Cybersecurity research groups have discovered a sophisticated ransomware variant known as BlackCat, the pioneer of ransomware variants written in the Rust programming language. It can also target numerous VMware, Linux, and Windows systems.
As for its operators, researchers suspected them using a double extortion model and searching for an affiliate to whom they will offer a massive ransom share to up to 90%. The researchers also explained that the BlackCat ransomware uses highly advanced methods in attacking its targets.
Since BlackCat ransomware is particularly new to the cyber landscape, nobody has a detailed description of this variant’s capabilities.
That is why researchers can only speculate regarding the matter as of now and study it further.
However, it is confirmed by the researchers that the BlackCat is running on a Rust model, which they can assure that it can attack systems like Linux and Windows. Also, a researcher claims that the developer of BlackCat ransomware was previously affiliated with the recently shut down threat group called REvil. It is also confirmed that the threat actors running the BlackCat are using a double extortion model against their targets.
But the most shocking discovery was that the threat actors operating the BlackCat ransomware are actively searching for partners who will be given a large share based on a victim’s value.
As of now, BlackCat’s operation has been targeting a few victims hailing from the United States, Oceania, and India, and their ransom rewards reach about a few hundred grand or sometimes, a $3 worth of cryptocurrency.
The BlackCat ransomware variant is the first successful strain to utilize the Rust programming language. It can also be a potential successor of the famous ransomware groups like REvil and DarkSide because of its ability to conduct a double extortion method.
Although BlackCat is in its developmental stage, experts suggest that the cybersecurity landscape should prepare once this ransomware is heavily used for numerous attacks. It will also not take long for BlackCat to find its partners, so it is imperative to update all cybersecurity defences available.
