India, with rapid digital growth and reliance on technology, is in the hit list of cybercriminals. As one of the world's biggest economies, the country poses a distinct digital threat that cyber-crooks might exploit due to security holes in businesses, institutions, and personal users.
India recently saw a 51 percent surge in ransomware attacks in 2023 according to the Indian Computer Emergency Response Team, or CERT-In. Small and medium-sized businesses have been an especially vulnerable target, with more than 300 small banks being forced to close briefly in July after falling prey to a ransomware attack. For millions of Indians using digital banking for daily purchases and payments, such glitches underscore the need for further improvement in cybersecurity measures. A report from Kaspersky shows that 53% of SMBs operating in India have experienced the incidents of ransomware up till now this year, with more than 559 million cases being reported over just two months, starting from April and May this year.
Cyber Thugs are not only locking computers in businesses but extending attacks to individuals, even if it is personal electronic gadgets, stealing sensitive and highly confidential information. A well-organised group of attacks in the wave includes Mallox, RansomHub, LockBit, Kill Security, and ARCrypter. Such entities take advantage of Indian infrastructure weaknesses and focus on ransomware-as-a-service platforms that support Microsoft SQL databases. Recovery costs for affected organisations usually exceeded ₹11 crore and averaged ₹40 crore per incident in India, according to estimates for 2023. The financial sector, in particular the National Payment Corporation of India (NPCI), has been attacked very dearly, and it is crystal clear that there is an imperative need to strengthen the digital financial framework of India.
Cyber Defence Through AI
Indian organisations are now employing AI to fortify their digital defence. AI-based tools process enormous data in real time and report anomalies much more speedily than any manual system. From financial to healthcare sectors, high-security risks make AI become more integral in cybersecurity strategies in the sector. Lenovo's recent AI-enabled security initiatives exemplify how the technology has become mainstream with 71% of retailers in India adopting or planning to adopt AI-powered security.
As India pushes forward on its digital agenda, the threat of ransomware cannot be taken lightly. It will require intimate collaboration between government and private entities, investment in education in AI and cybersecurity, as well as creating safer environments for digital existence. For this, the government Cyber Commando initiative promises forward movement, but collective endeavours will be crucial to safeguarding India's burgeoning digital economy.
“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.
RansomHub is a relatively new player in the ransomware scene, but it has quickly made a name for itself with its advanced techniques and targeted attacks. Unlike traditional ransomware groups that rely on brute force methods or simple phishing campaigns, RansomHub employs a more nuanced strategy. By using legitimate software tools in unexpected ways, they can evade detection and maximize the impact of their attacks.
Kaspersky’s TDSSKiller is a well-known tool in the cybersecurity community, designed to detect and remove rootkits from infected systems. Rootkits are a type of malware that can hide the presence of other malicious software, making them particularly dangerous. TDSSKiller is widely trusted and used by security professionals to clean compromised systems.
However, RansomHub has found a way to exploit this tool for malicious purposes. By incorporating TDSSKiller into their attack chain, they can disable EDR software that would otherwise detect and block their ransomware. This tactic is particularly insidious because it uses a trusted tool to carry out malicious actions, making it harder for security teams to identify and respond to the threat.
RansomHub’s attack chain typically begins with a phishing email or a compromised website that delivers the initial payload. Once the ransomware is on the target system, it uses a variety of techniques to escalate privileges and gain control over the machine. This is where TDSSKiller comes into play.
By running TDSSKiller, the ransomware can disable EDR software and other security measures that would normally detect and block the attack. With these defenses out of the way, RansomHub can then proceed to encrypt the victim’s files and demand a ransom for their release. In some cases, they also use a credential-harvesting tool called LaZagne to extract sensitive information, further increasing the pressure on the victim to pay the ransom.
The use of legitimate tools like TDSSKiller in ransomware attacks highlights a significant challenge for the cybersecurity community. Traditional security measures are often designed to detect and block known malware and suspicious behavior. However, when attackers use trusted tools unexpectedly, these measures can be less effective.
This tactic also underscores the importance of a multi-layered approach to cybersecurity. Relying solely on EDR software or other endpoint protection measures is no longer sufficient. Organizations must implement a comprehensive security strategy that includes network monitoring, threat intelligence, and user education to detect and respond to these advanced threats.
Halliburton, one of the world’s largest energy companies, has confirmed that it was the victim of a cyberattack. Hackers infiltrated the company’s systems and stole sensitive information. The attack occurred last week, and Halliburton is still determining the extent of the data that was taken.
In a recent filing with government regulators, Halliburton acknowledged the breach but has yet to disclose the full details of what was stolen. The company is currently investigating the incident and deciding what legal notifications are required. In response to the attack, Halliburton took certain systems offline as a precaution and is working to restore normal operations, especially for its oil and fracking businesses.
When approached for additional comments, company spokesperson Amina Rivera declined to elaborate further, stating that Halliburton would not provide more information beyond what was mentioned in its official filing.
Although Halliburton has not officially confirmed it, there are signs that the cyberattack may have been part of a ransomware campaign. TechCrunch obtained a ransom note related to the incident, which claims that hackers encrypted Halliburton’s files and stole sensitive data. A group known as RansomHub is believed to be behind the attack. This gang is notorious for carrying out similar cyberattacks, using stolen data as leverage to demand ransom payments.
RansomHub typically publishes stolen files on its dark web platform when victims refuse to pay. So far, Halliburton has not been listed as one of RansomHub’s victims, but this could change if negotiations fail. RansomHub has been responsible for over 210 attacks since its rise to prominence earlier this year, and it has targeted other large organisations, including Change Healthcare.
Halliburton, with around 48,000 employees spread across various countries, is a major player in the global energy industry. In the past, the company gained notoriety due to its role in the Deepwater Horizon oil spill disaster in 2010, for which it paid over $1 billion in fines.
The recent cyberattack is expected to have financial repercussions for the company, though the exact costs are yet to be determined. In 2023, Halliburton reported $23 billion in revenue, with CEO Jeff Miller earning $19 million in total compensation. Halliburton has noted that it will continue to bear costs related to the cyberattack as they work on restoring systems and resolving the situation.
As the investigation unfolds, much of Halliburton’s online services remain down, and the company is assessing the full impact of the breach. Halliburton has been tight-lipped about its cybersecurity efforts, declining to provide information on who is currently overseeing their response.
This attack is a reminder of how large corporations remain vulnerable to cyber threats. Halliburton's situation underscores the importance of investing in strong cybersecurity measures to safeguard sensitive data and avoid disruptions in critical operations. The company will likely provide more updates as it works to recover from this breach.
Cloud Europe is a Tier IV carrier-neutral data center based in Rome's Tecnopolo Tiburtino. According to the company's website, it specializes in data center architecture and management, focusing on security and service continuity. The company creates, hosts, and operates modular infrastructure for data centers in both the private and public sectors.
1. Cloud Europe: On June 29, 2024, RansomHub claimed responsibility for infiltrating the servers of Cloud Europe, a prominent Tier IV certified data center in Rome. The attackers allegedly encrypted the servers and exfiltrated 70 terabytes of data. Among the stolen information were 541.41 gigabytes of sensitive data, including client records, financial documents, and proprietary software.
2. Mangimi Fusco: The same day, RansomHub targeted Mangimi Fusco, an animal food manufacturer. The group claimed to have stolen 490 gigabytes of confidential data, including client files, budget details, and payroll information. However, as of now, Mangini Fusco’s website shows no signs of the reported attack, leaving room for skepticism.
3. Francesco Parisi: RansomHouse, another hacking collective, breached the website of Francesco Parisi, a group specializing in freight forwarding and shipping services. The attack occurred on May 29, 2024, and resulted in the theft of 150 gigabytes of company data. Francesco Parisi has acknowledged the breach and is working to restore normalcy while enhancing its cybersecurity defenses.
These attacks raise critical questions about the state of cybersecurity readiness among Italian businesses:
Vulnerabilities: Despite advancements in security protocols, organizations remain vulnerable to sophisticated attacks. The ability of threat actors to infiltrate well-established data centers and corporate websites highlights the need for continuous vigilance.
Data Privacy: The stolen data contains sensitive information that could be exploited for financial gain or used maliciously. Companies must prioritize data privacy and invest in robust encryption, access controls, and incident response plans.
Business Continuity: When ransomware strikes, business operations grind to a halt. Cloud Europe’s experience serves as a stark reminder that even data centers, designed to ensure continuity, are not immune. Organizations must have contingency plans to minimize disruptions.
To safeguard against ransomware and other cyber threats, companies should consider the following strategies: