Ransomware is a type of malicious software designed to block access to files until a ransom is paid. Over the past 35 years, it has evolved from simple attacks into a global billion-dollar industry. In 2023 alone, ransomware victims reportedly paid approximately $1 billion, primarily in cryptocurrency, underscoring the massive scale of the problem.
The First Recorded Ransomware Attack
The first known ransomware attack occurred in 1989. Joseph Popp, a biologist, distributed infected floppy disks under the guise of software analyzing susceptibility to AIDS. Once installed, the program encrypted file names and, after 90 uses, hid directories before displaying a ransom demand. Victims were instructed to send a cashier’s check to an address in Panama to unlock their files.
This incident, later dubbed the "AIDS Trojan," marked the dawn of ransomware attacks. At the time, the term "ransomware" was unknown, and cybersecurity communities were unprepared for such threats. Popp was eventually apprehended but deemed unfit for trial due to erratic behaviour.
Evolution of Ransomware
Ransomware has undergone significant changes since its inception:
The Future of Ransomware
Ransomware is expected to evolve further, with experts predicting its annual cost could reach $265 billion by 2031. Emerging technologies like artificial intelligence (AI) are likely to play a role in creating more sophisticated malware and delivering targeted attacks more effectively.
Despite advancements, simpler attacks remain highly effective. Cybersecurity experts emphasize the importance of vigilance and proactive defense strategies. Understanding ransomware’s history and anticipating future challenges are key to mitigating this persistent cyber threat.
Knowledge and preparedness remain the best defenses against ransomware. By staying informed and implementing robust security measures, individuals and organizations can better protect themselves from this evolving menace.
The infamous LockBit ransomware group has announced its return with the upcoming release of LockBit 4.0, set for February 2025. This marks a big moment for the group, which has had major setbacks over the last year. A global law enforcement crackdown shut down its operations, with arrests and recovery of nearly 7,000 decryption keys. As other ransomware groups like RansomHub take the lead, it remains uncertain if LockBit can reclaim its former dominance.
Challenges Facing LockBit’s Return
LockBit's return is definitely not in the cards, though. The group did a lot of damage to itself, mainly because law enforcement was doing their job and newer Ransomware groups were outperforming it. Probably, the development of this 4.0 version involves deep changes in its codebase since the previous variant had been compromised. Experts therefore wonder whether LockBit manages to overcome these obstacles or gets back into the crowded field of ransomware services.
Another emerging favorite is ransomware-as-a-service, where groups start to sell their tools and infrastructure to affiliates in a specific ratio of the profits being extracted by that affiliate. LockBit will find itself competing not just with opponents such as RansomHub but also with variants from the same ransomware assembled using leaked source code.
What to Expect With LockBit 4.0
The group's announcement for LockBit 4.0 has bold claims, enticing potential affiliates with promises of wealth and success. The official launch is scheduled for February 3, 2025, and keys are provided to access their dark web leak site. While specific details about the 4.0 version are unclear, cybersecurity researchers are closely monitoring its development.
The group may also change its tactics to stay off the radar of international law enforcement. In the past, LockBit has been criticized for hitting high-profile victims, including the Toronto Hospital for Sick Children in 2022. After public backlash, the group issued an apology and provided a free decryption key, an unusual move for a ransomware organization.
The Future
LockBit's ability to stage a successful comeback will depend on its capacity to adapt to the challenges it faces. With competitors gaining ground and its credibility in question, the group's path forward is uncertain. Cybersecurity experts will be watching closely to see how LockBit 4.0 impacts the ransomware infrastructure.
For now, organizations are advised to remain vigilant, as ransomware groups continue to improvise their tactics. Implementing robust security measures and staying informed about emerging threats are critical steps in defending against such attacks.
A much more potent version of the Qilin ransomware has been found, according to cybersecurity experts, showing a new and revamped kind that is ready to attack core systems using advanced encryption along with improved stealth techniques.
A Rebranding with a Twist: Qilin's Evolution
The Qilin ransomware operation, which first appeared in July 2022, has now morphed into a more formidable opponent with a new version dubbed "Qilin.B." Known previously as "Agenda," the malware was rebranded and rewritten in Rust, a programming language harder to detect and often used for high-performance systems. The Qilin group is notorious for demanding multi-million dollar ransoms, focusing on high-stakes sectors such as healthcare, where operational disruptions can be particularly severe.
Qilin's latest incarnation has been a powerful tool in mass-attack campaigns. Just last year, a significant cyber attack was launched against Synnovis, a pathology firm providing services to the United Kingdom's NHS, which resulted in the cancellation of thousands of hospital and family doctor appointments. In return for collaborating on campaigns, Qilin partners are promised a large percentage of ransom payments, up to 85% — an arrangement that is structured to encourage high-paying ransomware attacks with the highest payoffs.
Improved Encryption and Obfuscation
This variant, Qilin.B, has the following methods that make their detection a hard nut to crack by the standard systems of security. According to Halcyon, a research firm specialising in cybersecurity, enhanced encryption, such as AES-256-CTR systems that support AESNI, together with RSA-4096 and OAEP padding have been seen in this particular variant. Such standards ensure that decrypting files from this threat is impossible minus the private key, as the case of preventive actions being the only way forward.
Further, the obfuscation technique is available in Qilin.B with which the developers hide the coding language of malware in order to prevent detection via signature-based detection systems. Such evasion mechanisms make the detection and quick response even more difficult by the cyber security teams in case of infections. As reported by the researchers from Halcyon, who had studied malware upgrades, increasing sophistication can be seen in ransomware tactics, specifically Qilin.B was developed to resist reverse engineering as well as delay incident response.
New Tactics to Dodge System Defences
Qilin.B disables important system services such as backup and removes volume shadow copy to prevent rollback of the infected systems. In addition, it disables restarts and self-cleans up by removing the ransomware after a successful attack to minimise digital artefacts. All these features make it more robust for defence against evolving ransomware groups that will continue to change their approach to remain at least a step ahead of security patches.
Growing Need for Cross-Platform Security
As Qilin ransomware is becoming more agile, security experts say the cybersecurity posture of organisations must be more offensive-minded. Qilin.B is rebuilt in Rust and can be executed properly across different environments-from Linux to VMware's ESXi hypervisor. The required security monitoring needs to recognize stealthy methods identified with Qilin.B, including detection of code compiled in Rust because traditional systems would fail to counter it.
Advanced Configurations and Control
Qilin.B. This is another notable configuration option from the attackers so that one can personalise his attack. Thus, this version comes along with new names for some functions, encrypted strings and other complex code, in order to take more time for defence activities and forensic analysis of an incident. According to researchers of the Halcyon company, the best behaviour-based detecting systems should be implemented and it can easily find out what malware does, without the outdated method of searching for signatures by which malware has successfully dodged, in this case.
With the advancements of Qilin.B in terms of encryption and evasion, the security firm Halcyon recommends that organisations supplement their security infrastructure with cross-platform monitoring and backup solutions which are designed to fight against ransomware attacks' newest variations. A more complete system in detecting and responding to threats will still be an asset as ransomware advances through networks well-protected.
Continuous improvement in ransomware-as-a-service (RaaS) points to the intensifying threat that organisations have to grapple with as they secure sensitive data from increasingly sophisticated adversaries. The Qilin operation exemplifies how ransomware groups continue to adapt themselves to avoid defences, so proactive and adaptive security measures are justified in industries.
“At the start of September, Kawasaki Motors Europe (KME) was the subject of a cyberattack which, although not successful, resulted in the company’s servers being temporarily isolated until a strategic recovery plan was initiated later on the same day," KME said in a statement.
RansomHub, an infamous Ransomware-as-a-Service (RaaS) has leaked 478GB of data which the group claims belongs to the KME website, after the attack. Important business documents were exposed- dealership details, internal communications, banking records, and financial info.
Threat actors posted the exposed data on their extortion site on the dark net, suggesting that KME didn’t agree to pay the ransom demanded by RanHub.
RansomHub has become popular after its creation in February 2024, it is now one of the most efficient RaaS groups, it was responsible for 75 ransom attacks in Q2 of 2024. RansomHub’s victims include high-level targets like Planned Parenthood and Change Healthcare.
To warn about the attacks, the US Cybersecurity and Infrastructure Agency (CISA) issued an advisory, highlighting indicators of compromise (IoC) to combat the threat of potential targets.
With a significant increase in the number of RaaS, the ransom demand trend is also rising. A threat actor demands a shocking $1.5 million in return for a victim’s stolen data. In 2023, the ransomware number was a mere $200,000, which shows the dominance of ransomware groups and the harm they cause to an organization.
Adopting a proactive cybersecurity plan can help a business address future threats and take measures to mitigate risks, reducing the threat of future attacks.
A strong incident response plan can reduce the impact of a ransomware breach. It should have a framework for a plan of action for a possible attack, this can include a data recovery process, legal aspects, and communication protocols.
Human error is one of the leading causes of breach, but employee training and awareness helps to identify threats and respond accordingly.
A recent wave of cyberattacks has seen financially motivated criminals leveraging Windows Quick Assist, a built-in remote control and screen-sharing tool, to deploy Black Basta ransomware on victim networks. Microsoft has investigated these attacks since mid-April 2024, identifying the threat group behind them as Storm-1811.
The attacks typically begin with email bombing, where the target's inbox is flooded with spam emails. This overload is followed by a phone call from the attackers, who impersonate Microsoft technical support or the victim's IT help desk. They offer to help resolve the spam issue, tricking victims into granting remote access via Quick Assist.
Once access is granted, the attackers execute a scripted command to download malicious files, including Qakbot malware, remote monitoring tools like ScreenConnect and NetSupport Manager, and the Cobalt Strike framework. These tools enable the attackers to perform domain enumeration and move laterally across the network. Eventually, they deploy Black Basta ransomware using PsExec, a telnet-replacement tool.
Rapid7, a cybersecurity company that also detected these attacks, noted that attackers use batch scripts to harvest credentials from the command line using PowerShell. These credentials are often exfiltrated to the attackers' server via Secure Copy (SCP). In some cases, credentials are saved to an archive for later retrieval.
To mitigate these attacks, Microsoft advises organisations to disable or uninstall Quick Assist and similar remote tools if they are not used. Employees should be trained to recognise tech support scams and instructed to only allow remote access if they initiated the contact with IT support. Suspicious Quick Assist sessions should be immediately disconnected.
The Black Basta ransomware operation emerged after the Conti cybercrime group disbanded two years ago following multiple data breaches. Black Basta began operating as a Ransomware-as-a-Service (RaaS) in April 2022 and has since attacked numerous high-profile targets, including defence contractor Rheinmetall, technology company Capita, Hyundai's European division, and the American Dental Association.
Recent attacks linked to Black Basta include a ransomware incident at U.S. healthcare giant Ascension, which disrupted ambulance services. According to a joint advisory by CISA and the FBI, Black Basta affiliates have breached over 500 organisations across 12 out of 16 critical infrastructure sectors since April 2022, causing data breaches and encryption.
Health-ISAC, an information sharing and analysis centre, has warned of increased attacks against the healthcare sector by Black Basta. Research by Elliptic and Corvus Insurance indicates that the group has extorted at least $100 million in ransom payments from over 90 victims by November 2023.
Microsoft is enhancing Quick Assist to improve transparency and trust between users, including adding warning messages to alert users about potential scams. Rapid7 observed similar scams targeting their customers, with attackers using other remote monitoring tools like AnyDesk.
To prevent such attacks, organisations should block unapproved remote management tools and train staff to recognise and report suspicious calls and messages. Quick Assist should only be used if the interaction was initiated by contacting official support channels.
The recent misuse of Windows Quick Assist in deploying Black Basta ransomware pushes forward the vision for increased vigilance and robust cybersecurity practices to save all our digital assets from such social engineering attacks.
In a recent joint report by the Cybersecurity and Infrastructure Security Agency (CISA) and the Federal Bureau of Investigation (FBI), a new ransomware gang named Black Basta has been identified as breaching over 500 organisations globally between April 2022 and May 2024. This group has targeted various sectors, including healthcare, spanning across North America, Europe, and Australia.
Black Basta, coming through as a Ransomware-as-a-Service (RaaS) operation in April 2022, has quickly gained notoriety by attacking numerous high-profile victims such as Rheinmetall, Hyundai, Capita, and the American Dental Association, among others. Believed to have connections to the former Conti cybercrime syndicate, Black Basta operates with sophistication and a steady stream of initial access to its targets.
One of the key tactics employed by Black Basta involves stealing corporate data before encrypting a company's devices. This stolen data is then used in double-extortion attacks, where victims have demanded a ransom to prevent the publishing of their sensitive information. The gang's data leak site, 'Black Basta Blog' or 'Basta News,' lists victims and progressively releases data to pressure them into paying the ransom.
Technical analysis reveals that Black Basta utilises the ChaCha20 encryption algorithm to encrypt files, rendering them inaccessible without the decryption key. Victims are left with a custom extension appended to their encrypted files (.basta), along with a ransom note providing instructions on how to negotiate with the threat actors.
Responding to this spreading threat, federal agencies advise organisations to maintain up-to-date operating systems, employ phishing-resistant Multi-Factor Authentication (MFA), and train users to identify and report phishing attempts. Moreover, securing remote access software and implementing recommended mitigations are essential steps in blocking the risks posed by Black Basta and similar ransomware attacks.
Healthcare organisations are particularly vulnerable, given their size, technological reliance, and access to sensitive patient information. CISA and the FBI have suggested adhering to the StopRansomware Guide in order to dodge potential attacks in the healthcare sector.
Recent incidents, including an attack on healthcare giant Ascension, accentuate the urgency of addressing the threat posed by Black Basta. With the gang's ability to readily expand its victim pool and employ coercive tactics, organisations must remain particularly careful and implement robust cybersecurity measures to mitigate the risk of falling victim to ransomware attacks.
Considering the course of events, cybersecurity experts emphasise the importance of ardent measures, including regular backups, system updates, and employee training, to strengthen defences against ransomware threats like Black Basta. This calls for collective efforts to combat the growing menace of ransomware and protect critical infrastructure from malicious actors.