Embargo ransomware gang has handled at least $34 million in about a year, report says

TRM Labs reports that the Embargo ransomware group emerged in mid‑2024 and is likely a rebrand or successor to BlackCat/ALPHV; the gang has moved roughly $34.2M in cryptocurrency, targets sectors including healthcare and manufacturing, operates as a ransomware‑as‑a‑service while retaining core infrastructure and payment control, and is described as technically capable though less overt than larger groups.