Ransomware

Consumer data will be the hot commodity in the underground for 2025, with cybercrime expected to cost over $10 trillion in this coming year. Criminals will continue to develop new ways to exploit vulnerable areas, increasing enterprise risk as the attack surface expands.

INC ransomware was first detected in July 2023, but has already released new versions: one that targets Linux computers and an update on their Windows variant. The ransomware has been observed to exploit CVE-2023-3519 and uses HackTool.Win32.ProcTerminator.A for defense evasion and HackTool.PS1.VeeamCreds for credential access in its different attack chains.

The landscape of ransomware attacks in the first quarter of 2024 presents new insights and shifts in tactics among cybercriminal groups. This report shows key players, targeted sectors, and geographic distributions of attacks by ransomware groups, both notorious and relatively new.

The LockBit intrusion set, tracked by Trend Micro as Water Selkie, has one of the most active ransomware operations today. With LockBit’s strong malware capabilities and affiliate program, organizations should keep abreast of its machinations to effectively spot risks and defend against attacks.

We cover the key trends that defined the ransomware threat landscape in the second half of 2023. Data from RaaS and extortion groups’ leak sites, open-source intelligence (OSINT) research, and the Trend Micro telemetry shows that LockBit, BlackCat, and Clop continued to rank among the active RaaS and extortion groups with the highest victim counts during this period.

Our continuous surveillance and research of the threat landscape in 2023 showed patterns suggesting that as cybercriminals take advantage of the expanding attack surface, they are also learning to prioritize substance over size.

2024 is poised to be a hotbed for new challenges in cybersecurity as the economic and political terrains continue to undergo digitization and enterprises increasingly leverage artificial intelligence and machine learning (AI/ML), the cloud, and Web3 technologies. While these innovations are expected to lend a hand to organizations, they also provide opportunities for cybercriminals by promising big returns, more streamlined operations on wider impact zones, and more targeted victims.

After the shutdown of its leak site in October, we look at how ransomware group Trigona operated during its period of activity and discuss how enterprises can fortify their defenses against similar threats.

This report spotlights Akira, a novel ransomware family with highly experienced and skilled operators at its helm.