BlackCat Emerges as one of the Top Ransomware Threats

What is this BlackCat Ransomware?  

BlackCat (also known as ALPHV) is a new ransomware-as-a-service (RaaS) operation that has been aggressively recruiting associates from other ransomware groups and targeting organizations worldwide.  

One of the main differences from other ransomware actors is that BlackCat malware is written in Rust, which is unusual for malware developers. Their infrastructure websites are also built differently than those of other ransomware groups. Due to Rust’s advanced cross-compilation capabilities, both Windows and Linux samples appear in the public. In other words, BlackCat has made incremental advances and a shift in technologies to address the challenges of ransomware development. 

BlackCat, like other ransomware groups, extorts money from targeted organizations by stealing important data (and threatening to release it publicly) and encrypting systems. BlackCat, on the other hand, takes a step further and threatens to launch a distributed denial-of-service (DDoS) attack if its demands are not met. This technique is referred to as “triple extortion.”  

Furthermore, BlackCat has gained traction since late 2021 by offering payments to its affiliates of up to 90%.  

 Who are the victims of BlackCat?  

The developers of BlackCat appear to be targeting businesses and organizations rather than individuals, which makes sense since these types of organizations are more likely to pay the ransom than individuals would be.  

BlackCat is a group of cybercriminals that targets businesses to steal their intellectual property and personal data. Construction and engineering, retail, transportation, commercial services, insurance, and machinery are among the industries targeted.  

The BlackCat group also has attacked firms in Europe and the Philippines. So far, the majority of its victims have been from the United States, but this may change as it expands its reach throughout the world.  

Among the BlackCat ransomware attacks, it has been stated that the oil companies Oil tanking and Mabanaft had been affected by a ransomware attack on January 29, 2022, that impacted one of the key oil providers in the area. Shell rerouted their shipments in response to the attacks to avoid serious disruptions in the German gas supply. Even with these actions, it’s been stated that 233 gas stations across Germany have been affected by the attack, resulting in those stations having to run some processes manually and only taking cash payments.  

How to stay safe from Blackcat ransomware  

AI-Driven Sandbox Quarantine   

With the development of custom-crafted ransomware attacks, it's more important than ever to be able to detect and block never-before-seen threats before they harm. Traditional approaches rely on out-of-band malware analysis, which sends never-before-seen files to the user for examination, resulting in potential infections that will encrypt systems and bring the business to a halt. When it comes to ransomware, receiving a notice after the event is too little, too late. A stronger sandboxing method is required to prevent these critical assaults. The key to successfully stopping ransomware can be built on a cloud-native approach. 

Inspect All SSL Traffic  

More than 90% of all traffic is now encrypted, according to Google, and attackers frequently use encryption to mask their attacks, including ransomware. As a result, checking every traffic is critical for drastically lowering risk while dealing with ransomware. Full SSL examination, on the other hand, might be difficult. Decrypting, examining, and re-encrypting traffic takes a lot of computing power, and traditional security solutions like next-generation firewalls don't have that. It makes no difference if the old solution is a physical appliance or a virtual machine in the cloud; both suffer performance degradation while analyzing SSL traffic. Unlike legacy approaches, a cloud-centric proxy architecture enables you to deliver top-to-bottom SSL inspection.  

Follow Off-Network Connections  

When it comes to ransomware, another issue that businesses face is always-on security. What happens if users leave off the VPN and your network with older methods rooted in the data center? Unfortunately, with the advent of remote work, adversaries have stepped up their game and are now spreading ransomware, knowing that many users are connecting across their home networks and public Wi-Fi, and are frequently using unmanaged devices. It is essential that all employees follow the company's security policy. 

Other Recommended actions 

  1. Maintain your software with the latest security updates.  
  2. Monitor and strongly, regularly remind employees not to open and report suspicious emails.  
  3. Use a backup system to backup server files.  
  4. Encrypt important files, i.e., those files which include sensitive or personally identifiable information (PPI) using open-source software.  
  5. Make sure two-factor authentication is enabled in all services.  

Research predicts that ransomware isn’t going anywhere. Legacy tools are unable to identify and stop the latest malicious threats. Preventing RaaS-related compromises requires a proactive approach to cybersecurity. Our Experts at KnackForge can help customers prevent ransomware and countless other security attacks from reaching their networks with unparalleled scalability and excellent user experiences.