Florida Men Plead Guilty in Multi-Million Dollar Ransomware Scheme

Two individuals have pleaded guilty to federal charges related to a ransomware scheme that caused over $9.5 million in losses, according to the U.S. Department of Justice. The plea agreements were reached with the U.S. Attorney for the Southern District of Florida on December 18, 2023, and accepted by the U.S. District Court on December 29, 2023.

While the total losses from the ransomware attacks exceeded $9.5 million, authorities have so far been able to trace only $324,123.26 in criminal proceeds to the defendants.

Both individuals now face a maximum sentence of 20 years in prison. The case highlights the ongoing challenges law enforcement faces in tracking and recovering funds obtained through cybercrime, even when convictions are secured.