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how does lockbit target organisations? The cybercrime gang infects a victim organisation's system with ransomware - malicious software that encrypts data - and then coerces targets into paying ...
LockBit is a cybercriminal group proposing ransomware as a service (RaaS). Software developed by the group (also called ransomware) enables malicious actors who are willing to pay for using it to carry out attacks in two tactics where they not only encrypt the victim's data and demand payment of a ransom, but also threaten to leak it publicly if their demands are not met.
Law-enforcement agencies have infiltrated and disrupted LockBit, arresting two people involved with the prolific ransomware syndicate that has extracted $120 million from thousands of victims ...
"The FBI typically does not get involved in negotiating with ransomware actors," Vorndran said. A major Russian-based ransomware syndicate called LockBit took responsibility for the attack in ...
The "ransomware as a service" model is a criminal variation of the "software as a service" business model. [3] This model allows small threat attackers to gain access to sophisticated ransomware tools at lower costs, also lowering the threshold of entry into cybercrime and complicating defenses against hacking.
Ransomware attacks are typically carried out using a Trojan, entering a system through, for example, a malicious attachment, an embedded link in a phishing email, or a vulnerability in a network service. The program then runs a payload, which locks the system in some fashion, or claims to lock the system but does not (e.g., a scareware program).
"To put today’s takedown into context, based on leak site data, Lockbit had a 25% share of the ransomware market. Their nearest rival was Blackcat at around 8.5%, and after that it really starts ...
The bank was hacked by LockBit, a ransomware group. [ 46 ] described by Bloomberg as "a criminal gang with ties to Russia." [ 45 ] The attack against ICBC resulted in the bank being unable to clear a large number of US Treasury trades over the next day and forced others to reroute orders, upsetting normal operations. [ 47 ]
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