Collaboration among law enforcement agencies from various countries including the Federal Bureau of Investigation and the U.K. National Crime Agency have successfully disrupted the notorious LockBit hacking group, which is known for its ransomware attacks.
What Happened: A statement posted on the gang’s website on Monday asserted that it is currently “under the control” of the U.K. agency, the FBI, and other law enforcement bodies. The agencies have also seized the websites used by the group for ransomware payments, reported Bloomberg.
The operation involved law enforcement from 11 different countries and resulted in the seizure of 11,000 domains used by LockBit and its affiliates for ransomware activities. The operation targeted LockBit’s infrastructure and its malware deployment system, according to an FBI official.
See Also: FBI Director Warns Of China’s Cyber Threat, Labels Current Situation As ‘Tip Of The Iceberg’
LockBit is known for using ransomware to encrypt files on victims’ computers and demanding payment for their release. The group recruits hackers to carry out cyberattacks using LockBit’s tools and infrastructure, taking a cut of any ransom extorted in the hacks.
The cyber gang's criminal activities have had far-reaching consequences, including the disruption of the $26 billion U.S. Treasury market through an attack on the U.S. arm of the Industrial & Commercial Bank of China Ltd. or ICBC.
The group’s most recent iteration, LockBit Green, was responsible for a cyberattack on EquilLend, a trading platform processing trillions of dollars of transactions monthly, the report noted.
Why It Matters: LockBit initially gained attention in 2021 under the name LockBit 1.0. Subsequently, in 2022, it evolved into LockBit 2.0, and its most recent version is referred to as LockBit Green.
According to the FBI, the hacking group has claimed 1,600 victims in the U.S. and 2,000 internationally. The majority of these victims are from the private sector.
The FBI stated that it is monitoring 144 million ransom payments connected to LockBit attacks.
Last year in June, Taiwan Semiconductor Manufacturing Company Ltd. confirmed a data breach after being listed as a victim of the LockBit ransomware gang. The gang threatened to publish stolen data unless a $70 million ransom was paid.
In October, Boeing Co. faced a potential cybersecurity crisis when the cyber gang demanded a ransom, threatening to release sensitive data unless their demands were met.
These incidents, along with others such as the global ransomware attack in February 2023, have highlighted the growing threat of cybercrime and the need for international cooperation to combat it.
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