LockBit cybercrime gang resurfaces after global police bust | #cybercrime | #infosec

The LockBit cybercrime gang, which faced a global law enforcement operation earlier this month, has resurged.

The ransomware gang claims to have restored its servers and resumed operations merely a week after Operation Cronos, the international policing operation, targeting the gang’s members.

A statement, posted on a new dark web site, revealed the group’s acknowledgement of negligence that allowed the FBI and the UK’s National Crime Agency (NCA) to seize control of its servers.

Despite this setback, the gang said that backups are in place, and they remain fully operational.

LockBit, known for targeting high-profile entities such as the NHS, Taiwanese chip giant TSMC, and the Japanese port of Nagoya, had been under intense scrutiny.

The FBI was able to gain control of 28 servers, leading to the acquisition of crucial intelligence on the gang’s past, present, and future operations.

The group’s dark web website, used for leaking stolen data, was allegedly hacked using a vulnerability, according to a lengthy statement posted in both English and Russian on the new version of LockBit’s dark web platform.

The operation, seen as an attempt to discredit LockBit’s affiliates, seeks to curtail the influence of criminal groups using LockBit’s tools for ransomware attacks.

In its 2023 Cybersecurity Thematic Intelligence report, research and analysis company GlobalData forecasted that global cybercrime will reach $10trn annually by 2025.  

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By GlobalData

Tackling rising cybercrime, like hacktivism and AI-assisted phishing, will require a large upfront investment from companies and by 2030 cybersecurity revenues could reach up to $344bn, according to the company. 

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