Lockbit Ransomware Suspected Behind the Attacks on Envision Credit Union

Cyberattacks employing a type of ransomware that appeared nearly two years ago have increased in number lately. The ransomware known as LockBit Ransomware, continues to be effective for cyber thieves. 

Trend Micro’s cybersecurity analysts recently documented an uptick in LockBit ransomware operations that have surged since the beginning of July. This ransomware-as-a-service first surfaced in September 2019 and has been quite successful, although activities have increased relatively during this summertime. 

Recently, Envision Credit Union has been the victim of a potential ransomware attack that seized its computer networks. There were clear indications of a suspected ransomware attack that surfaced last week, leading to speculation that the entity responsible for the attack was LockBit 2.0. 

LockBit works on the concept of Ransomware as a Service (RaaS), in which they lease out their network and software to legitimate hackers in exchange for a portion of the payment. It is a sort of double extortion in which the perpetrator threatens to expose the victim’s personal information or data if the victim does not pay the money. 

Thus according to Datminr, a New York-based cybersecurity firm, the cybercriminals allegedly threatened to expose the stolen information on the 30th of August. 

The Tallahassee Democrat wrote Envision officials with various questions regarding the alleged cyber-attack. A representative only acknowledges the attack as “techn

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