What is LockBit Ransomware and How it Works

AreaHacking.com –   LockBit went viral some time ago because it was suspected of hacking and stealing BSI Bank data, and because of that, many people started to wonder who LockBit was and what their motive was for attacking one of the banks in Indonesia.

So who is LockBit and how do they work? In this article we will explain in full about LockBit ransomware and how it works.

What is LockBit Ransomware?

LockBit ransomware is a new wave in a series of frightening cyber threats. Originally known as "ABCD," it is now an intimidating force in the world of online extortion. LockBit falls into the category of ransomware referred to as 'virus malware,' its focus skews more towards companies and organizations than individuals.

An attack using LockBit first appeared in September 2019, with the nickname ".abcd virus." However, this is only the beginning of a long journey. The targets involve organizations in various parts of the world, including the United States, China, India, Indonesia and Ukraine, as well as European countries such as France, England and Germany.

LockBit singles out targets who feel hampered by the intrusion, encouraging them to pay large ransoms. The main targets are large companies, ranging from the healthcare sector to financial institutions.

Another peculiarity is their attempt to avoid attacks on local systems in Russia or Commonwealth of Independent States countries, perhaps to avoid legal consequences in those regions.

LockBit operates as ransomware-as-a-service (RaaS). The party paying the deposit can use this attack and share the profits with the developer team and the attacker's affiliates. The ransom payment is split proportionally between both parties, providing an incentive for attackers to continue using the service.

How LockBit Ransomware Works

LockBit Deployment Strategy

LockBit, known as part of the “LockerGoga & MegaCortex” malware family, has similar behavior to other prominent ransomware. Key points of how it works include its ability to self-deploy within an organization, perform targeted attacks, and use similar tools such as Windows Powershell and Server Message Block (SMB).

Self-Reproducing Ability

What sets LockBit apart is its ability to reproduce itself without significant human intervention. This means that after infecting one host, an attack can automatically spread to other hosts, creating an efficient and difficult-to-stop chain of infection.

LockBit Feature Developments and Threats

LockBit has several variants with increasingly higher crime rates. The first variant used the extension "abcd," which later evolved into the extension "LockBit." The latest variant even goes beyond the pale by disabling security commands and threatening to release victims' personal data if instructions are not followed.

How to Protect Yourself from LockBit Threats

After knowing the dangers of LockBit ransomware attacks, you are obliged to protect your personal data. Here are 5 steps you can take to prevent ransomware attacks.

1. Strong Password : Apply a strong password with a variety of characters to avoid account breaches.

2. Multi-Factor Authentication : Enable multi-factor authentication to add an extra layer of security.

3. Review System Configuration : Review system settings periodically to identify potential security issues.

4. Periodic Backups : Always have a system backup and perform a cleanup to avoid permanent data loss.

5. Additional Security Protection : Make sure to use thorough antivirus and anti-ransomware cybersecurity to detect and prevent LockBit attacks in real-time.

By following these steps, you can minimize the risk of falling victim to this serious threat and maintain the continuity of your operations.

That's all the information from us, hopefully it's useful and don't forget to share this article, so that other people can also get knowledge.