The Federal Criminal Police of Journey “BKA” has claimed that Stern, the leader of TrickBot and Conti cybercrime gangs, is Vitaly Nikolaevich Kovalev, a 36-year-old Russian.
According to BKA, he is suspected of founding the ‘TrickBot’ group, aka ‘Wizard Spider. ' This was part of Operation Endgame, a collaborative global crackdown against malware infrastructure and hackers behind it. The gang used TrickBot and other malware, such as SystemBC, Bazarloader, Ryuk, Diavol, Conti, and IcedID.
According to Interpol, Kovalev is wanted in Germany. He is charged with being the mastermind of an unnamed criminal gang.
This is not the first time Kovalev has been charged with participating in a cybercrime organization. In 2023, he was one of seven Russians charged in the US for their connections to the Conti and TrickBot cybercrime gangs.
At that time, he was only charged as a senior member of the TrickBot gang using the aliases “Bergen,” “Ben,” “Bentley,” and “Alex Konor.”
The sanctions were announced after massive information leaks from Conti and TrickBot members called ContiLeaks and TrickLeaks.
Contileaks gave access to the gang’s inside conversations and source code, and TrickLeaks even leaked the identities, and personal information of TrickBot members, and online accounts on X (former Twitter).
These chats revealed that Kovalev aka “Stern” was heading the TriickBot operation and Conti and Ryuk ransomware groups. The chats revealed members asking Stern permission before launching attacks or getting lawyers for TrickBot members captured in the U.S.
The leaks led to a speedy crackdown on Conti, the gang members switching to other operations or forming new criminal groups such as BlackCat, LockBit, Royal, Black Basta, AvosLocker, Zeon, and DagonLocker.
BKA’s investigation revealed that the “TrickBot group consisted of more than 100 members. It works in an organized and hierarchically structured manner and is project and profit-oriented.”
BKA said that the “group is responsible for the infection of several hundred thousand systems in Germany and worldwide; through its illegal activities, it has obtained funds in the three-digit million range. Its victims include hospitals, public facilities, companies, public authorities, and private individuals."
Kovalev is in hiding and German police believe that he may be in Russia. The police have asked for any info that could lead to his arrest.
Cybersecurity threats are increasing every year, and 2023 is no exception. In February 2023, there was a surge in ransomware attacks, with NCC Group reporting a 67% increase in such attacks compared to January. The attacks targeted businesses of all sizes and industries, emphasizing the need for organizations to invest in robust cybersecurity measures.
The majority of these attacks were carried out by the Conti and LockBit 2.0 groups, with the emergence of new tactics such as social engineering and fileless malware to evade traditional security measures. This emphasizes the need for organizations to address persistent social engineering vulnerabilities through employee training and education.
A proactive approach to cybersecurity is vital for organizations, with the need for leaders to prioritize and invest in robust incident response plans. It's essential to have a culture of security where employees are trained to recognize and report suspicious activity.
According to a Security Intelligence article, the increasing frequency of global cyber attacks is due to several reasons, including the rise of state-sponsored attacks, the increasing use of AI and machine learning by hackers, and the growing threat of ransomware.
The threat of ransomware attacks is expected to continue in 2023, and companies need to have a strategy in place to mitigate the risk. It includes implementing robust security measures, training employees to identify and avoid social engineering tactics, and regularly backing up critical data. As cybersecurity expert Steve Durbin suggests, "Ransomware is not going away anytime soon, and companies need to have a strategy in place to mitigate the risk."
To safeguard themselves against the risk of ransomware attacks, organizations must be proactive. Companies need to focus and invest in strong incident response plans, employee education and training, and regular data backups in light of the rise in assaults. By adopting these actions, businesses can lessen the effects of ransomware attacks and safeguard their most important assets.
IBM Security X-Force has been keeping an eye on Black Basta, the latest ransomware gang that first surfaced in April 2022. Until now, Black Basta has claimed to attack over 29 different targets in various industries via double extortion techniques. In double extortion, the threat actors execute ransomware along with stealing data and blackmail to post it publicly unless their ransom demands are not met.
The data discourse points of these ransomware attacks take place on a data leak website called Tor network. To make the victim pay the ransom, the Black Basta group progressively publishes the stolen data on the leak site. The group is still in the early phase of its organization, X-Force has not found any pieces of evidence of distributing the malware or hiring threat actors on underground platforms or the dark web.
Due to similarities in operations and no affiliation attempts, experts believe that the Black Basta group is a new version of Conti gan, infamous ransomware groups already having various affiliates. But Conti group recently announced that it has no links with the Black Basta ransomware group. X-Force is currently finding the relationship between these two.
Black Basta ransomware gang works at a very high pace, it hardly alerts the cybersecurity defenders and by the time they realize, the damage has already been done. Experts say it doesn't seem that Black Basta is attacking specific industries or verticals. But for organizations that collect data in large quantities can become a victim of extortion attacks like personally identifiable information (PII), financial credentials, sensitive information, etc are easy targets for attackers.
Concerned users can read IBM X-Force Definitive Guide to Ransomware and follow some basic guidelines: