Ransomware-as-a-service gang LockBit has set up a bug bounty program for its malware and for exploitable vulnerabilities it could use to further criminal activities. Whether the program will go as planned is an open question. The gang is offering $1,000 to $1 million in remuneration.
Unlocking the data generated by ransomware attacks is helping organizations better understand the risks, adopt defensive technologies and prepare for future attacks, says Wade Baker, partner at Cyentia Institute. He discusses new data on how quickly organizations are remediating vulnerabilities.
The Conti ransomware group officially pulled the plug on its operation in May. But experts say the group's activities have continued in the form of numerous already-launched subsidiaries or spinoffs, which appear to include Alphv/BlackCat, AvosLocker, Black Basta and HelloKitty, among others.
Ransomware has changed the risk landscape for suppliers and is forcing companies to reconsider their risk relationships, says Kelly White, co-founder and CEO of RiskRecon. He discusses the correlation between cyber hygiene, ransomware and data loss.
The latest edition of the ISMG Security Report investigates the reboot of ransomware group Conti, which supports Russia's invasion of Ukraine. It also discusses why paying ransomware actors is a "business decision" and how to respond to the talent shortage in the financial sector.
In the latest "Proof of Concept," Lisa Sotto of Hunton Andrews Kurth LLP and former CISO David Pollino of PNC Bank join ISMG editors to discuss the many new privacy laws in the U.S., current ransomware and scam trends, and handling the potential corporate risk of sharing information on social media.
In his spare time, ransomware expert Allan Liska recently became a certified sommelier. Branching out from his day job as principal intelligence analyst at Recorded Future, Liska says he's found numerous parallels between the deductive tasting process and threat intelligence.
Threat watch: The ongoing Russia-Ukraine war continues to pose both direct and indirect risks to enterprise networks, says Michael Baker, vice president and IT CISO of IT services and consulting firm DXC Technology. He also discusses recruiting and retaining new talent.
The public-private Ransomware Task Force last year issued numerous recommendations for battling ransomware, and task force member Marc Rogers of Okta says that while the problem persists, better mechanisms are helping to blunt such criminal activity.
Ransomware continues to pummel organizations, with the average ransom payment reaching $925,000 so far this year, but the aggregate financial impact of business email compromise attacks is even worse, says Wendi Whitmore, head of Unit 42 at Palo Alto Networks.
Ransomware groups such as Conti are beginning to move away from encrypting systems. Instead, they are stealing data, especially from public companies, and threatening to leak it publicly to extort ransom payments, says cybercrime expert Vitali Kremez, CEO of AdvIntel.
Personal data allegedly obtained during a cyberattack using BlackCat ransomware was published on a typosquatted open internet website. This new extortion technique shows an escalation by ransomware groups in their willingness to use personal data to bludgeon victims into paying extortion money.
As ransomware attacks continue to pummel organizations, Rapid7 Chief Scientist Raj Samani says victims must identify how the attacker broke in and if they've given themselves persistent ways to regain access. Otherwise, he says, "They'll hit you again and again."
The disruption of the Netwalker ransomware group in January 2021 by U.S. and Bulgarian authorities highlights how blockchain can be an Achilles' heel for cryptocurrency-using criminals, says Jackie Burns Koven, cyberthreat intelligence lead at Chainalysis.
The dangers associated with compromising critical infrastructure assets burst into public view with the May 2021 Colonial Pipeline ransomware attack, prompting significant investment from both the government and the private sector, according to Claroty Chief Product Officer Grant Geyer.