How LockBit Changed Cybersecurity Forever

08/05/2023

LockBit is a Ransomware-as-a-Service (RaaS) group that operates in a unique manner. Rather than the typical invoicing system for affiliates that were commonly employed in the ransomware industry, LockBit placed its affiliates in charge of negotiations and payments. This decision helped to establish trust and remove the fear of being swindled, as affiliates are now responsible for being paid directly by victims.

LockBit also initiated a “Call for Papers,” which generated a significant amount of interest, and a bug bounty program, which offers rewards ranging from $1,000 to $1 million for vulnerabilities discovered in their ransomware operation.

LockBit’s innovative approach made it the preferred choice among affiliates, and its unique branding journey, including a logo and tattoo incentives, made them stand out in the ransomware industry.

The group’s infrastructure transformation and LockBit Red, also known as LockBit 2.0, which made the ransomware process more user-friendly, have proven successful. According to Dragos, LockBit is responsible for a significant portion of ransomware attacks on industrial organizations and infrastructure in 2022, with a staggering 33% and 35%, respectively, during Q2 and Q3.

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