Ransomware, the highly profitable method used by cybercriminals to encrypt data on computer networks and demand a ransom payment in return, is constantly evolving. One of the leading groups that perpetrates these attacks, Babuk, has stated that is no longer interested in encrypting data on its victims’ networks. Instead, the group are now focusing on stealing sensitive and personal data and then demanding a ransom payment in order to not publicly release it.
Why the change of attack?
Firstly, it allows the group to extort the company even if they have robust backups of their data. In a traditional ransomware attack, the data is encrypted, but can be restored if the company has a backup of that data.
Falanx Assynt is a global intelligence consultancy and leading provider of geopolitical, strategic and business risk analysis since 2003. Falanx Assynt is part of Falanx Group Ltd (LON:FLX) which, through its subsidiaries, provides cyber defence and intelligence services to blue chip and government clients worldwide.