Ransomware Cyber Gangs Targeting Industrial Organizations

Industrial firms and organizations worldwide have been recently targeted by ransomware groups such as Pay2Key, RansomEXX, and Everest.

Cybersecurity company Digital Shadows said that industrial goods and services were the most targeted in 2020 and accounted for 29% of ransomware attacks.

The groups reportedly utilized Conti, Egregor, and Maze malware to paralyze and disable businesses by encrypting vital data in their network infrastructures and demanding ransom. 

To ensure they get paid, the ransomware operators have their own dedicated data-leaking sites, to list victims in a “name and shame” in order to pressure their victims into paying. 

The groups also ask victims for additional payment for a promise to delete stolen data or to refrain from selling it to other criminal gangs.

Because industrial companies cannot afford to delay their operations, some willingly pay the ransom.

“Industrial organizations will feel more pressure to pay the ransom as periods of inoperability have significant impacts on their customers. This may result in a perception that organizations in this area are more likely to pay a ransom demand compared to organizations in other sectors,” explained Jamie Hart, cyber-threat intelligence analyst at Digital Shadows.

According to Hart, most of the systems are at risk because they are in constant use which leaves their systems mostly un-patched and online. 

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