This edition of the ISMG Security Report features a discussion about why the head of Britain's National Cyber Security Center says the No. 1 cyber risk is not nation-state attackers but ransomware-wielding criminals. Also featured: Western Digital IoT flaws; an FBI agent tracks cybersecurity trends.
The code used to build copies of Babuk ransomware - to infect victims with the crypto-locking malware - has been leaked, after someone posted the software to virus-scanning service VirusTotal. Whether the leak was intentional - perhaps a rival gang seeking to burn the operation - remains unclear.
Owners of Western Digital My Book Live devices have seen their data remotely wiped by attackers targeting a flaw first detailed in 2019. But WD stopped supporting these devices in 2015, which is a reminder that the best way to secure some types of internet of things devices may be to discard them.
What is the life cycle of a ransomware attack, and how can organizations better detect and block them? Peter Mackenzie of Sophos, says that while many victims assume attackers first struck when systems got crypto-locked, the intruders had actually been in the network for "days or weeks."
Two cybercrime ecosystem cornerstones today are high-end bulletproof hosting services and ransomware, says Mark Arena, CEO of Intel 471. He notes that ransomware-as-a-service operations don't function like gangs or the Mafia, but rather as individuals collaborating "based on a culture of mistrust."
How do criminal affiliates of ransomware-as-a-service operations think? Craig Williams and Matt Olney of Cisco Talos describe insights shared - accidentally and otherwise - by "Aleks," a Russian affiliate of the LockBit ransomware-as-a-service operation.
Fraudsters falsely claiming to be the now-shuttered DarkSide ransomware gang are targeting organizations in the food and energy sectors by sending hoax emails that attempt to extort ransoms from victims, the security firm Trend Micro reports. None of the victims has detected a data compromise so far.
A bipartisan group of senators is circulating a draft of a federal breach notification bill that would require federal agencies, federal contractors and businesses that have oversight over critical infrastructure to report significant cyberthreats to CISA within 24 hours of discovery.
The global law enforcement "Anom" honeypot operation racked up impressive statistics for the number of criminals tricked into using the encrypted communications service. Psychology was at play: Officials say users flocked to the service after they disrupted rivals EncroChat and Sky Global.
Based on Russian-language cybercrime chatter, "fear" likely drove the lucrative Avaddon ransomware-as-a-service operation to announce its retirement as the U.S. exerts increasing diplomatic pressure on Moscow to disrupt such activity, experts say. But are criminals simply laying low until the heat dies down?
The prolific Avaddon ransomware-as-a-service operation has announced its closure and released 2,934 decryption keys for free. Has the increased focus by Western governments on combating ransomware been driving this and other operations to exit the fray?
The House Oversight and Reform Committee is now probing the $11 million payment that meat-producer JBS paid to a cybercriminal gang following a ransomware attack in May. Committee Chairwoman Carolyn Maloney also asked for documents related to ransom payments made by Colonial Pipeline and CNA.