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Ransomware attacks are increasing with more dangerous hybrids ahead

The re-emergence of REvil and anticipated convergence with business email compromise actors are among reasons why ransomware gangs are still dangerous.

Over the past several years, the emergence of big-ticket, destructive ransomware attacks jolted the U.S. government into action to circumscribe the predominately Russian-based threat actors behind the scourge. At the same time, ransomware has been a critical factor driving the growth in corporate cybersecurity budgets as organizations grapple with the often-crippling threat.

Despite the policy measures and increased private sector funding to slow down the drumbeat of attacks, ransomware threats remained a top topic at this year’s RSA conference. Experts at the event underscored that Russian state-sanctioned criminal actors are not the only ransomware threat actors to fear, nor are ransomware attacks decreasing despite the intensified efforts to nip them in the bud. The same actions taken to quash ransomware activity might end up forging alliances among financially motivated threat actors to create hybrid cyber-attacks that meld social engineering with ransomware.

This article appeared in CSO Online. To read the rest of the article please visit here.

Image by Pete Linforth from Pixabay

 

Articles

U.S. Cyber Command’s actions against ransomware draw support and…

The actions, which temporarily took down REvil, raise questions about using the military to combat ransomware.

Over the weekend, Gen. Paul M. Nakasone, the head of U.S. Cyber Command and the National Security Agency (NSA), confirmed what most cybersecurity specialists already knew: The U.S. military has engaged in offensive measures against ransomware groups. These actions were undertaken to stem the alarming and growing tide of ransomware attacks that have hit U.S. industry, notably Colonial Pipeline in May, and have afflicted hundreds of healthcare and educational institutions.

In October, Cyber Command, in conjunction with the Secret Service, FBI, and allied nations, diverted traffic around servers used by the Russia-based REvil ransomware group, forcing the group to disband, at least temporarily. Among other attacks, REvil targeted the world’s largest meat processor, JBS, in late-May, disrupting meat production for days. Cyber Command and NSA also helped the FBI and the Justice Department seize and recover 75 bitcoins worth more than $4 million that were part of the cryptocurrency ransom Colonial Pipeline paid.

Nakasone said the attacks on Colonial Pipeline and JBS impacted critical infrastructure. “Before, during and since, with a number of elements of our government, we have taken actions and we have imposed costs,” Nakasone said. Cyber Command’s first anti-ransomware effort occurred in 2020 when the military arm worked in parallel, but not in a coordinated fashion, with Microsoft to take down the Trickbot network.

This article appeared in CSO Online. To read the rest of the article please visit here.