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Lockbit Targets 2 More US Targets

Miklos Zoltan

By Miklos Zoltan . 4 March 2024

Founder - Privacy Affairs

Alex Popa

Fact-Checked this

Lockbit continues its activity uninterrupted, this time adding 2 more US-based victims to its hitlist. These are Valorem Reply and Jovani Fashions. As with all of their previous attacks, Lockbit targeted them because they qualify as high-value targets.

  • The attacks took place at 9 PM on the 3rd of March, 2024, and the victims had 7 days to contact the attackers
  • If contact isn’t made within this time window, Lockbit will publish the stolen data
  • Lockbit has just recovered after a massive FBI operation meant to dissolve the organization
  • The operation called Cronos failed, and Lockbit returned within weeks, claiming the FBI as their very first target

Not only that, but it seems like the FBI operation uncovered worrying information about Lockbit’s progression. According to cybersecurity analysts, Lockbit is already cooking its 4.0 version, which they plan on releasing soon.

This shows that not only was Lockbit not affected by the FBI’s operation, but they’re even expanding. As stats show, Lockbit takes the first place as the most dangerous, effective, and profitable ransomware ring in the world.

X showing the Lockbit attack on the 2 victims

The group collected over 2,000 victims over its entire lifespan and racked up in excess of $121 million in ransomware revenue. More importantly, Lockbit is now more active than ever, conducting several successful operations per day.

Anonymous inside reports described Lockbit as an almost militarized structure with strict deadlines, well-defined goals, and impeccable MO. According to experts, operation Cronos was one of the most extensive FBI operations, and Lockbit survived it.

What to Know About Lockbit Today?

Lockbit dates back to September of 2019 when it first went public with the .ABCD extension. A lot has changed since then, though. Lockbit underwent a drastic upgrade in system and structure. The 2.0 version came with a lot of benefits, including the Stealbit tool.

This new tool automates the data exfiltration process so that Lockbit can extract more data more effectively. This made Lockbit intrusions far more financially costly for the victims than ever before.

In June of 2022, Lockbit saw yet another update in the form of the 3.0 version. This made the already competitive extortion ring even more effective at its job. Lockbit offered between $1,000 and $1 million rewards to cybersecurity analysts to improve their systems.

Little is known about the 4.0 version that’s underway as we speak, but the FBI revealed that it was in late-stage development already. More importantly, the FBI experts brought to light over 30,000 bitcoin addresses which the group used during its operations.

These contained 2,200 bitcoins, the equivalent at the time of $122 million.

It’s safe to say that Lockbit doesn’t appear to go anywhere for the foreseeable future. Not only that, but their activity is increasing by the day. The extortion ring is now producing several victims per day, most in the high-value bracket.

Given the organization’s terrifying new profile and its increased aggression, experts advise working on your cybersecurity if you qualify as a potential victim. Lockbit prefers targets with higher-than-normal revenue streams, but they won’t say “no” to an easy job either.

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