Significant drop in ransomware but threat remains for UK

November 20, 2023 – Published on Security Brief UK

According to the October 2023 ransomware report compiled by GuidePoint Security’s Research and Intelligence Team (GRIT), there was a significant cooling off of ransomware incidents in October as compared to the very active month of September 2023. There was a noticeable 32% reduction in victims targeted by threat actors, following a previous spike in the recorded victims. Despite the slowdown, October’s reported victim numbers still significantly outnumber those from the beginning of 2023.

Grayson North, Senior Threat Intelligence Analyst at GuidePoint Security, reported that even though the volume of victims had reduced, there was no major decline in the number of active ransomware groups. Larger groups, termed “Established” groups by the publishing team, remain largely unchanged while smaller and newer “Ephemeral” and “Emerging” groups continue to demonstrate signs of resilience and continuity in a chaotic sector.

As conflict continues to rise in the Middle East, numerous ransomware actors have openly professed their allegiance, announcing their intent to execute cybercrimes in support of their preferred party. Nationalised hacktivism often manifests as DDoS attacks or website defacements, but there exists the possibility of ransomware actors shifting their victimology to target one side of the conflict. This operational shift is likely too recent to be reflected in the data, with the countries most affected by ransomware still being the United States, Canada, and the United Kingdom.

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