The ALPHV, better known as the BlackCat ransomware, was first identified by researchers in the early weeks of November last year and immediately proved to everyone that they are indeed sophisticated.
The BlackCat is the first that used Rust-based malware since most ransomware gangs do not even contemplate using the same malware. As of now, BlackCat is gaining an increasingly good and bad reputation globally.
Analysts said that BlackCat reached the seventh position in the global ransomware groups power rankings. The basis of this ranking is on the number of victims listed in every ransomware group’s data leak site. In just under 30 days, the BlackCat ransomware has gathered over a dozen victims in several countries such as the Philippines, Germany, France, Spain, the Netherlands, and the US.
Another report by a researcher said that the ransomware group has been targeting organisations in Australia and India and demanding ransom payments for about $400,000 to $3 Million in Monero or Bitcoin.
The victims of this sophisticated threat group come from multiple sectors such as engineering, machinery, telecom, construction, retail, commercial, insurance, and pharmaceutical.
Based on a recent study about BlackCat ransomware, there are several reasons why it quickly rose against other ransomware groups.
One reason is that BlackCat ransomware group has effective marketing to its affiliates.
The group solicits for its connections in notorious dark web forums and lets them keep their share of the ransom payment for about 80% to 90%.
The developers of BlackCat can effortlessly compile the malware against any operating system by utilising the Rust programming language. Additionally, Rust allows the hacker to individualise attacks since they are highly customisable.
Another detail about the BlackCat ransomware is that they recruit former members of big-time hacking gangs such as BlackMatter, DarkSide, and REvil There is a rumor that the BlackCat group is interviewing other gangs’ affiliates before adding them to their current lineup.
The BlackCat ransomware is a sophisticated and innovative strain that has a clear objective of targeting the top spot as the most lethal group today. It is rapidly increasing its reputation among cybercriminals and cybersecurity authorities. The group also shows being a well-funded threat group with tremendous upside potential.
