08/06/2024
Fortune 50 Ransomware Victim Pays an Eye-Watering $75 Million
The Dark Angels ransomware group got paid a staggering $75 million ransom from an undisclosed Fortune 50 victim.
This eye-watering sum shatters the previous record of $40 million paid by insurance giant CNA Financial in 2021, setting a new and alarming benchmark in the ransomware landscape.
The revelation comes from the latest ZScaler ThreatLabz ransomware report, which paints a grim picture of the current state of cybersecurity. Chainanalysis, a cryptocurrency tracking firm, also confirmed it spotted the $75 million payment to Dark Angels.
Focuses On One Large Company At A Time
Compared to other ransomware groups, Dark Angels stands out by focusing on a "single large company at a time," and demanding a high sum, Zscaler says. "This is in stark contrast to most ransomware groups, which target victims indiscriminately and outsource most of the attack to affiliate networks."
For instance, Zscaler reported that in September 2023, Dark Angels breached an international conglomerate specializing in building automation systems and other services. The group stole 27 TB of corporate data while encrypting the company's VMware ESXi virtual machines and subsequently demanded a $51 million ransom.
93 Percent Increase in Ransomware Attacks Targeting the U.S
According to the report, global ransomware attacks have surged by 18% YoY, with healthcare, manufacturing and technology sectors bearing the brunt of these malicious activities. Particularly concerning is the manufacturing sector, which has experienced more than double the attacks compared to the other two industries combined.
Geographically, the United States remains the prime target for ransomware attacks, accounting for nearly half of all incidents worldwide. The UK follows closely behind. What is even more alarming is the 93% increase in ransomware attacks targeting the U.S. compared to the previous year, highlighting the urgent need for improved cybersecurity measures across the nation.
The Impact of Major Ransomware Groups
While the Dark Angels group may not be a household name like some of their more notorious counterparts, their recent payday certainly puts them in the spotlight. The cybercrime landscape is constantly shifting, with new groups emerging and others fading away. ZScaler has tracked a total of 391 ransomware gangs over the years, with 19 new ones identified between April 2023 and April 2024 alone.
Despite law enforcement efforts to disrupt their operations, established ransomware groups continue to dominate the scene. LockBit remains at the top of the list, followed by BlackCat (ALPHV), 8Base, Play, and Clop. These groups consistently demonstrate their ability to adapt and evolve, staying one step ahead of security measures.
The record-breaking ransom paid to the Dark Angels group serves as a stark reminder of the critical importance of security awareness and training. As ransomware attacks grow in both frequency and severity, organizations must prioritize educating their employees about potential threats and best practices for prevention.
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