LockBit, a ransomware group, started its operations in 2019 and identified itself as “ABCD” ransomware in the beginning. They operated by offering their ransomware tools to other cybercriminals through a model called ransomware-as-a-service (RaaS). This made it easier for anyone with malicious intent to conduct cyber attacks. LockBit mainly targeted businesses, government agencies, and healthcare providers.

They used various phishing methods like sending fake emails to trick people into clicking on harmful links or downloading infected files. Once inside a victim’s system, LockBit encrypted important files, making them inaccessible, they demanded a ransom for their release, this is known as triple extortion. Another method they used is the Distributed denial of service (DDOS), in which the target is overwhelmed with a flood of traffic, causing it to become slow or unresponsive to legitimate users. This can disrupt services, cause financial losses, and damage the reputation of the targeted entity.

The group gained quick infamy for their aggressive tactics and the significant financial losses they caused to their victims. They continued to evolve their methods over time, staying ahead of security measures and causing chaos across various sectors.

Some examples of their previous works are as follows:

Attack on Acer: In March 2021, LockBit targeted the multinational computer manufacturer Acer. The attack compromised sensitive data, including financial information and employee records. LockBit demanded a ransom payment of $50 million, one of the largest known ransom…