Independent cryptocurrency ransomware gangs are now forming syndicates

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Posted on: June 10, 2020 6:16 pm EDT

Once-isolated crypto thieves are joining forces to create larger organized groups

Just like any other activity that evolves over time, ransomware gangs seem to be working into forming some alliances to create something similar to syndicates. Based on recent attacks from known cyber-criminal groups, it has been suggested that gangs are joining cartel-like alliances to put extra pressure on their victims and force them to pay the ransom requests. In a darknet site that belongs to the Maze group, there has been some stolen data being leaked since Sunday, according to what Cointelegraph reported.

One of the main things that were discovered in this site is one gang note from the ransomware group Ragnar Locker that posted a blog with the title: “MAZE CARTEL Provided by Ragnar.” This post listed some US-based companies as victims and, according to threat analyst Brett Callow with malware lab Emsisoft, since Ragnar Locker’s leak site is currently offline, it might be possible that the organization is planning to distribute all future leaks via Maze; however, this is just a speculation.

Maze has been using its darknet website to leak stolen data from ransomware attacks made to different industries when the companies refuse to pay the ransom. According to intelligence company Kela, Maze recently added another batch of stolen data coming from another gang known as LockBit. Actually, the group sent a statement to BleepingComputer on June 3, “In a few days another group will emerge on our news website, we all see in this cooperation the way leading to [a] mutually beneficial outcome, for both actor groups and companies.”