Until November 2023, this group with suspected ties to Russia has accumulated ransom payments totaling a minimum of $100 million from over 90 victims.
In a recent joint report by the Cybersecurity and Infrastructure Security Agency and the Federal Bureau of Investigation, a new ransomware gang named Black Basta has been identified as breaching over 500 organisations globally between April 2022 and May 2024.
This group has targeted various sectors, including healthcare, spanning across North America, Europe, and Australia.
Black Basta, coming through as a Ransomware-as-a-Service operation in April 2022, has quickly gained notoriety by attacking numerous high-profile victims such as Rheinmetall, Hyundai, Capita, and the American Dental Association, among others.
Believed to have connections to the former Conti cybercrime syndicate, Black Basta operates with sophistication and a steady stream of initial access to its targets.
One of the key tactics employed by Black Basta involves stealing corporate data before encrypting a company's devices.
This stolen data is then used in double-extortion attacks, where victims have demanded a ransom to prevent the publishing of their sensitive information.
The gang's data leak site, 'Black Basta Blog' or 'Basta News,' lists victims and progressively releases data to pressure them into paying the ransom.
Technical analysis reveals that Black Basta utilises the ChaCha20 encryption algorithm to encrypt files, rendering them inaccessible without the decryption key.
Victims are left with a custom extension appended to their encrypted files, along with a ransom note providing instructions on how to negotiate with the threat actors.
Responding to this spreading threat, federal agencies advise organisations to maintain up-to-date operating systems, employ phishing-resistant Multi-Factor Authentication, and train users to identify and report phishing attempts.
Securing remote access software and implementing recommended mitigations are essential steps in blocking the risks posed by Black Basta and similar ransomware attacks.
Healthcare organisations are particularly vulnerable, given their size, technological reliance, and access to sensitive patient information.
CISA and the FBI have suggested adhering to the StopRansomware Guide in order to dodge potential attacks in the healthcare sector.
Recent incidents, including an attack on healthcare giant Ascension, accentuate the urgency of addressing the threat posed by Black Basta.
With the gang's ability to readily expand its victim pool and employ coercive tactics, organisations must remain particularly careful and implement robust cybersecurity measures to mitigate the risk of falling victim to ransomware attacks.
Considering the course of events, cybersecurity experts emphasise the importance of ardent measures, including regular backups, system updates, and employee training, to strengthen defences against ransomware threats like Black Basta.
This calls for collective efforts to combat the growing menace of ransomware and protect critical infrastructure from malicious actors.
This Cyber News was published on www.cysecurity.news. Publication date: Mon, 13 May 2024 17:43:04 +0000