The Spread of Ransomware Attacks is Widening, GuidePoint Security Finds

July 25, 2024 – Published on VMblog

GuidePoint Security announced the release of its Q2 2024 Ransomware Report.

While the number of Q2 ransomware victims remained relatively stable at a 9% quarter-over-quarter increase, the diversity of those victims – and the ransomware groups targeting them – is growing. The GRIT Q2 2024 Ransomware Report observes major shakeups in the ransomware ecosystem following recent law enforcement operations, including a shift in the industries and geographies most impacted by ransomware activity.

The GRIT Q2 2024 Ransomware Report also takes an in-depth look at the evolving RaaS ecosystem, including the dramatic increase in activity of new and emerging ransomware groups. Other notable Q2 ransomware events include the growing role of RaaS relative newcomer RansomHub, an increase in Play’s operational tempo and LockBit’s discredited post claiming the United States Federal Reserve as a victim.

“As the ransomware ecosystem continues to evolve, we expect at least some portion of Emerging and Developing groups to steadily increase operations and become new long-standing Established groups,” said Justin Timothy, Security Consultant, GRIT. “It’s also likely that we’ll see ongoing threats from persistent, and quieter, ransomware groups, such as Play.”

Read More HERE.