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The world s top ransomware gangs have created a cybercrime cartel

The world s top ransomware gangs have created a cybercrime cartel
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Diavol ransomware linked to Trickbot botnet

Diavol ransomware linked to Trickbot botnet
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Ransomware cartel never reached potential, but future efforts may succeed

FBI’s cyber division personnel in front of a computer screen. In late 2020 and 2021 law enforcement scored a series of victories against cybercriminal actors, shutting down certain operations, seizing assets and/or making arrests related to Egregor ransomware, NetWalker RaaS and the Emotet botnet. (FBI) Counter to initial fears, researchers say the ransomware cartel formed by the Maze cybergang starting in May 2020 never hit its stride. Indeed, experts who spoke with SC Media said they doubt enough incentive currently exists for competing threat actors to overcome the inherent challenges in working collaboratively and developing a revenue-sharing model. If they ever were able to form an effective alliance, however, the resulting cooperative could present a significant danger to victims as they evolve their skills and weapons.

Did 4 Major Ransomware Groups Truly Form a Cartel?

Did 4 Major Ransomware Groups Truly Form a Cartel? An analysis of well-known extortion groups and their cryptocurrency transactions reveals the answer. A collection of ransomware groups that banded together to create a cartel rarely collaborate and don t share profits, suggesting that concerns over a sprawling cybercriminal organization are overblown, according to Analyst1. The four cybercriminal groups Twisted Spider, Viking Spider, Wizard Spider, and the Lockbit Gang announced at different times throughout summer 2020 that they would be working together but gave few other details. By November, when Twisted Spider also known as the Maze group closed down, it denied there had ever been a cartel.

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