Mikhail Vasiliev, a Russian-Canadian cybercriminal, has been sentenced to nearly four years in prison for his role in an international ransomware scheme.
Vasiliev, a member of the infamous LockBit ransomware group, pleaded guilty to eight counts of cyber extortion, mischief, and weapons charges.
The 34-year-old hacker admitted to extorting Canadian businesses, demanding hundreds of thousands of dollars in exchange for decrypting compromised computer systems. Vasiliev was caught by police while actively engaged in these cybercrimes.
Justice Michelle Fuerst described Vasiliev’s actions as “cyber-terrorism,” emphasizing the real-world consequences of his greed. Vasiliev was ordered to pay over $860,000 in restitution to his victims.
Vasiliev’s arrest came after a two-year investigation spearheaded by U.S. officials. He is now awaiting extradition to the United States, where he faces additional charges related to the LockBit conspiracy. The LockBit ransomware group is estimated to have extorted at least $100 million from its victims worldwide.
