The Rising Threat: Key Insights from the “Big Game” Ransomware Campaigns

Ransomware Key Learnings from “Big Game” Ransomware Campaigns

Evaluating the Current Ransomware Landscape

The threat of ransomware attacks continues to be a pressing concern for organizations, as evidenced by the recent surge in “big game” ransomware campaigns targeting major casino operations, as well as companies in manufacturing, retail, and technology sectors. While various organizations have adopted different approaches to dealing with these attacks, it is crucial for all organizations to leverage threat and event data to effectively mitigate the risk of ransomware attacks.

Understanding the Threat

To address the current surge in ransomware attacks, organizations must have a clear understanding of the threat landscape. Boards, leadership teams, and strategic customers and partners will inevitably inquire about an organization’s preparedness and risk mitigation measures. Therefore, organizations must possess comprehensive knowledge about the ransomware campaigns, including the adversaries involved, their motivations, and the specific industries they target. External data sources such as commercial, open-source, government, and industry reports, as well as frameworks like MITRE ATT&CK, can provide valuable insights.

Internal vulnerability assessments are equally important. Organizations need to assess their own vulnerabilities and evaluate their existing capabilities to defend against ransomware attacks. This internal understanding is crucial not only for communication with stakeholders but also for operationalizing the data to be better prepared in the event of an attack. Implementing a platform that aggregates and normalizes data from multiple sources and allows organizations to prioritize and assess risk based on their profile, security infrastructure, and operational environment is a key step.

Identifying the Internal Presence of the Threat

If an organization suspects that a ransomware campaign is already in progress, it is essential to identify the internal presence of the threat as soon as possible. By correlating external threat intelligence with data from security information and event management (SIEM) or endpoint detection and response (EDR) solutions, organizations can pinpoint anomalous activity and indicators of compromise associated with the specific ransomware campaign. This enables them to respond quickly and effectively before data is compromised and systems are locked.

Hardening the Infrastructure and Communicating

Understanding that threat actors continually shift tactics and employ multiple attack vectors, organizations must proactively harden their infrastructure to prevent ransomware attacks. Additionally, effective incident response and risk mitigation are dependent on utilizing threat intelligence at later stages of an attack. When an indicator of compromise is identified, organizations can pivot to additional external threat intelligence to gain contextual awareness and a deeper understanding of the attack. By correlating internal and external data, organizations can quickly determine the scope of the attack and engage their incident response teams to mitigate risk and remediate the situation.

Moreover, effective communication with key stakeholders is crucial. Organizations need to provide clear explanations of what occurred, how it was addressed, and assurance that the organization is protected against future attacks. Building trust and confidence with stakeholders is essential in maintaining a positive reputation and reputation management strategy.

Conclusion

While there is much that remains undisclosed about ransomware attacks, there is a wealth of data available to security practitioners. The key to effectively utilizing this data is to focus on the subset that is most relevant to the organization, dig deeper in real-time when an attack is suspected, and operationalize the data to take swift and appropriate actions. By understanding the evolving threat landscape, identifying internal threats, hardening infrastructure, and communicating effectively, organizations can enhance their resilience against ransomware attacks. However, it is crucial to continuously adapt and evolve security measures in the face of ever-changing attack tactics.