In the latest issue of “Lawyer’s Notes,” Yuriy Zhovtan, a partner at Barristers LLP, discusses cyber extortion—schemes that combine the hacking of information systems (Article 361 of the Criminal Code of Ukraine) with classic extortion (Article 189 of the Criminal Code of Ukraine).

How do cybercriminals operate?

• They use phishing attacks and account hacking.
  
• They demand a ransom, threatening to disclose confidential data.
  
• They anonymize their activities through the Dark Web, VPNs, and cryptomixers.
  

Real-life cases:

• An IT company—hackers gained access to customer databases and accounting records, demanding 10 bitcoins in exchange for not disclosing the information. Thanks to blockchain analysis, the perpetrators were identified, and cooperation with international exchanges helped apprehend them.
  
• Media company – A powerful DDoS attack paralyzed the website’s operations, and the attackers demanded 5 bitcoins to stop it. Cybersecurity experts identified the source of the attacks, which allowed them to track down the organizers.
  

How to protect yourself?

• Do not click on suspicious links.
  
• Use two-factor authentication.
  
• If you face a threat, contact cybersecurity experts and law enforcement agencies.