: the Instagram that became the evidence -- Case 001 open / BEC: one spoofed email, one wire, seven figures -- see the methodology / ROSS ULBRICHT: full pardon January 21 2025 after 11+ years -- Case 013 open / ALL FIGURES LABELED: estimate vs conviction vs market collapse -- see Methodology / UNODC 2023: $5.4B estimated annually from SE Asia pig-butchering compounds [UNVERIFIED] / PIG BUTCHERING: now the #1 loss category in the US by estimated volume / HUSHPUPPI: the Instagram that became the evidence -- Case 001 open / BEC: one spoofed email, one wire, seven figures -- see the methodology / ROSS ULBRICHT: full pardon January 21 2025 after 11+ years -- Case 013 open / ALL FIGURES LABELED: estimate vs conviction vs market collapse -- see Methodology / UNODC 2023: $5.4B estimated annually from SE Asia pig-butchering compounds [UNVERIFIED]
COMPANY · GROUP/MALWARE

Hive ransomware

🇷🇺 Russia (affiliates international) · FOUNDED 2021-06
THE FIGURE
$100M+
Ransoms Hive affiliates collected from June 2021 to January 2023 (DOJ).
WHAT IT SAID IT WAS

A ransomware-as-a-service operation active from June 2021, renting its malware to affiliates and running a leak site.

WHAT IT REALLY WAS

A gang that hit more than 1,500 victims in 80+ countries — hospitals, school districts and critical infrastructure — and collected over $100M in ransoms before the FBI secretly infiltrated it.

THE STORY

Hive appeared in June 2021 as a ransomware franchise whose affiliates broke into hospitals, schools and utilities, encrypted their systems and threatened leaks; within 18 months it had 1,500 victims and over $100 million in ransoms. In July 2022 the FBI quietly penetrated its network and began handing decryption keys to victims, saving them about $130 million, then seized the servers and leak site on 26 January 2023 with German and Dutch police. Affiliate Mikhail Matveev, charged in May 2023, is in Russia, where he was himself charged in 2024.

WHO RAN IT
Mikhail Matveev ▸
affiliate ('Wazawaka') · open the case file
WHO WAS HURT
Memorial Health System (Ohio)Costa Rica's social security fundTata Power1,500+ organisations
HOW IT ENDED
Founded
2021-06
Based
Russia (affiliates international)
Ended
2023-01-26
How
seized by FBI — networks infiltrated from July 2022; servers and leak site seized 26 January 2023

FBI captured Hive's decryption keys and handed them to 300+ victims, averting ~$130M in ransoms; sites seized with German and Dutch police. Matveev was indicted in May 2023 for Hive, LockBit and Babuk attacks with a $10M reward; Russia charged him with creating malware in November 2024.

SOURCES
cbsnews.com/news/fbi-seizes-control-of-hive-ransomware-variant-justicelawfaremedia.org/article/justice-department-thwarts-hive-ransomware-sc
Facts as published in court records, regulator releases and the sources above. Anyone charged and not convicted is alleged only.
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