LockBit Leads as Rampant Ransomware Activity Continues

April 28, 2023 – Published on Security Boulevard

Ransomware actors continue to focus their attacks on the manufacturing sector, and LockBit remains the most prolific threat group, according to the results of the GuidePoint Research and Intelligence Team’s (GRIT) Q1 2023 ransomware report.

The study indicates ransomware activity rose by 25% compared to the fourth quarter of last year, with the United States bearing the brunt of ransomware attacks, followed by the UK, Germany, Canada and France.

Increases in “data only” extortion efforts and increasingly coercive selective public leaks are among the most popular methods threat actors use to maintain profitability and market share as they adapt to an increasingly crowded ransomware-as-a-service (RaaS) ecosystem.

Drew Schmitt, managing security consultant at GuidePoint Security, pointed out that the report’s identification of escalating trends with respect to RaaS groups is especially notable.

“Over time, we have observed ransomware groups evolving based on pressures from law enforcement and organizations defending themselves better,” he said.

As ransomware groups see their revenue declining, they are likely to continue escalating extortion tactics, and that is exactly what is happening, Schmitt said.

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