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These two ransomware giants are joining forces to hit more victims across the world

Techradar

Techradar · 1y ago

These two ransomware giants are joining forces to hit more victims across the world

Two ransomware groups, GhostSec and Stormous, have recently partnered to conduct double extortion attacks. The collaboration began when GhostSec introduced its ransomware-as-a-service framework, GhostLocker, which Stormous decided to adopt. Since then, the two groups have launched multiple attacks on various industries and countries around the world. GhostSec primarily targets corporate websites, with victims located in nations such as Indonesia, Canada, Israel, and more. The groups have also set up an official blog on the TOR network and offer affiliate programs for other hacking collectives. This partnership has significantly increased GhostSec's activities.

Related News

FBI warns US hospitals they may be hit by BlackCat ransomware, so be on their guard

Techradar

Techradar · 1y ago

FBI warns US hospitals they may be hit by BlackCat ransomware, so be on their guard

The Cybersecurity and Infrastructure Security Agency (CISA), along with the FBI and HHS, have issued a warning to hospitals and healthcare organizations about the ALPHV (BlackCat) ransomware. The advisory states that since mid-December 2023, ALPHV has been targeting healthcare firms, and around 70 organizations have had their data leaked on the dark web. The ransomware group has improved its communication with victims and upgraded its encryption software. In a recent attack, US health tech giant Change Healthcare was hit by ALPHV ransomware. Hospitals are being advised to take necessary measures to mitigate these threats.

Amazon, Microsoft team up to protect users from impersonation scams in India

Economic Times

Economic Times · 1y ago

Amazon, Microsoft team up to protect users from impersonation scams in India

Amazon and Microsoft have joined forces to protect users in India from impersonation scams. The two tech giants are working together to educate users about these scams and provide guidance on how to recognize and avoid them. This collaboration aims to create a safer online environment for Indian users and reduce the risk of falling victim to impersonation scams.

‘Prolific’ LockBit ransomware group loses its keys to a global takedown

The Verge

The Verge · 1y ago

‘Prolific’ LockBit ransomware group loses its keys to a global takedown

The US and UK authorities have disrupted the activities of a ransomware group known as LockBit, responsible for targeting over 2,000 victims and obtaining $120 million in ransom payments. The enforcers seized websites and servers used by LockBit to prevent data theft and also obtained decryption strategies to help victims regain access to their systems. The US Department of Justice unsealed an indictment against two Russian nationals believed to be responsible for LockBit ransomware attacks on US businesses. This action represents a coordinated global effort against one of the most active ransomware groups.

How cyber insurance is shaping ransomware risk mitigation

Techradar

Techradar · 1y ago

How cyber insurance is shaping ransomware risk mitigation

Ransomware costs are soaring, and AI-powered cyberattacks may make them even more prevalent and expensive. It is predicted that cybercrime will cost the world $13.8 trillion by 2028. To combat these threats, businesses are turning to cyber insurance to limit their liability and financial burden in the event of an attack. However, the insurance industry is facing challenges with increasing claims, leading to stricter policy qualifications and rising premiums. This article explores the role of cyber insurance in mitigating ransomware threats, delving into its qualification process, claims procedure, key features, and cost-benefit analysis.

Feds hack LockBit, LockBit springs back. Now what?

TechCrunch · 1y ago

Feds hack LockBit, LockBit springs back. Now what?

The LockBit ransomware group, which was recently targeted by law enforcement in a global operation, has returned to the dark web with a new leak site and new victims. The group's administrator admitted fault for the disruption but claimed that operations have now resumed. The law enforcement operation, dubbed "Operation Cronos," compromised LockBit's infrastructure, seized servers and cryptocurrency wallets, and made arrests. Despite law enforcement's claims of a successful takedown, LockBit has already targeted new victims and remains active. The ongoing cat-and-mouse game between law enforcement and ransomware groups means that these criminal operations can quickly regroup and rebrand.

How ransomware could cripple countries, not just companies

Livemint

Livemint · 1y ago

How ransomware could cripple countries, not just companies

Ransomware attacks are on the rise, posing a significant threat to businesses, infrastructure, and national security. Attackers use encryption to hold data hostage and demand hefty ransoms. These attacks have become more frequent and sophisticated, with smaller criminal groups emerging as major players in the cybercrime landscape. Western countries are resorting to sanctions, cyber-attacks, and legal measures to combat ransomware, but the challenges persist. The increasing use of cryptocurrency and the evolution of the ransomware-as-a-service model contribute to the persistence and profitability of these attacks. Improving cybersecurity measures, discouraging ransom payments, and enhancing international cooperation are crucial in fighting this growing menace.

Cyber attack compromised Indonesia data centre, ransom sought: report

Economic Times

Economic Times · 1y ago

Cyber attack compromised Indonesia data centre, ransom sought: report

Indonesia's national data center was targeted by cyber attackers who demanded an $8 million ransom, causing disruptions to government services, including airports. The attack utilized a new variant of the Lockbit malicious software. Lockbit is known for using ransomware to encrypt victims' data and extort payments in cryptocurrency. The hackers can threaten to leak or delete confidential information if the victim refuses to pay. Investigations are ongoing to gather more details about the attack.

SPE Capital allies with three others to acquire Egyptian PSU microfinance firm

VCCircle

VCCircle · 11m ago

SPE Capital allies with three others to acquire Egyptian PSU microfinance firm

SPE Capital, a private equity firm focused on Africa and the Middle East, is joining forces with three partners to acquire a microfinance company owned by the government of Egypt. The partners include an Egyptian private equity firm and two development finance institutions. The deal will be financed by SPE Capital's latest investment vehicle.

LockBit ransomware officially returns — hackers hit back with new attacks following apparent shutdown

Techradar

Techradar · 1y ago

LockBit ransomware officially returns — hackers hit back with new attacks following apparent shutdown

LockBit, a notorious ransomware operator, has reemerged with new encryptors, infrastructure, and data leak and negotiation websites. Researchers at Zscaler found that new LockBit victims received ransom notes with different Tor URLs for further instructions. Two new encryptor variants were also discovered. LockBit's negotiation server is back in operation but only for new victims. The reappearance of LockBit comes after the UK's National Crime Agency (NCA) and international partners dismantled its infrastructure, gaining access to decryptors and stolen data. LockBit's owners later claimed to have been targeted due to sensitive information stolen from Fulton County, potentially impacting the US election.

Ransomware Gangs’ Merciless Attacks Bleed Small Companies Dry

Livemint

Livemint · 8m ago

Ransomware Gangs’ Merciless Attacks Bleed Small Companies Dry

Knights of Old, a UK delivery company, fell victim to a cyber attack by the Russian hacking group Akira, who encrypted the company's files and threatened to publish its internal data unless a ransom was paid. Ransomware attacks have increased by 70% in 2023, with Akira alone extorting an estimated $42 million from over 350 organizations. While Akira has targeted high-profile companies, the majority of its victims are small and medium-sized businesses. The median ransom payment has soared to $6.5 million, highlighting the significant financial impact of these attacks on organizations.

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