5 of the Biggest Ransomware Groups, and How They Target Local Businesses

Introduction

As a business owner, I’m sure you are well aware of the constant cybersecurity threats we face in the digital age.

 

It seems every other day we see headlines about large firms being targeted by Ransomware.

 

As a local IT provider, it’s our mission to protect our clients from these types of attacks, but we also value our duty to care for the broader business community as a whole.

 

Awareness of cyber threats can help you make the right decisions about technology solutions and what is worth investing in.

 

In this article, we’ll cover five of the most dangerous ransomware groups, what they look for in their targets, and steps you can take to better protect yourself from these threats.

Maze aka ChaCha

Maze ransomware was first found in 2019 and is estimated to be the main culprit in over 1/3rd of all ransomware attacks.

Most notably, the Maze group made headlines when they demanded millions of dollars from a state bank in Latin America.

When Maze ransomware was first discovered, it was most commonly distributed through attachments in emails sent from seemingly legitimate sources. More recent attacks have began using new methods to drop the ransomware payload. For instance, many Maze ransomware attacks have used stolen or guessed username and password combinations to infiltrate a network. Training employees on cybersecurity awareness and implementing authentication systems like MFA are vital tools to protecting your business from these types of ransomware attacks.

Conti Ransomware

Conti first appeared in 2020, and is estimated to account for about 13% of all ransomware attacks.

Once Conti Ransomware is successfully deployed, it immediately begins a series of actions designed to mitigate the victims ability to protect themselves, including deleting volume shadow copies (an automated backup / snapshot system on Windows devices), as well as disabling monitoring softwares and defense applications.

The strange thing about Conti is that when they hold the company for ransom, they will also offer security advice on how to plug the holes from future breaches – almost like they have a guilty conscious, or try to justify their otherwise criminal actions.

According to NHS digital, the only guaranteed way to recover from a Conti Ransomware attack is to restore all affected files from the most recent backup.

REvil Ransomware

REvil Ransomware is a Russian-based Ransomware-as-a-service (RaaS) operation, estimated to account for about 11% of all attacks.

Most notably, in 2022, REvil claimed to have stolen plans for upcoming Apple products, threatening to release the plans publicly unless their ransom was paid.

In 2022, the Russian Federal Security Service claimed to have dismantled the group and charged several of its members, but attacks using REvil ransomware have still been seen in 2023.

Netwalker Ransomware

The group behind this Ransomware have made over $25million by targeting a large volume of business users.

A Windows-specific ransomware designed to encrypt and exfiltrate all the data it breaches, after a successful attack, victims are presented with a ransomware note, demanding bitcoin payment in exchange for the full decryption of their compromised data.
Police managed to seize and arrest a Canadian national on the grounds of extorting over $27 million.

Once again, the most reliable way of recovering from a Netwalker ransomware attack is to restore your compromised files from a recent backup.

DoppelPaymer Ransomware

This group frequently targets healthcare, emergency services, and education services. The group made headlines by targeting Delaware County and receiving over $500,000.

As of March, a coordinated effort involving Europol, the FBI and the Dutch Police, led to the arrest of two individuals who allegedly play a major role in the development of the ransomware, but time will tell how long it takes before DoppelPaymer is no longer a threat.

What do all of these groups have in common? They lock and encrypt files on business networks.

How You Can Stay Protected

If you are worried about Ransomware and the potential risk, there are a few things you can do to reduce the risk.

To start, regularly performing software updates and patching of all your business devices is essential, as these patches routinely catch and fix discovered vulnerabilities. We have software that can help manage patching on your network.

Other risk mitigation includes regularly checking your backup solution and testing to make sure it is 100% restorable. There’s nothing worse than receiving a phone call from someone hit by Ransomware that does not have a working backup of their data.

If you would like assistance or advice in how you can reduce your businesses risk of being targeted by Ransomware, get in touch with us today.

Get in touch with us

Secutor Cybersecurity is a trusted partner comprised of industry leading experts in the fields of Cybersecurity and Governance, Risk and Compliance. We partner with our clients to deliver on-demand solutions tailored to expertly navigate the regulatory demands of their specific industries.

Our proven track record of successfully exceeding client expectations is achieved through the combination of our methodical approach, advanced technologies, subject matter experts, and synergy with client team members.

Secutor is your team of world-class problem solvers with vast expertise and experience delivering complete solutions keeping your organization protected, audit-ready, and running smoothly.

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Jason Fruge

Consulting Chief Information Security Officer (CISO)

Jason Fruge is an accomplished Consulting Chief Information Security Officer at Secutor Cybersecurity, bringing over 25 years of deep expertise in information security. His storied career includes leading and managing robust security programs for Fortune 500 companies across retail, banking, and fintech sectors. His current role involves providing strategic guidance and advisory services to clients, focusing on security governance, risk management, and compliance.

Apart from his consulting responsibilities, Jason is an active member of the global cybersecurity community. He is a Villager at Team8, a prestigious collective of senior cybersecurity executives and thought leaders. Additionally, he serves as an Advisor at NightDragon, an innovative growth and venture capital firm specializing in cybersecurity and enterprise technologies.

Jason’s tenure as a CISO is marked by a proven track record in developing and implementing comprehensive security policies and procedures. He adeptly leverages security frameworks and industry best practices to mitigate risks, safeguarding sensitive data and assets. His expertise encompasses incident response and root cause analysis, where he has notably managed cyber incidents to prevent breaches and minimize business disruption and customer impact.

A key aspect of Jason’s role has been the creation and facilitation of executive and board-level cyber risk committees, ensuring organizational alignment and awareness. His responsibilities have extended to maintaining compliance programs for standards such as PCI and SOX, as well as leading privacy and business continuity programs. Holding prestigious certifications like CISSP, QSA, and QTE, Jason is also a recognized thought leader, contributing articles on cybersecurity to InformationWeek.

Jason’s passion lies in driving innovation and fostering collaboration in the cybersecurity field. He is currently seeking an executive CISO role in a leading retail, finance, or fintech organization, where he can continue to make significant contributions to the cybersecurity landscape.

Jennifer Bayuk

Cybersecurity Risk Management Expert

Jennifer Bayuk is a highly esteemed cybersecurity risk management thought leader and subject matter expert at Secutor Cybersecurity. Her extensive experience encompasses managing and measuring large-scale cybersecurity programs, system security architecture, and a wide array of cybersecurity tools and techniques. Jennifer’s expertise is further deepened with her proficiency in cybersecurity forensics, the audit of information systems and networks, and technology control processes.

Jennifer’s skill set is comprehensive, including specialization in cybersecurity risk and performance indicators, technology risk awareness education, risk management training curriculum, and system security research. Her academic achievements are noteworthy, holding Masters degrees in Philosophy and Computer Science, and a Ph.D. in Systems Engineering. This strong academic background provides a solid foundation for her practical and strategic approach to cybersecurity challenges.

Certified in Information Systems Audit, Information Systems Security, Information Security Management, and IT Governance, Jennifer is a well-rounded professional in the field. Her credentials are further enhanced by her license as a New Jersey Private Investigator, adding a unique dimension to her cybersecurity expertise.

At Secutor, Jennifer plays a pivotal role in steering cybersecurity initiatives, aligning them with organizational risk appetites and strategic objectives. Her ability to educate and train in the realm of technology risk has been instrumental in raising awareness and enhancing the cybersecurity posture of our clients. Her dedication to research and continual learning makes her an invaluable resource in navigating the ever-evolving cybersecurity landscape.

Jennifer Bayuk’s blend of academic prowess, practical experience, and certifications make her an indispensable part of our team, as she continues to drive forward-thinking cybersecurity solutions and risk management strategies.

Steve Blanding

CISO Consultant

CISSP, CISA, CGEIT, CRISC

Steve is an IT management consultant living in Dallas, TX. Steve has over 35 years of experience in executive IT leadership, IT governance, risk and compliance (GRC), systems auditing, quality assurance, information security, and business resumption planning for large corporations in the Big-4 professional services, financial services, manufacturing, retail electronics, and defense contract industries. He has extensive experience with industry best practices for adopting and implementing new technologies, IT service management frameworks, and GRC solutions that have dramatically improved customer satisfaction while reducing cost.

Industry Experience

  • State Government: 5 years
  • Retail: 5 years
  • Defense Contract: 5 years
  • Manufacturing: 2 years
  • Health Care: 2 years
  • Local Government: 2 years
  • Public Accounting (Big 4): 7 years
  • Insurance: 3 years
  • Financial Services: 5 years

Key Career Accomplishments

  • Conducted a full-scale ISO27000 audit 4 times over the past 6 years.  Also, conducted a “light” ISO27000 review of a small Dallas-based company in 2007.
  • Developed and authored a comprehensive IT security policy manual, incident response plans, training programs, security contingency plans and configuration management plans for FedRAMP regulatory compliance.
  • Conducted multiple DR and operational backup and recovery IT risk assessments of critical business systems on mainframe, LAN, and distributed system networks located across North America.
  • Conducted data centers audits for Tyco Corporation (Brussels, 2005 and Denver, 2006), Farmers Insurance (Los Angeles, 2006), Zurich Financial Services (Chicago, Kansas City, and Grand Rapids, 2006), and Convergys Corporation (Dallas, 2010, 2011, and 2012).
  • Led a project to remediate segregation of duties and streamline user access system security and HIPAA compliance administration across 5 regions in North America, resulting in cost savings of $700,000 per year (Kaiser Permanente).
  • Implemented Sarbanes-Oxley Section 302 and 404 IT general and application controls, reducing security administration costs and improving operational performance by 50% or $500,000 annually (Tyco Corporation).
  • Led the global SAP business-IT alignment, process re-design implementation initiative for financial accounting, materials management, production planning, quality management, sales and distribution, warehouse management, and plant maintenance, which resulted in creating $2,000,000 in cost savings.
  • Engaged by Arthur Andersen in Houston to transform the local IT organization and then direct 3 organizational mergers/consolidations, which resulted in a 25% reduction in operating costs, or $3,250,000, while improving customer satisfaction by 30%, and improving employee morale, technology availability and the quality of IT infrastructure and service delivery.
  • Assigned by Arthur Andersen global leadership to lead global project teams responsible for data center and customer support call center consolidation, which resulted in annual operational cost savings of 45% or $4,000,000.
  • Implemented ITIL service management practices for problem management, incident management, help desk, project management, and operations management.
  • Conducted SOX 404 audits at Duke Energy (6 months), Red Hat (3 months), Tyco (9 months), Zeon Chemicals (4 months), and Convergys (2 months). Experience includes control design/documentation and effectiveness testing.

Publications:

Author, various articles in EDPACS and Auerbach’s IT Audit Portfolio Series, 1981 – 2001

Author, various articles in the Handbook of Information Security Management, 1993 – 1995

Editor, Auerbach’s Enterprise Operations Management, 2002

Editor, Auerbach’s IT Audit Portfolio Series, 2000 – 2002

Consulting Editor, Auerbach’s EOM Portfolio Series, 1998 -2001

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