LockBit digital gang named the world's top ransomware threat! Here's how you can stay safe

Global Authorities Identify 'LockBit' as the Leading Ransomware Threat

The United States, Canada, and five other countries singled out the digital extortion gang operating under the alias "LockBit" as the prime global ransomware menace on Wednesday.

In a united advisory, cyber authorities from the U.S., Canada, Britain, France, Germany, Australia, and New Zealand disclosed that the extortion software of LockBit, which encrypts victims' data until a ransom is paid, has become the most popular tool among cybercriminals."The LockBit ransomware variant was the most widely utilized across the world in 2022 and maintains its rampant use in 2023," the advisory stated. It went on to say that this gang and its associates have caused significant disruption to both large and small organizations globally.

'LockBit': A Persistent Global Cyber ThreatRansomware is a malicious software or malware that cybercriminals use to seize control of a victim's computer or network, and then extort money in return for unlocking the data. In 2022, LockBit emerged as the most prevalent ransomware variant worldwide and continues its widespread operation in 2023. This cybercrime gang and its associates have adversely affected numerous organizations globally.

The advisory presented firm figures only from three countries - 1,700 LockBit-related incidents in the United States, 69 in France, and 15 in New Zealand. However, LockBit is responsible for a significant portion of the ransomware incidents tracked by all seven governments. According to the advisory, the agencies involved attribute between 11 to 23 percent of all recent ransom-demanding hacks to this group.

Ransomware has been a cyber threat for many years, and the businesses associated with it have grown increasingly sophisticated. LockBit is among several groups that use an affiliate model, allowing other cybercriminals to leverage its code and infrastructure for a share of the profits.

According to agency estimates, global ransomware attacks surged by 151 percent in the first half of 2021 compared to the same period in the previous year.

Defending Against LockBit RansomwareThe best line of defense against any ransomware or malicious attacks is to establish protective measures from the onset. Here are some practices that can help enhance your organization's resilience:

1. Implement Strong Passwords: Avoid easy-to-guess or algorithm-crackable passwords. Opt for longer passwords with character variations and craft passphrases using self-imposed rules. 
2. Activate Multi-factor Authentication: Discourage brute force attacks by adding layers to your initial password-based logins. Incorporate measures like biometrics or physical USB key authenticators wherever possible.
3. Reassess User Account Permissions: Limit permissions to stringent levels to deter potential threats. Pay particular attention to endpoint user-accessed and admin-level IT accounts.
4. Remove Outdated and Unused User Accounts: Regular system checks should include deactivation and removal of old accounts from previous employees that may still be active.
5. Ensure Proper System Configurations: Regularly review existing setups for new vulnerabilities and outdated policies. Security procedures should be reassessed periodically to stay updated against new cyber threats.
6. Backup Systems: Regularly create system-wide backups and clean local machine images. In the event of an incident, the only fail-safe against permanent data loss is an offline copy.
7. Implement Comprehensive Cybersecurity: While LockBit can attempt to disable protections, enterprise cybersecurity software can provide real-time protection against file downloads across the entire organization. Consider reliable solutions like Kaspersky Security Solutions for Enterprise to safeguard your business and devices.