Trend Micro Report Reveals Increase of LockBit Ransomware Attacks in US

IT services firm Trend Micro has published a report showing the increase of LockBit ransomware attacks on US government offices.

LockBit is malicious software requiring financial payment in exchange for decryption. This cyber threat frequently exploits organizations with larger networks rather than mass consumers.

According to the company’s latest data, one in six ransomware attacks on US federal segments were traced back to LockBit.

These attacks were carried out against 47 percent of new victims in the second half of 2022.

‘Better-Informed’ Solutions Needed

The data revealed that ransomware infiltration of smaller organizations has surged compared to usual attacks on “big game” targets, as they are presumed to have lesser cybersecurity capabilities.

Trend Micro wrote that US organizations remain prime targets of ransomware operators. The most victims were recorded in the first half of 2023, accounting for almost half of all ransomware attacks.

The figure represents a 69.94 percent increase compared to the second half of last year, with the UK and Canada having the most number of attacks.

The most targeted elements during 2023’s first half were the retail, transportation, and banking sectors, while the IT, manufacturing, and healthcare sectors were second.

“Threat actors continue to innovate, target more victims, and cause significant financial and reputational damage,” Trend Micro Threat Intelligence VP Jon Clay stated.

“Organizations of all sizes must prioritize and enhance their cybersecurity posture.”

“Our report should help network defenders, policymakers, and other stakeholders make better-informed decisions in the ongoing fight against ransomware.”

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