Ransomware, a form of malicious software, has a history spanning over three decades. However, it only gained regular attention in popular media over the last ten years.
This type of malware locks access to computer systems or encrypts files until a ransom is paid. Cybercriminal groups now view ransomware as a lucrative scheme, especially with the emergence of “ransomware as a service,” which enables various groups to profit from successful ransom demands through affiliate schemes.
One prominent group, LockBit, has garnered attention by showcasing high-profile victims on its website. LockBit refers to both the malware and the group behind it, complicating its identification.
LockBit emerged in 2019 as a stealthy malware aimed at infiltrating organizations, locating valuable data, and encrypting it. Unlike mere data theft, LockBit encrypts data and holds it hostage until a ransom is paid, often resorting to threats of data publication (known as double extortion) if the payment deadline isn’t met.
The LockBit group remains largely enigmatic, claiming no specific political allegiance and welcoming an unlimited number of affiliates worldwide solely interested in financial gain. However, they enforce rules prohibiting attacks on certain targets, including critical infrastructure like hospitals and specific post-Soviet countries.
This article has been indexed from CySecurity News – Latest Information Security and Hacking Incidents
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