“FIN7 strikes back: Analyzing the latest wave of ransomware attacks”

Cybercrime FIN7 Resumes Ransomware Attacks

A financially motivated cybercrime group with a notorious history, commonly known as FIN7, has launched a new wave of opportunistic ransomware attacks last month, marking the end of its 通過 o-year hiatus. The group had previously targeted the US retail, restaurant, and hospitality sectors and had not been involved in ransomware campaigns for nearly 通過 o years. Researchers from Microsoft reported on Thursday that the group launched ransomware attacks using the Cl0p ransomware variant against multiple unnamed targets. FIN7 has previously used a wide range of ransomware strains in its attacks, including REvil, Maze, DarkSide and BlackMatter, according to Mandiant.

The Background of FIN7

According to the FBI, FIN7 has a long track record of attacking payment and finance systems, dating back to at least 2015. The group has targeted around 100 US companies in attacks designed to steal payment credentials and sensitive data. The group came to global attention when it developed the ransomware strain used in the Colonial Pipeline attack in 2021, which affected fuel deliveries in the eastern United States and raised concerns about widespread ransomware attacks. In April 2022, a Ukrainian national connected to FIN7‘s activity was sentenced to five years in prison, and the group is believed to have established a fake company, called Combi Security, for illegal recruitment purposes.

The Microsoft Report

Microsoft disclosed on Thursday that the ransomware gang, which it refers to as “Sangria Tempest,” previously known as “ELBRUS,” had returned to action after a lengthy hiatus. Researchers with the tech giant’s Threat Intelligence Center said that Sangria Tempest had not been involved in ransomware attacks since late 2021. The new attacks mark a further escalation of ransomware-related cybercrime, and their opportunistic nature suggests that cybercriminals are seeking to exploit the chaos of the ongoing pandemic.

The Wider Implications

The return of FIN7 to ransomware operations highlights the growing threat of cybersecurity breaches, particularly in critical infrastructure systems, where even minor attacks can cause considerable disruption. The rise of ransomware attacks has been a significant concern for law enforcement agencies, policymakers and security experts worldwide, and it remains a top priority for efforts to improve cybersecurity in both the public and private sectors.

Conclusion

The return of FIN7 as a ransomware operator underlines the need for stringent cybersecurity procedures, including regular backups and employee training on how to identify and respond to potential phishing attempts. In addition, organisations must be vigilant in detecting and responding to any suspicious activity on their ne 通過 orks and ensure the implementation of adequate security protocols. The prevalence of cybercrime attacks on critical infrastructure highlights an urgent need for governments, businesses, and individuals to prioritise cybersecurity and to cooperate and collaborate effectively to mitigate such risks.

Finally, the emergence of new variants of ransomware reminds us of the importance of keeping sof 通過 are and systems up-to-date and secure. The development of regular patch schedules, the use of multi-factor authentication, and enhanced security measures can help prevent the spread of malware and limit the damage caused by cyberattacks.