Lockbit Attacks Chicago Extruded Metals
Lockbit took responsibility for another ransomware attack against Chicago-based extruded metals. The attack resulted in the victim losing a considerable amount of confidential data.
- As posted by Lockbit itself, some of the data they’ve stolen includes tax return sheets, client data base, employees information, financial data, etc.
- Chicago Extruded Metals didn’t comment on the event and it’s unclear whether the negotiations have completed
- According to Lockbit’s leak post, the deadline for negotiations was today, 5th of February, 2024
- Lockbit is known to use very aggressive negotiation tactics, causing many victims to prefer having their data leak than pay the ransom
Lockbit has become considerably more active over the past few months, with news of ransomware attacks popping out every other day. The organization has also expanded its reach and influence.
Many attacks take place in bulk, with Lockbit targeting multiple victims from several countries at the same time. Not only that, but the ransomware sphere has visibly grown its activity recently.
As stated by public and private investigative agencies, the number of cybercriminal actors appears to be on the rise. Some are completely new entities, while others are successors of older ones.
Lockbit’s reputation precedes it. The organization currently ranks among the most aggressive, successful, resourceful, and adaptable in the world. A recent investigation assessed the group’s activity over the span of 3 years, between 2020 and 2023.
The findings were troubling to say the least. Lockbit recorded approximately 1,700 victims and over $91 million in profits up to May of 2023. The situation has likely changed dramatically, considering the group’s increased activity recently.
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Why Lockbit Is Such a Threat
Lockbit’s owes much of its success to its power of innovation. Unlike standard cyberthreat actors, Lockbit is highly diligent and adaptable. The group was first observed in 2019, but only established itself as a legitimate threat in 2021.
That’s when the 2.0 version came out. This new version came with an additional malware tool called Stealbit. This piece of code was designed to automate the exfiltration data, allowing Lockbit to encrypt and steal more data than ever before.
Naturally, this would give the organization a lot of leverage during negotiation, which probably explains the group’s merciless attitude during talks. They rarely accept to lower the ransom and never compromise in case the victim can’t afford to pay.
Then, in June of 2022, Lockbit 3.0 came out after 2 months of beta testing. This not only improved Lockbit’s potential, but also opened the door to new business opportunities.
The group invited security companies to test their brand new software and highlight any weaknesses, if any. They offered rewards between $1,000 and $1 million for that, based on the findings. This allowed the group to strengthen their malware even more.
Today, Lockbit still qualifies as the most aggressive and frightening ransomware actor and the situation isn’t likely to change anytime soon. If you believe you’re at risk of ransomware attacks, the general recommendation is to boost your defenses considerably.
Resorting to specialists to help you in this sense is a must!