WEBINAR | A Deep-Dive into 2023 Cyber Threats
Reduce Alert Noise and False Positives
Boost your team's productivity by cutting down alert noise and false positives.
Automate Security Operations
Boost efficiency, reduce burnout, and better manage risk through automation.
Dark Web Monitoring
Online protection tuned to the need of your business.
Maximize Existing Security Investments
Improve efficiencies from existing investments in security tools.
Beyond MDR
Move your security operations beyond the limitations of MDR.
Secure with Microsoft 365 E5
Boost the power of Microsoft 365 E5 security.
Secure Multi-Cloud Environments
Improve cloud security and overcome complexity across multi-cloud environments.
Secure Mergers and Acquisitions
Control cyber risk for business acquisitions and dispersed business units.
Operational Technology
Solve security operations challenges affecting critical operational technology (OT) infrastructure.
Force-Multiply Your Security Operations
Whether you’re just starting your security journey, need to up your game, or you’re not happy with an existing service, we can help you to achieve your security goals.
Detection Investigation Response
Modernize Detection, Investigation, Response with a Security Operations Platform.
Threat Hunting
Locate and eliminate lurking threats with ReliaQuest GreyMatter
Threat Intelligence
Find cyber threats that have evaded your defenses.
Model Index
Security metrics to manage and improve security operations.
Breach and Attack Simulation
GreyMatter Verify is ReliaQuest’s automated breach and attack simulation capability.
Digital Risk Protection
Continuous monitoring of open, deep, and dark web sources to identify threats.
Phishing Analyzer
GreyMatter Phishing Analyzer removes the abuse mailbox management by automating the DIR process for you.
Integration Partners
The GreyMatter cloud-native Open XDR platform integrates with a fast-growing number of market-leading technologies.
Unify and Optimize Your Security Operations
ReliaQuest GreyMatter is a security operations platform built on an open XDR architecture and designed to help security teams increase visibility, reduce complexity, and manage risk across their security tools, including on-premises, clouds, networks, and endpoints.
Blog
Company Blog
Case Studies
Brands of the world trust ReliaQuest to achieve their security goals.
Data Sheets
Learn how to achieve your security outcomes faster with ReliaQuest GreyMatter.
eBooks
The latest security trends and perspectives to help inform your security operations.
Industry Guides and Reports
The latest security research and industry reports.
Podcasts
Catch up on the latest cybersecurity podcasts, and mindset moments from our very own mental performance coaches.
Solution Briefs
A deep dive on how ReliaQuest GreyMatter addresses security challenges.
White Papers
The latest white papers focused on security operations strategy, technology & insight.
Videos
Current and future SOC trends presented by our security experts.
Events & Webinars
Explore all upcoming company events, in-person and on-demand webinars
ReliaQuest ResourceCenter
From prevention techniques to emerging security trends, our comprehensive library can arm you with the tools you need to improve your security posture.
Threat Research
Get the latest threat analysis from the ReliaQuest Threat Research Team. ReliaQuest ShadowTalk Weekly podcast featuring discussions on the latest cybersecurity news and threat research.
Shadow Talk
ReliaQuest's ShadowTalk is a weekly podcast featuring discussions on the latest cybersecurity news and threat research. ShadowTalk's hosts come from threat intelligence, threat hunting, security research, and leadership backgrounds providing practical perspectives on the week's top cybersecurity stories.
April 25, 2024
About ReliaQuest
We bring our best attitude, energy and effort to everything we do, every day, to make security possible.
Leadership
Security is a team sport.
No Show Dogs Podcast
Mental Performance Coaches Derin McMains and Dr. Nicole Detling interview world-class performers across multiple industries.
Make It Possible
Make It Possible reflects our focus on bringing cybersecurity awareness to our communities and enabling the next generation of cybersecurity professionals.
Careers
Join our world-class team.
Press and Media Coverage
ReliaQuest newsroom covering the latest press release and media coverage.
Become a Channel Partner
When you partner with ReliaQuest, you help deliver world-class cybersecurity solutions.
Contact Us
How can we help you?
A Mindset Like No Other in the Industry
Many companies tout their cultures; at ReliaQuest, we share a mindset. We focus on four values every day to make security possible: being accountable, helpful, adaptable, and focused. These values drive development of our platform, relationships with our customers and partners, and further the ReliaQuest promise of security confidence across our customers and our own teams.
More results...
Consistency is the first word that springs to mind when assessing ransomware activity throughout the Q1 of 2021. There have been consistent double extortion ransomware activity levels, with key players in the threat landscape continuing where they left off in 2020, regularly adding data stolen from victims to their data leak websites. Consistent pressure from law enforcement has disrupted certain ransomware groups leading to drops in activity. Other groups have continued to vary their attack methods sustaining the high level of threat posed to global organizations.
Recently, the security world has had a heavy focus on impactful supply chain attacks, such as the SolarWinds software compromise and exploitation of Microsoft Exchange Server vulnerabilities. Still, ransomware continues to dominate the threat landscape for 2021. Let’s take a look at some of the key trends and emerging techniques observed by the Photon Research Team in our Q1 Ransomware Roundup.
Following the quietest Christmas period in memory, the security community returned to work in early January more refreshed than in previous years. 2021 began much in the same way that 2020 had ended—with the emergence of a new double extortion-focused ransomware variant. Ransomware operators clearly didn’t get into the festive spirit but likely prefer to use this time for more malicious purposes.
On 03 Jan 2021, researchers reported on the newly discovered ransomware variant Babuk Locker. Like the variants that had paved the way, Babuk used a strong encryption mechanism, targeted large enterprises perceived as being able to pay hefty ransoms, and sought to leak the data stolen from its victims to coerce payment. Babuk began by leaking this data to cybercriminal forums. Still, the operators stated that they intended to establish a data leak website, the must-have accessory for any modern ransomware extortion outfit. Approximately two weeks later, the Photon Team began monitoring “Babuk Locker Leaks,” a dedicated site owned by Babuk’s operators to name and shame its victims.
Unsurprisingly, this trend continued into 2021. Since January 2021, there have been several other ransomware groups added to the team’s monitoring list. Variants such as “Cuba” and “Phoenix CryptoLocker” have emerged with similar modus operandi. Each new wave of ransomware continues to inspire the next, and each emerging group will likely reap the benefits of the highly lucrative double extortion method. Most operate in this way relatively uninterrupted for a while before the law inevitably catches up with them.
Although it may seem that ransomware groups have been running wild over the last 12-18 months, there has been a consolidated effort from international law enforcement agencies to crack down on these threat actors. Disrupting ransomware groups is no easy task, given that they are likely made up of various sub-groups and affiliates dispersed across several countries. Thankfully, law enforcement agencies are not entirely powerless, and collaboration between agencies has led to successful disruption.
Both Egregor and Netwalker were among the most active ransomware groups in Q4 2020, but this had changed when we looked back over our Q1 reporting.
The disparate nature of membership or association with these cybercriminal enterprises means those remaining members may sometimes continue operations once the heat is off. It is no guarantee that law enforcement operations, such as those against Netwalker and Egregor, spell the end for these groups. However, this disruption is welcome and is likely to ruffle a few feathers among other prolific ransomware groups. It is realistically possible that these operations have even put some groups off continuing their attacks (see our interesting pick on Ziggy ransomware below).
Towards the end of 2020, the Photon team discussed the growing professionalization among ransomware groups. These groups had developed from low-level cybercriminals into established malicious enterprises with a range of methods used to extort their victims.
Increasing professional methods include:
The data leak websites were the beginning, before groups waged social-media advertising campaigns to publicize their attacks and reportedly used call centers to further harass their victims. The outsourcing of criminal services, such as anonymous domain registration and bulletproof hosting providers, helped to obfuscate ransomware attacks and gave operators a chance to splash some cash made from their endeavours.
These operational capability advancements have narrowed the gap between organized cybercriminal groups and state-associated advanced persistent threat (APT) groups. So much so that ransomware operators are now beginning to emulate the TTPs (tactics, techniques, and procedures) usually attributed to nation-state APTs.
State-associated APT groups typically favor supply chain attacks given the increased resources and capability needed to conduct these attacks successfully. However, growing professionalization across the ransomware threat landscape has led to greater involvement in supply chain compromise from the more advanced ransomware groups. Upon disclosure of the zero-day vulnerabilities affecting Microsoft Exchange Servers, existing ransomware variants such as “Black Kingdom” began exploiting the vulnerabilities. Moreover, a new ransomware variant named DearCry had targeted vulnerable Exchange Servers shortly after a proof of concept (PoC) attack had been published to Github on 10 Mar 2021.
Going after suppliers through the exploitation of zero-days is not novel for ransomware groups, but the extent to which these groups have successfully conducted this exploitation is certainly growing. In March 2021, the high-profile “Sodinokibi” (aka REvil) ransomware group demanded a USD 50 million ransom from the technology firm Acer, the highest recorded ransom demand to date. Although it was unconfirmed via independent sources, researchers stated that Acer had been targeted using the Exchange Server vulnerabilities.
The eye-watering amount of money being made by ransomware groups will likely fuel further expansion and a move towards more advanced TTPs that will sustain the success of ransomware operations. As this occurs, the gap between ransomware extortion groups and state-associated APTs will likely lessen even further.
If you hadn’t already guessed, ransomware will continue to flood your feeds and news reels for the foreseeable future. Ransomware groups continue to grow in stature and capability, with no signs of slowing down anytime soon.
Q1 2021 was filled with interesting developments and new TTPs used by ransomware groups. The full extent of these details is available in the form of curated intelligence updates to SearchLight (now ReliaQuest’s GreyMatter Digital Risk Protection) clients (you can request a demo here), but here are some highlights.
If ransomware is a threat not already on your radar, or if you are interested in learning more, we recommend a 7-day free trial of Threat Intelligence with SearchLight. SearchLight (now ReliaQuest’s GreyMatter Digital Risk Protection) clients receive real-time, actionable intelligence updates regarding ransomware activity, including analysis from our team of global analysts and intelligence on new posts to ransomware data leak sites across open and closed sources.
Note: This blog is a roundup of our quarterly ransomware series. You can also see our Q2 Ransomware Trends, Q3 Ransomware Trends, Q4 and 2020 Ransomware Trends blogs or get our free weekly threat intelligence writeup delivered to your inbox here.