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The New Year has Started with a Bang !
Many businesses have fallen prey to a new ransomware attack, " Babuk Locker", with the start of the new year ...
Article By Betallion44
January 6, 2021, 4:31 pm
A ransomware is terrorizing its victims and demanding thousands of dollars. The ransomware named Babuk Locker began attacking its victims with the start of year 2021. Its victims are spread throughout the world. The ransom demanded, thus far, has ranged between $60,000 up to $80,000.
A security researcher, Choung Dong, has analysed this ransomware in detail on his blog (chuongdong.com/blog). He has stated that;
Babuk is a new ransomware that started at the beginning of this year. Despite the amateur coding practices used, its strong encryption scheme that utilizes Elliptic-curve Diffie–Hellman algorithm has proven effective in attacking a lot of companies so far.
Because the malware authors are using one private key for each Babuk sample, it’s clear that their main target is large corporations instead of normal computer users. So far, according to the website embedded in the ransom note as well as the leaks on Raidforums, they have successfully compromised Sabelt, BOCA group, Spiratex, and Mecol.
When a victim falls prey to this ransomware attack, all data is encrypted on the devices, as well as, the connected servers. Subsequently, a ransom note is provided, which includes instructions regarding payment of ransomware and contact procedures. Few victims tried to contact and requested proof of possession of the sensitive data from these hackers, to their dismay, they were provided with extracts of such stolen data.
The victims of these ransomware attacks include an air conditioning company, an elevator company and a medical testing products manufacturer. The hackers have also threatened to leak the sensitive information to the public if the victim does not cooperate.
Many businesses were already struggling due to the vast disruptions caused by the pandemic in the year 2020. This new ransomware attack targeted at businesses brings even greater challenges for them in the year 2021.
In the past 5 years these ransomware attacks have not only become more frequent but also more lethal. The big, small or medium, all types of businesses are constantly at the risk of such attacks. Many regulatory authorities in various countries have also issued rules and regulations, for small and medium sized and large corporations to follow and comply with, so that public data and sensitive information can be kept safe.
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