CYBERSECURITY BULLETIN
Ransomware as a service is creating major headaches for global businesses
RaaS is becoming an effective tool for cybercriminals who want a piece of the cyber-extortion action
Cybercrime groups like Maze and Netwalker have pioneered this business model. The demand for ransomware as a service (RaaS) is so high that 15 new ransomware affiliate schemes appeared during 2020, including Thanos, Avaddon, SunCrypt, and many others. Cybersecurity company Group-IB has outlined in a recent report, that almost two-thirds of ransomware attacks analyzed during 2020 came from cybercriminals operating on a RaaS model.
This year alone has seen a number of high-profile attacks — causing gas shortages on the U.S East Coast, interfering with hospital networks, and even disrupting Americans’ burger supply chains. In the majority of these cases, the ransom was paid quietly to resolve the situation. Since there is so much secrecy around these ransomware resolutions, the mechanics of ransomware attacks are poorly understood.
RaaS scheme brings together developers, dark web gangs, low-level attackers, and distributors among others to make it an extremely lucrative deal for all players involved. Contrary to the general understanding, there…
