US Charges Russian-Israeli Dual National Linked to Lockbit Ransomware Group

The U.S. Department of Justice announced on Friday that it has charged Rostislav Panev, a Russian-Israeli dual national, for his alleged involvement with the Lockbit ransomware group. The 51-year-old was arrested in Israel in August and is awaiting extradition to the U.S.

Panev, who was a developer for Lockbit from its inception in 2019 through at least February 2024, played a role in the group’s rise to become one of the most active and destructive ransomware operations in the world, according to the DOJ.

Lockbit and its malware were responsible for cyberattacks on over 2,500 victims across more than 120 countries, including small businesses, large corporations, hospitals, schools, and even government agencies. The group operated a ransomware-as-a-service model, working with affiliates to carry out attacks while sharing the extortion proceeds.

The DOJ estimates that Lockbit and its affiliates extorted at least $500 million from victims, alongside significant financial losses from disruption and recovery efforts.

Panev’s arrest follows recent developments in the case, including guilty pleas from two other Lockbit members in July, and a major seizure of Lockbit websites by law enforcement in February. While the group resurfaced after these actions, cybersecurity experts agree that these efforts have significantly weakened Lockbit’s influence in the cybercrime world.