Ransomware

What is Ransomware?

Ransomware is a type of malicious software (malware) that encrypts a victim’s important files, rendering them inaccessible. The attacker then demands a payment (ransom) from the victim in exchange for a decryption key to restore access.

If the ransom is paid, victims receive the key; if not, the attacker may publish the data on the dark web or permanently block access to the encrypted files.

Here are some notable examples of ransomware:

1. WannaCry

  • Description: A highly destructive ransomware worm that spread globally in 2017.
  • Impact: Infected hundreds of thousands of computers, including critical systems like healthcare and transportation.
  • Ransom Demand: Victims were asked to pay in Bitcoin to unlock their files.

 

2. CryptoLocker

  • Description: One of the earliest ransomware variants (2013-2014).
  • Method: Used the massive Gameover Zeus botnet for distribution.
  • Ransom Demand: Typically between $100 and $300 USD, payable in various digital currencies.

3. DarkSide

  • Description: Associated with the eCrime group CARBON SPIDER.
  • Recent Incident: Involved in the Colonial Pipeline attack (May 2021).
  • Impact: Colonial Pipeline allegedly paid almost $5 million USD to a DarkSide affiliate.

4. Dharma

  • Description: Operates under a ransomware-as-a-service (RaaS) model.
  • Targets: No specific industry discrimination.

Note: The original author released the source code in 2016, leading to multiple independent actors using Dharma.

5. LockBit

LockBit is a notorious ransomware variant that has gained prominence due to its widespread deployment and impact. Here are the key details about LockBit:

Overview:

  • Type: Ransomware-as-a-Service (RaaS)
  • Affiliates: LockBit operates as a RaaS model, where affiliates (cybercriminals) use LockBit ransomware tools and infrastructure to conduct attacks.
  • Variants: LockBit 3.0 is the latest version, known for its destructive capabilities.

Notable Characteristics:

  • Global Reach: LockBit has attacked organizations worldwide, including critical infrastructure sectors like finance, healthcare, energy, and government.
  • Variability: Due to numerous unconnected affiliates, LockBit attacks exhibit varying tactics, techniques, and procedures (TTPs).

Earliest Observed Activity:

  • Australia: LockBit 3.0 was first documented in early August 2022.
  • Canada: The earliest recorded LockBit activity in Canada dates back to March 2020.
  • New Zealand: The first incident involving LockBit ransomware in New Zealand occurred in March 2021.

High-Profile Targets:

Mitigation Recommendations:

  • Organizations should implement robust security practices:
  • Regularly back up critical data.
  • Keep software and systems up to date.
  • Educate employees about phishing and security hygiene.
  • Monitor network traffic for suspicious activity.

LockBit’s impact underscores the importance of proactive defenses against ransomware threats. Organizations must remain vigilant and take necessary precautions to protect their data and systems.

Remember that ransomware attacks can have severe consequences, affecting individuals, businesses, and critical infrastructure. Regular backups, security awareness, and robust cybersecurity practices are essential defenses against these threats.