Ransomware attacks decline but growth imminent

Organizations impacted by ransomware attacks dropped by 34% between the first and second quarter of 2022, with the decline attributed to Conti ransomware's recent reorganization and the emergence of LockBit 3.0, reports VentureBeat. Most ransomware attacks were targeted at the U.S., while LockBit 2.0, ALPHV, Conti, and BlackBasta were the most prolific ransomware operations during the second quarter, showed a GuidePoint Research and Intelligence Team study. Despite the reduction in ransomware victims in the second quarter, ransomware attacks are not poised to continuously decline, with posting rates significantly increasing and four new ransomware gangs being introduced early on this quarter, said GuidePoint Security Principal Threat Analyst Drew Schmitt. Security teams have been urged to prepare for more cybersecurity threats, while chief information security officers have been encouraged to adopt strategies for bolstering organizational defenses. "We expect to see an uptick of LockBit 3.0 activity and potentially other restructuring and consolidation in affiliate-based ransomware operations," added Schmitt.