Did 4 Major Ransomware Groups Truly Form a Cartel?
A collection of ransomware groups that banded together to create a "cartel" rarely collaborate and don't share profits, suggesting that concerns over a sprawling cybercriminal organization are overblown, according to Analyst1.
The four cybercriminal groups — Twisted Spider, Viking Spider, Wizard Spider, and the Lockbit Gang — announced at different times throughout summer 2020 that they would be working together but gave few other details. By November, when Twisted Spider — also known as the Maze group — closed down, it denied there had ever been a cartel.
In a nearly 60-page report, Jon DiMaggio, a former contractor for the National Security Agency (NSA) and now chief security strategist at threat intelligence firm Analyst1, investigated whether the groups had actually joined forces. While he documented their sharing of...