Page 135 - Cyber Defense eMagazine Annual RSA Edition for 2024

Ransomware Of the Month

Lockbit:

Despite law enforcement actions, LockBit quickly bounced back, registering the highest number of victims
this month. This underscores the group's technical prowess and resilience in the face of challenges.

Manufacturing emerged as the primary target, with the United States being LockBit's focal nation.

Interestingly, the impacted companies had revenues ranging from $5 million to $15.9 billion, meaning
LockBit affected a wide range of businesses, not just specific financial tiers.

The group's persistent dominance in victim count remains noteworthy, often attributed to the exploitation
of the ConnectWise ScreenConnect vulnerability.

INDUSTRIES TARGETED IN FEBRUARY 2024 COMPARED WITH JANUARY 2024

77

55
47
37
29 29
22 25 24 20 21
14 15 11 17 16 14 16 14 15 13 10
6 6 3 5 3 1

Jan-24 Feb-24

Source: OSINT

In February 2024, the manufacturing sector saw a 40% increase in ransomware victims compared to
January, reflecting a concerning trend. Real Estate & Construction, FMCG, and Government & Law also
experienced notable rises of 113.6%, 27.6%, and 107.1%, respectively. E-commerce &
Telecommunications, Healthcare, and Transportation witnessed increases of 66.7%, 118.2%, and
17.6%, respectively. Meanwhile, the Finance sector faced a 23.8% decline.

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