New cybercrime takedown reveals violent cybergangs rising in power

TLDR:

• Law enforcement cracked down on cybergangs, including LockBit, a major ransomware developer.
• Despite takedowns, new violent cybergangs are emerging, posing threats of physical harm.

In a significant crackdown on cybergangs, global law enforcement operations targeted groups like LockBit, a Russian-affiliated gang known for developing ransomware software. LockBit has caused over $120 million in ransom payments from more than 2,000 victims over the past four years, leading to disruptions in critical infrastructure and public services. Although law enforcement managed to take over LockBit’s services, cybersecurity experts warn that the software is still out there, with ransomware attacks likely to rebound quickly.

Since the LockBit takedown, new cybergangs have emerged, organizing themselves in a worrying trend of physical violence threats on top of online intimidation. These gangs have access to personal information, including executives’ addresses, and are willing to use “violence as a service” to gain leverage in negotiations. The rise of violent cybergangs poses new challenges for law enforcement and cybersecurity experts, signaling a shift in the tactics used by cybercriminals.