LockBit 3.0 and the Ransomware gang: In-Depth Theory

The LockBit ransomware crew has claimed a cybersecurity attack on digital security giant Entrust in 2022. At the beginning of June, Entrust told their customers they had a cyberattack, and attackers stole their internal systems information.

Entrust said that ” They have come across the LockBit ransomware 3.0 that took their files from their internal systems, and they are investigating the issue. Also, they told customers that they will contact them directly if they see that the protection of their products or services is getting affected, which we provide to enterprises.”

What is Lock bit Ransomware?

LockBit ransomware 3.0 is a new cyberattack that came across in June 2022. Previously, it is also known as ABCD ransomware and has been a unique vulnerability within the range of these gadgets. Crypto Trojan subpart is the LockBit ransomware 3.0 as it forms the payment requests around financial payment swapping for decryption. It primarily targets organizations and government corporations rather than personal ones.

LockBit attacks first came across in September 2019; at that time, they were called the “.abcd virus.” Various countries, like the United States, India, China, Indonesia, Ukraine, etc., have seen these attacks.

It is only feasible to target those who feel obstructed enough by the disruption to pay a heavy sum. However, it leads to prostrate attacks against large organizations from healthcare to banking. 

LockBit operates as ransomware-as-a-service (RaaS). Involved parties put a downpayment for using hire attacks and gain partner framework. Pay-offs are split between the LockBit developer team and the attacking associates, who will get around  ¾ of the payment funds.

Cybercriminal affiliates (i.e., BlackMatter actors) who deploy BlackMatter are able to profit from the ransomware’s developers through ransomware-as-a-service (RaaS). From Sept 2020 through May 2021 Black matter RaaS was active.

The mechanism behind LockBit Ransomware

Prearranging automated methods manage LockBit; therefore, it differs from other ransomware attacks. These assaults are driven manually in the organization — sometimes for a long time — to finish recon and observation. 

 Let’s just understand these attacks:

• The capability of spreading by itself inside an association as opposed to requiring manual bearing.
• Designated as opposed to spreading in a scattershot style like spam malware
• Using identical tools to escalate like windows Powershell and Server Message Block(SMB)

After the attacker has physically contaminated a solitary host, it can track down other open hosts, interface them to tainted ones, and offer the infection utilizing content. It is finished and rehashed totally without human mediation.

LockBit Decryption

With all the difficulty LockBit can cause, endpoint gadgets need exhaustive insurance norms across your whole association. This initial step is to have a complete endpoint security arrangement.

So, if your enterprise is affected by LockBit ransomware 3.0, its eradication does not give you an approach to your files. Then also, you need a “key” to unlock, and you can reinstall your systems.  

Prevention against LockBit 3.0 with ESOF

In order to ensure that your enterprise is resilient to malignant attacks, you must set up security measures from the very beginning. 

• ESOF VMDR (Enterprise Security in One Framework for Vulnerability Management, Detection, and Response) helps you in eliminating all the threats and risks present in the system of your organization. 
• With End-to-End capabilities, our product automatically prevents and prioritizes vulnerabilities and ransomware in the system.
• Scrutinize vulnerabilities, and prevent assets from malicious activities
• TAC Security’s ESOF VMDR will help you catch all files downloaded across the organization with real-time protection. An organization should take protective measures by deploying VM solutions such as ESOF VMDR in their initial stage.

Don’t be a victim. Lock it down, secure it up and prevent hackers from breaching your IT stack with ESOF.