IBM X-Force Finds New Ransomware Group Black Basta

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IBM Security X-Force has been keeping an eye on Black Basta, the latest ransomware gang that first surfaced in April 2022. Until now, Black Basta has claimed to attack over 29 different targets in various industries via double extortion techniques. In double extortion, the threat actors execute ransomware along with stealing data and blackmail to post it publicly unless their ransom demands are not met. 

The data discourse points of these ransomware attacks take place on a data leak website called Tor network. To make the victim pay the ransom, the Black Basta group progressively publishes the stolen data on the leak site. The group is still in the early phase of its organization, X-Force has not found any pieces of evidence of distributing the malware or hiring threat actors on underground platforms or the dark web. 

Due to similarities in operations and no affiliation attempts, experts believe that the Black Basta group is a new version of Conti gan, infamous ransomware groups already having various affiliates. But Conti group recently announced that it has no links with the Black Basta ransomware group. X-Force is currently finding the relationship between these two.