A well-known ransomware organization operating in Ukraine has been successfully taken down by an international team under the direction of Europol, marking a major win against cybercrime. In this operation, the criminal group behind several high-profile attacks was the target of multiple raids.
The joint effort, which included law enforcement agencies from various countries, highlights the growing need for global cooperation in combating cyber threats. The dismantled group had been a prominent player in the world of ransomware, utilizing sophisticated techniques to extort individuals and organizations.
The operation comes at a crucial time, with Ukraine already facing challenges due to ongoing geopolitical tensions. Europol's involvement underscores the commitment of the international community to address cyber threats regardless of the geopolitical landscape.
One of the key events leading to the takedown was a series of coordinated raids across Ukraine. These actions, supported by Europol, aimed at disrupting the ransomware gang's infrastructure and apprehending key individuals involved in the criminal activities. The raids not only targeted the group's operational base but also sought to gather crucial evidence for further investigations.
Europol, in a statement, emphasized the significance of international collaboration in combating cybercrime. "This successful operation demonstrates the power of coordinated efforts in tackling transnational threats. Cybercriminals operate globally, and law enforcement must respond with a united front," stated the Europol representative.
The dismantled ransomware gang was reportedly using the Lockergoga ransomware variant, known for its sophisticated encryption methods and targeted attacks on high-profile victims. The group's activities had raised concerns globally, making its takedown a priority for law enforcement agencies.
In the aftermath of the operation, cybersecurity experts are optimistic about the potential impact on reducing ransomware threats. However, they also stress the importance of continued vigilance and collaboration to stay ahead of evolving cyber threats.
As the international community celebrates this successful operation, it serves as a reminder of the ongoing battle against cybercrime. The events leading to the dismantlement of the Ukrainian-based ransomware gang underscore the necessity for countries to pool their resources and expertise to protect individuals, businesses, and critical infrastructure from the ever-evolving landscape of cyber threats.
The Japanese manufacturing has apparently been targeted by ransomware organization LockBit, who are threatening to expose the data on November 5, 2023, at 18:34:13 UTC, according to a post on X (previously Twitter) by technology security company Falcon Feeds.
The attack, first reported by Escape Collective, is also recorded on the Ransom-db website's Live Ransomware Updates, with Shimano.com listed as a victim of LockBit 3.0 and the date November 2, 2023, as the attack date.
The whole ransom note is also available on Ransomlook.io, which is known as an open-source initiative intended to support users in tracking ransomware-related posts and actions across numerous sites, forums, and Telegram groups.
LockBit is a cybercriminal group that employs malware to compromise critical company data and then tries to extort money in exchange for preventing its public publication.
According to the cyber-crime prevention firm Flashpoint, it is the world's most active ransomware organization, responsible for 27.93% of all known ransomware assaults in the year ending June 2023. It stated a total of 1,036 victims is more than double that of the second-placed organization known as BlackCat.
Shimano is the latest in a long line of high-profile LockBit victims. Trendmicro reports that the British postal service Royal Mail was attacked in January, virtually suspending its international export services. Dublin software firm Ion Group was targeted in February, while Taiwanese chipmaker TSMC was targeted in June with a US$70 million ransom demand.
Boeing, the world's largest aircraft manufacturer, is also being extorted by the organization.
A Shimano spokeswoman told Cyclingnews, "This is an internal matter at Shimano that is being investigated, but we cannot comment on anything at this time."
It is unclear what ransom, if any, has been sought by the organization at this time, but it is apparent that the revelation will be another significant blow in an already difficult period for the Japanese brand.
It just announced a global recall of 2.8 million road cranksets due to a long-standing bonding separation issue. As a result, a class-action lawsuit was filed in North America in the weeks that followed. According to its most recent quarterly report, overall sales of bicycle components declined by 24.8%, with operational profitability decreasing by nearly half.
AI systems like Google's Bard and OpenAI's ChatGPT are designed to generate content by analyzing a huge amount of data, including human queries and responses. However, these systems have sparked legitimate worries regarding privacy. Google has emphasized that it will solely utilize customer data with proper permission. However, the question of trust is complex.
The cybersecurity vendor's "2023 Global Threat Report," which summarizes CrowdStrike's research on cybercrime (or "e-Crime") from the previous year, was released this week. The report's major sections address ongoing geopolitical disputes, cloud-related attacks, and extortion attacks without the use of software.
One of the major findings from the CrowdStrike research is that the number of malicious actors who conducted data theft and extortion attacks without the use of ransomware increased by 20% in 2022 compared to the previous year. Data extortion is the practice of obtaining confidential information from target companies and then threatening to post the information online if the victim does not provide the ransom demanded by the attacker.
Data extortion has frequently been a part of ransomware operations, with the fear of data exposure intended to provide additional incentive for the victim to pay the demanded ransom. However, as per the CrowdStrike findings, more attackers are now inclining toward data extortion, while abandoning the ransomware element altogether.
Adam Meyers, head of intelligence at CrowdStrike says that “We’re seeing more and more threat actors moving away from ransomware[…]Ransomware is noisy. It attracts attention. It’s detectable. Encryption is complex.”
According to Meyers, the rise in extortion addresses the adaptability of cyber adversaries. He further adds that while ransom payments were down slightly in 2022, both extortion and ransomware-as-a-service (RaaS) have witnessed a significant boost.
CrowdStrike observed and noted the overall waning interest in malware. The firm reported that in 2022, up from 62% in 2021, malware-free activity accounted for 71% of its threat detections.
"This was partly related to adversaries' prolific abuse of valid credentials to facilitate access and persistence in victim environments[…]Another contributing factor was the rate at which new vulnerabilities were disclosed and the speed with which adversaries were able to operationalize exploits," the report said.
While also noting the improved resilience of the RaaS network, CrowdStrike stated that affiliated hackers will continue to be a major concern as they move from one network to another despite the move away from conventional ransomware deployment.