Research finds 56% increase in active ransomware groups

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layout="nodisplay"></amp-position-observer>  <script id="post-schema" type="application/ld+json"> { "@context": "http://schema.org", "@type": "Article", "headline": "Research finds 56% increase in active ransomware groups", "mainEntityOfPage": "https://securityintelligence.com/news/research-finds-56-percent-increase-active-ransomware-groups/", "author": { "@type": "Person", "name": "Josh Nadeau" }, "datePublished": "2024-11-18T09:00:00-05:00", "dateModified": "2024-11-18T13:01:18-05:00", "publisher": { "@type": "Organization", "name": "Security Intelligence", "logo":{ "@type": "ImageObject", "url": "https://securityintelligence.com/wp-content/themes/security-intelligence/assets/img/logo.png" } }, "image": [ "https://securityintelligence.com/wp-content/uploads/2024/11/Email-Phishing-Ransomware-Malware-Hacker-Attack-630x330.jpeg" ], "articleBody": "Any good news is welcomed when evaluating cyber crime trends year-over-year. <span style="box-sizing: border-box; margin: 0px; padding: 0px;">Over the last two years, <a href="https://www.ibm.com/reports/threat-intelligence" target="_blank" rel="noopener">IBM’s Threat Index Reports</a> </span>have provided some minor reprieve in this area by showing a gradual decline in the prevalence of ransomware attacks — now accounting for only 17% of all cybersecurity incidents compared to 21% in 2021. Unfortunately, it’s too early to know if this trendline will continue. A <a href="https://slcyber.io/whitepapers-reports/ransomware-in-h1-2024-trends-from-the-dark-web/">recent report</a> released by Searchlight Cyber shows that there has been a 56% increase in active <a href="https://www.ibm.com/topics/ransomware" target="_blank" rel="noopener">ransomware</a> groups in the first half of 2024, providing convincing evidence that the fight against ransomware is far from over. <h2>Summarizing Searchlight Cyber’s recent dark web intelligence report</h2> <a href="https://searchlight.ishatching.com/">Searchlight Cyber</a> is a dark web intelligence company that provides monitoring tools and platforms used by law enforcement agencies, business enterprises and MSSPs to help identify, track and prevent ongoing cyber threats. The company recently released a mid-year report titled “<a href="https://slcyber.io/whitepapers-reports/ransomware-in-h1-2024-trends-from-the-dark-web/">Ransomware in H1 2024: Trends from the Dark Web</a>” that shined some more light on the current state of ransomware, specifically focusing on the activity of the most prolific ransomware groups. In this report, statistics gathered by Searchlight Cyber show that 73 active ransomware groups are currently being tracked mid-2024 on the dark web compared to 46 groups last year — representing a 56% increase. Some other key takeaways of the report included: <ul> <li>Identifying the top five most active ransomware groups tracked on the dark web, ranked by number of claimed ransomware victims: <ul> <li>LockBit (434 victims)</li> <li>Play, also known as Playcrypt (178 victims)</li> <li>RansomHub (171 victims)</li> <li>Black Basta (130 victims)</li> <li>8Base (124 victims)</li> </ul> </li> <li>New larger ransomware groups that have emerged and are beginning to scale their operations, including: <ul> <li>DarkVault: discovered in February 2024</li> <li>ATP73: discovered in April 2024</li> <li>Quilong: discovered in April 2024</li> </ul> </li> </ul> <ul> <li>All ransomware groups with the highest victim counts operate using <a href="https://www.ibm.com/topics/ransomware-as-a-service" target="_blank" rel="noopener">Ransomware-as-a-Service (RaaS)</a> models. In these models, ransomware groups will lease out their ransomware toolkits to “affiliates,” who then pay a percentage split of profits after completing a successful attack.</li> </ul> [button link="https://www.ibm.com/reports/threat-intelligence" color="orange1" size="large"]Read the IBM X-Force Threat Intelligence Index[/button] <h2>Data pulled from dark web leak sites</h2> Luke Donovan, Searchlight Cyber’s Head of <a href="https://www.ibm.com/topics/threat-intelligence" target="_blank" rel="noopener">Threat Intelligence</a>, was recently interviewed to gather an additional perspective on the findings of this report. Commenting on Searchlight Cyber’s metrics reporting, Donovan clarifies: “Our ransomware victim numbers are largely determined by the organizations that ransomware groups list on their dark web leak sites… There are some limitations with these figures, as ransomware groups may have attacked many other organizations but decided not to list the victim publicly. "On the flip side, there is always the possibility that ransomware groups are listing organizations that they haven’t actually attacked to boost their reputation. However, these figures broadly give a good indication of the most active ransomware groups operating on the dark web.” <h2>What is driving the increased use of RaaS models?</h2> <a href="https://www.ibm.com/topics/ransomware-as-a-service#:~:text=Ransomware%2Das%2Da%2Dservice%20arrangements%20are%20popular%20with%20cybercriminals,Force%C2%AE%20Threat%20Intelligence%20Index.">RaaS models</a> have been in use for several years now. However, as more ransomware groups come to the surface and RaaS solutions become more readily available, the dangers associated are only expected to grow. When asked about why the RaaS model has become so successful in recent years, Donovan commented, “The success of the RaaS model really lies in its ability to scale. If the operator of the ransomware is also the same individual undertaking the attacks, there is a natural limit in how many victims they can claim at any given time. Outsourcing the attack itself to a number of 'affiliates' — of which, some of the biggest gangs have dozens — allows ransomware gangs to vastly increase the quantity of organizations they can hold to ransom.” <h2>How is legal accountability balanced between RaaS operators and their affiliates?</h2> At first glance, it may seem that some RaaS operators are looking for a certain level of insulation from legal ramifications by passing accountability over to affiliates who are responsible for carrying out the attacks. However, many countries have laws in place that hold both RaaS operators and their affiliates equally responsible for the organization and execution of <a href="https://www.ibm.com/topics/cyber-attack" target="_blank" rel="noopener">cyberattacks</a>. “The popularity of the RaaS model is more about profitability than shifting legal accountability. If anything, running a RaaS operation increases the risk for the ransomware creators, as these gangs typically have more victims, which makes them a bigger target for law enforcement,” states Donovan. Considering the implications of providing RaaS toolkits to untrained or undisciplined affiliates, the continued use of this model is surprising since it can create unwanted attention for the gangs themselves. This became evident in the National Crime Agency's (NCA) <a href="https://www.nationalcrimeagency.gov.uk/news/nca-leads-international-investigation-targeting-worlds-most-harmful-ransomware-group/">recent disruption to LockBit’s operations</a> in February 2024. Still, the financial gains from expanding criminal activities on a mass scale are risks many ransomware groups have already proven they’re willing to take. <h2>What security implications does the rise of ransomware groups have on businesses?</h2> As recently mentioned, there have already been previous reports that ransomware victim numbers have declined in recent years. So, should the rise of ransomware groups be something businesses should worry about? Yes and no. The recent disruptions in large RaaS gangs like LockBit and BlackCat have definitely contributed to the recent decrease in ransomware attacks. Another potential factor can be attributed to the general lack of skills shortage in cyber-related fields that impact both <a href="https://www.ibm.com/topics/cybersecurity" target="_blank" rel="noopener">cybersecurity</a> and cyber crime groups. However, this doesn’t mean that a resurgence of ransomware attacks isn’t on the horizon. “What we observe right now is a more fragmented ransomware ecosystem… When large RaaS groups are disrupted, we typically see a number of smaller copycat groups emerging,” states Donovan. As Searchlight Cyber’s report highlights, many new ransomware groups are using highly sophisticated attack methods and are increasingly motivated to own a lion's share of the RaaS market. This is a dangerous combination, which means businesses should stay vigilant while continuously evaluating their defensive strategies to minimize their ransomware exposure." } </script>  <script id="post-schema" type="application/ld+json"> { "@context": "https://schema.org", "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://securityintelligence.com/" }, { "@type": "ListItem", "position": 2, "name": "News", "item": "https://securityintelligence.com/news/" } ] } </script> <div id="progressbar"> <amp-animation id="progress-animation" layout="nodisplay"> <script type="application/json"> { "duration": "1s", "iterations": "1", "fill": "both", "direction": "alternate", "animations": [{ "selector": "#progressbar", "keyframes": [{ "transform": "translateX(0)" }] }] } </script> </amp-animation> </div> <amp-position-observer target="post__content" intersection-ratios="0" viewport-margins="25vh 75vh" on="scroll:progress-animation.seekTo(percent=event.percent)" layout="nodisplay"></amp-position-observer> <div class="dark_background" style="background:black;"></div> <div class="container grid" style="background:black;">  <aside class="breadcrumbs "> <h1 class="breadcrumbs__page_title">Research finds 56% increase in active ransomware groups</h1> </aside> </div> <div class="container grid hero_background "> <div class="grid__content post "> <div class="post__thumbnail"> <amp-img alt="A digital screen with graphics & the word ransomware in red across the middle" width="1200" height="630" layout="responsive" src="/wp-content/webp-express/webp-images/doc-root/wp-content/uploads/2024/11/Email-Phishing-Ransomware-Malware-Hacker-Attack-630x330.jpeg.webp" srcset="/wp-content/webp-express/webp-images/doc-root/wp-content/uploads/2024/11/Email-Phishing-Ransomware-Malware-Hacker-Attack-300x158.jpeg.webp 300w, 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JSON.parse(localStorage.getItem("truste.eu.cookie.notice_preferences")); if (cookies && cookies.value === '2:') { document.querySelector('.social-container').style.visibility = 'visible'; } </script> </div> <main class="post__content post__content--continue_reading" id="post__content"> <!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN" "http://www.w3.org/TR/REC-html40/loose.dtd"> <html><body><p>Any good news is welcomed when evaluating cyber crime trends year-over-year. <span style="box-sizing: border-box; margin: 0px; padding: 0px;">Over the last two years, <a href="https://www.ibm.com/reports/threat-intelligence" target="_blank" rel="noopener nofollow" >IBM’s Threat Index Reports</a> </span>have provided some minor reprieve in this area by showing a gradual decline in the prevalence of ransomware attacks — now accounting for only 17% of all cybersecurity incidents compared to 21% in 2021.</p> <p>Unfortunately, it’s too early to know if this trendline will continue. A <a href="https://slcyber.io/whitepapers-reports/ransomware-in-h1-2024-trends-from-the-dark-web/" target="_blank" rel="noopener nofollow" >recent report</a> released by Searchlight Cyber shows that there has been a 56% increase in active <a href="https://www.ibm.com/topics/ransomware" target="_blank" rel="noopener nofollow" >ransomware</a> groups in the first half of 2024, providing convincing evidence that the fight against ransomware is far from over.</p> <h2>Summarizing Searchlight Cyber’s recent dark web intelligence report</h2> <p><a href="https://searchlight.ishatching.com/" target="_blank" rel="noopener nofollow" >Searchlight Cyber</a> is a dark web intelligence company that provides monitoring tools and platforms used by law enforcement agencies, business enterprises and MSSPs to help identify, track and prevent ongoing cyber threats.</p> <p>The company recently released a mid-year report titled “<a href="https://slcyber.io/whitepapers-reports/ransomware-in-h1-2024-trends-from-the-dark-web/" target="_blank" rel="noopener nofollow" >Ransomware in H1 2024: Trends from the Dark Web</a>” that shined some more light on the current state of ransomware, specifically focusing on the activity of the most prolific ransomware groups.</p> <p>In this report, statistics gathered by Searchlight Cyber show that 73 active ransomware groups are currently being tracked mid-2024 on the dark web compared to 46 groups last year — representing a 56% increase.</p> <p>Some other key takeaways of the report included:</p> <ul> <li>Identifying the top five most active ransomware groups tracked on the dark web, ranked by number of claimed ransomware victims: <ul> <li>LockBit (434 victims)</li> <li>Play, also known as Playcrypt (178 victims)</li> <li>RansomHub (171 victims)</li> <li>Black Basta (130 victims)</li> <li>8Base (124 victims)</li> </ul> </li> <li>New larger ransomware groups that have emerged and are beginning to scale their operations, including: <ul> <li>DarkVault: discovered in February 2024</li> <li>ATP73: discovered in April 2024</li> <li>Quilong: discovered in April 2024</li> </ul> </li> </ul> <ul> <li>All ransomware groups with the highest victim counts operate using <a href="https://www.ibm.com/topics/ransomware-as-a-service" target="_blank" rel="noopener nofollow" >Ransomware-as-a-Service (RaaS)</a> models. In these models, ransomware groups will lease out their ransomware toolkits to “affiliates,” who then pay a percentage split of profits after completing a successful attack.</li> </ul> <a class="btn orange1 large" href="https://www.ibm.com/reports/threat-intelligence" >Read the IBM X-Force Threat Intelligence Index</a> <h2>Data pulled from dark web leak sites</h2> <p>Luke Donovan, Searchlight Cyber’s Head of <a href="https://www.ibm.com/topics/threat-intelligence" target="_blank" rel="noopener nofollow" >Threat Intelligence</a>, was recently interviewed to gather an additional perspective on the findings of this report. Commenting on Searchlight Cyber’s metrics reporting, Donovan clarifies:</p> <p>“Our ransomware victim numbers are largely determined by the organizations that ransomware groups list on their dark web leak sites… There are some limitations with these figures, as ransomware groups may have attacked many other organizations but decided not to list the victim publicly.</p> <p>“On the flip side, there is always the possibility that ransomware groups are listing organizations that they haven’t actually attacked to boost their reputation. However, these figures broadly give a good indication of the most active ransomware groups operating on the dark web.”</p> <h2>What is driving the increased use of RaaS models?</h2> <p><a href="https://www.ibm.com/topics/ransomware-as-a-service#:~:text=Ransomware%2Das%2Da%2Dservice%20arrangements%20are%20popular%20with%20cybercriminals,Force%C2%AE%20Threat%20Intelligence%20Index." >RaaS models</a> have been in use for several years now. However, as more ransomware groups come to the surface and RaaS solutions become more readily available, the dangers associated are only expected to grow.</p> <p>When asked about why the RaaS model has become so successful in recent years, Donovan commented, “The success of the RaaS model really lies in its ability to scale. If the operator of the ransomware is also the same individual undertaking the attacks, there is a natural limit in how many victims they can claim at any given time. Outsourcing the attack itself to a number of ‘affiliates’ — of which, some of the biggest gangs have dozens — allows ransomware gangs to vastly increase the quantity of organizations they can hold to ransom.”</p> <h2>How is legal accountability balanced between RaaS operators and their affiliates?</h2> <p>At first glance, it may seem that some RaaS operators are looking for a certain level of insulation from legal ramifications by passing accountability over to affiliates who are responsible for carrying out the attacks. However, many countries have laws in place that hold both RaaS operators and their affiliates equally responsible for the organization and execution of <a href="https://www.ibm.com/topics/cyber-attack" target="_blank" rel="noopener nofollow" >cyberattacks</a>.</p> <p>“The popularity of the RaaS model is more about profitability than shifting legal accountability. If anything, running a RaaS operation increases the risk for the ransomware creators, as these gangs typically have more victims, which makes them a bigger target for law enforcement,” states Donovan.</p> <p>Considering the implications of providing RaaS toolkits to untrained or undisciplined affiliates, the continued use of this model is surprising since it can create unwanted attention for the gangs themselves. This became evident in the National Crime Agency’s (NCA) <a href="https://www.nationalcrimeagency.gov.uk/news/nca-leads-international-investigation-targeting-worlds-most-harmful-ransomware-group/" target="_blank" rel="noopener nofollow" >recent disruption to LockBit’s operations</a> in February 2024.</p> <p>Still, the financial gains from expanding criminal activities on a mass scale are risks many ransomware groups have already proven they’re willing to take.</p> <h2>What security implications does the rise of ransomware groups have on businesses?</h2> <p>As recently mentioned, there have already been previous reports that ransomware victim numbers have declined in recent years. So, should the rise of ransomware groups be something businesses should worry about? Yes and no.</p> <p>The recent disruptions in large RaaS gangs like LockBit and BlackCat have definitely contributed to the recent decrease in ransomware attacks. Another potential factor can be attributed to the general lack of skills shortage in cyber-related fields that impact both <a href="https://www.ibm.com/topics/cybersecurity" target="_blank" rel="noopener nofollow" >cybersecurity</a> and cyber crime groups. However, this doesn’t mean that a resurgence of ransomware attacks isn’t on the horizon.</p> <p>“What we observe right now is a more fragmented ransomware ecosystem… When large RaaS groups are disrupted, we typically see a number of smaller copycat groups emerging,” states Donovan.</p> <p>As Searchlight Cyber’s report highlights, many new ransomware groups are using highly sophisticated attack methods and are increasingly motivated to own a lion’s share of the RaaS market. This is a dangerous combination, which means businesses should stay vigilant while continuously evaluating their defensive strategies to minimize their ransomware exposure.</p> </body></html> <div id="nc_pixel"></div><div class="post__tags"> <a href="https://securityintelligence.com/tag/ransomware-attacks/" rel="tag">ransomware attacks</a><span> | </span><a href="https://securityintelligence.com/tag/ransomware-gang/" rel="tag">ransomware gang</a><span> | </span><a href="https://securityintelligence.com/tag/ransomware-as-a-service/" rel="tag">ransomware as a service</a><span> | </span><a href="https://securityintelligence.com/tag/dark-web/" rel="tag">Dark Web</a><span> | </span><a href="https://securityintelligence.com/tag/ransomware/" rel="tag">Ransomware</a><span> | </span><a href="https://securityintelligence.com/tag/ransomware-as-a-service-raas/" rel="tag">Ransomware-as-a-Service (RaaS)</a><span> | </span><a href="https://securityintelligence.com/tag/risk-management/" rel="tag">Risk Management</a></div> <div class="post__author author "> <div class="author__box"> <div class="author__photo" style="background-image: url(https://securityintelligence.com/wp-content/uploads/2020/11/Josh-Nadeau-Headshot.jpeg);"></div> <div class="author__infos"> <div class="author__name"><a href="https://securityintelligence.com/author/josh-nadeau/" >Josh Nadeau</a></div> <div class="author__role">Cybersecurity Writer</div> </div> </div> </div>  <style type="text/css"> .post__content--continue_reading{ max-height: 725px; overflow:hidden; transition: max-height cubic-bezier(0.9, 0, 1, 1) 2s; } @media (max-width: 768px) { .post__content--continue_reading{ max-height: 1225px; } } </style> <div class="continue_reading_wrapper" id="continue_reading"> <button on="tap: post__content.toggleClass(class=post__content--continue_reading), continue_reading.toggleClass(class=continue_reading_wrapper--clicked)" tabindex="0" role="button">Continue Reading</button> </div> </main> </div> </div> <aside class="grid__sidebar post__sidebar "> <div class="mobile_divider"></div> <header class="post__sidebar__header">POPULAR</header>  <article class="article article_grid article__mobile--card">  <a class="exclusive_article__category_link" href="https://securityintelligence.com/articles/hacking-the-mind-why-psychology-matters-to-cybersecurity/" aria-label="Hacking the mind: Why psychology matters to cybersecurity"> <div class="article__img"> <amp-img alt="Hands typing on a laptop next to a window of bright sunny day & a yellow outline of a digital brain image in the foreground" width="1200" height="630" layout="responsive" src="/wp-content/webp-express/webp-images/doc-root/wp-content/uploads/2025/02/Double-exposure-of-creative-human-brain-microcircuit-with-hand-typing-on-computer-keyboard-on-background.-Future-technology-and-AI-concept-630x330.jpeg.webp"> <amp-img fallback alt="Hands typing on a laptop next to a window of bright sunny day & a yellow outline of a digital brain image in the foreground" width="1200" height="630" layout="responsive" src="https://securityintelligence.com/wp-content/uploads/2025/02/Double-exposure-of-creative-human-brain-microcircuit-with-hand-typing-on-computer-keyboard-on-background.-Future-technology-and-AI-concept-630x330.jpeg"> </amp-img> </amp-img> </div> </a>  <div class="article__text_container" style="-webkit-box-orient: vertical;">  <a class="article__category_link" href="https://securityintelligence.com/category/topics/security-intelligence-analytics/" aria-label="https://securityintelligence.com/category/topics/security-intelligence-analytics/"> Intelligence & Analytics </a>  <span class="article__date"> February 6, 2025 </span>  <a href="https://securityintelligence.com/articles/hacking-the-mind-why-psychology-matters-to-cybersecurity/" class="article__content_link" aria-label="Hacking the mind: Why psychology matters to cybersecurity"> <h2 class="article__title">Hacking the mind: Why psychology matters to cybersecurity</h2> <p class="article__excerpt" style="-webkit-box-orient: vertical;"> <span class="article__read_time"><span class="span-reading-time rt-reading-time"><span class="rt-label rt-prefix"></span> <span class="rt-time"> 4</span> <span class="rt-label rt-postfix">min read</span></span> - </span>In cybersecurity, too often, the emphasis is placed on advanced technology meant to shield digital infrastructure from external threats. 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Research finds 56% increase in active ransomware groups