Hacker group – Lockbit

The LockBit group is one of the most notorious and successful ransomware operations in the world. Since their emergence in 2019, they have hit countless businesses and organizations worldwide with sophisticated ransomware attacks using a Ransomware-as-a-Service (RaaS) model.

This involves the group offering their ransomware to third parties (affiliates) in exchange for a share of the profits. This strategy has greatly expanded their reach and made LockBit one of the most prevalent ransomware threats.

Origin and method

LockBit operates worldwide, but is particularly active in Europe, North America and Asia. Their attacks focus on encrypting companies’ data and demanding ransoms for the decryption keys.

What sets LockBit apart from other ransomware groups is their use of sophisticated automation to scan networks and strike quickly once they find a vulnerability.

LockBit is also known for their double extortion tactics. In addition to encrypting data, they also threaten to make stolen data public if the ransom is not paid. This adds an extra layer of pressure for victims.

Known attacks

LockBit has attacked several large organizations in recent years:

  • In 2023, they were responsible for an attack on Royal Mail in the United Kingdom, resulting in significant disruptions to international postal services.
  • The same year, they were also involved in attacks on several companies worldwide, causing significant financial and operational damage.

How businesses can protect themselves

Companies can protect themselves from attacks by groups such as LockBit by taking some crucial steps:

  • Network segmentation: Splitting up networks can limit the spread of ransomware.
  • Strong backups and recovery procedures: Regular backups can minimize downtime and data loss without depending on paying ransom.
  • Multi-factor authentication (MFA): This can help prevent unauthorized access even if login credentials are stolen.

Conclusion

LockBit remains a major threat to businesses worldwide. With the right precautions, such as proactive security and recovery plans, organizations can significantly reduce their risks and protect themselves from the devastating impact of ransomware attacks.