Cyber Criminals Regrouping After The Takedown By Law Enforcement Agencies: Report

Allan Liska of a US cybersecurity firm said, "It's going to bounce back. Right now there's just so much money in ransomware that people don't want to stop."

Governments of several nations have had a hectic first half of the year as they countered and brought a number of cyber criminals under control. The world of cybercrime and the gangs who are a part of it have had their fair share of suffering and are now looking to rebuild themselves with new tactics after global police operations this year made a huge dent in their activities, reported news agency AFP.

Law enforcement agencies across the globe have taken action against prominent cyber criminal groups including LockBit which is a loose network of largely Russian-speaking cyber criminals.

What's LockBit & What Did They Do?

LockBit was a key developer of malicious software that enabled criminals to lock victims out of their networks, steal data, and demand a ransom for its return. Ransomware attacks using LockBit and similar programs have caused significant disruptions to governments, businesses, and public services such as hospitals.

Victims have paid hundreds of millions of dollars to these criminal groups, often in untraceable cryptocurrencies. The disruption of LockBit in February and another botnet in May helped to "clean up" the ransomware landscape, according to Nicolas Raiga-Clemenceau of the XMCO consultancy in France. However, he noted that several new groups have since emerged and begun organising. Allan Liska of the US cybersecurity firm known as Recorded Future concurred, pointing out concerning trends among some of these new groups, as per AFP.

New Gangs Taking Over

Clemenceau mentioned that some of the newer gangs seem to be contemplating physical threats in addition to online intimidation. Liska also highlighted that these gangs often already possess a significant amount of personal information, such as the addresses of senior executives.

Experts working on the matter including Liska are still assessing the new landscape, saying a bunch of new groups have emerged, reported AFP. 

Cyber Criminals Regrouping 

Law enforcement dismantled LockBit's operations in February. According to US authorities, the gang had targeted over 2,000 victims and collected more than $120 million in ransom payments since its inception four years ago. Among their targets were Britain's Royal Mail postal service, US aircraft manufacturer Boeing, and a Canadian children's hospital. Authorities reported that hundreds of encryption keys had been recovered and provided to victims, effectively taking over the network's services. However, the software remains in circulation.

Just last month, a gang used LockBit to attack a government data centre in Indonesia, demanding $8 million in ransom. Experts interviewed by AFP concurred that ransomware attacks are likely to resurge quickly, potentially within the next few months, reported AFP.

AFP quoted Liska as saying, "It's going to bounce back. Right now there's just so much money in ransomware that people don't want to stop."