LockBit 2.0: How This RaaS Operates and How to Protect Against It

LockBit 2.0 is ransomware as a service (RaaS) that first emerged in June 2021 as an upgrade to its predecessor LockBit (aka ABCD Ransomware), which was first observed in September 2019.

Since its inception, the LockBit 2.0 RaaS attracted affiliates via recruitment campaigns in underground forums, and thus became particularly prolific during the third quarter of calendar year 2021. The LockBit 2.0 operators claimed to have the fastest encryption software of any active ransomware strain as of June 2021, claiming accordingly that this added to its effectiveness and ability to disrupt the ransomware landscape.

While several top-tier RaaS affiliate programs, such as Babuk, DarkSide and REvil (aka Sodinokibi) disappeared from the underground in 2021, LockBit 2.0 continued to operate and gradually became one of the most active ransomware operations.

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Source:Palo Alto/Unit 42