How do these cyberattacks keep occurring? It’s an honest question that any business has a right to ask. We hear of new advanced security tools being released regularly from some of the world’s top security vendors, and yet cyberattacks continue to capture headlines.  

Reasons for Perpetual Cyberattacks 

The persistent threat landscape of today stems from a complex interplay of factors such as the rapid evolution of attack techniques, human error, inadequate implementation of security measures, and the increasing complexity of modern IT environments. There is also another critical factor to consider however: the expertise and relentless drive of cybercriminals to innovate that is fueled by the lucrative nature of their illicit activities. 

The types of attacks lodged against today’s premier organizations are rarely conducted by a lone hacker out of a basement. Instead, these attacks are initiated by highly organized criminal organizations. Like the victim organizations they target, these criminal organizations set quarterly revenue goals that managers are responsible because profits are king.  

The Acronym of Malicious Intent 

The human tendency is to find a way to maximize financial fortune while putting in minimal time and effort. A perfect illustration of this is RaaS, otherwise known as Ransomware as a Service. Ransomware as a Service (RaaS) is a business model in the cybercrime world where ransomware developers sell or rent their malicious software to other criminals, known as affiliates.  

In many ways, it is like licensing a franchise as the RaaS model has significantly lowered the barrier to entry for cybercriminals. Now, even those with limited technical skills can launch ransomware attacks against targets. RaaS operates similarly to legitimate software-as-a-service models, with ransomware operators providing not just the malware, but often also infrastructure support, payment processing, and even customer service to their affiliates. The result is a fully functional and independent ecosystem that thrives in the underground cybercrime market. 

The Current RaaS Leader 

Few cybercriminal organizations implement this new malware model better than RansomHub. As a relatively new player in the market, they first appeared on the scene in February of 2024. While their tenure has been brief, their path of destruction has been immense, boasting 210 victims from a wide selection of industry sectors. The number of notches in their attack belts indicate a growth trajectory as over half of their attacks occurred in July and August of 2024.  Many of these victims are list of who’s who organizations that include the Rite Aid drugstore chain, Christie’s auction house and oil service giant Halliburton.  

The group employs a double extortion strategy, both encrypting and exfiltrating data from their targets. If victims refuse to pay for the decryption key, RansomHub threatens to release or sell the stolen information. Their attack arsenal includes phishing campaigns, exploitation of known vulnerabilities (such as Zerologon), and password spraying techniques. They use advanced evasion techniques to hide their movements and purposely prohibit themselves from attacking certain countries such as China, Cuba, and the usual assortment which may indicate some sort of geopolitical alignment.   

Why Minimizing MTTD is Key 

With criminal organizations such as RansomHub able to operate so efficiently and effectively, it makes early detection absolutely critical. Ransomware is like a fire that can take out a building. The sooner you detect the signs of smoke or flames, the sooner you can contain the blaze and put it out. Ransomware is no different. While the attack methods may vary, there is an absolute order to how these attacks are carried out. First the infiltration, then internal reconnaissance, then data exfiltration and finally the encrypting process itself.  

That is why reducing the mean time to detect (MTTD) is so critical to effectively combat cyber threats. An effective strategy to achieve this is through the implementation of a Managed Detection and Response (MDR) system. MDR provides continuous, 24/7 monitoring of an organization’s digital assets, including network traffic, endpoints, and critical data stores, to detect signs of malicious activities. This round-the-clock surveillance is essential because cybercriminals, like traditional criminals, often operate during off-hours when they’re less likely to be noticed. By leveraging advanced technologies and expert analysis, MDR significantly enhances an organization’s ability to quickly identify and respond to potential threats, thereby minimizing the window of opportunity for attackers and reducing the potential impact of a breach. 

MDR is the New Model 

If these highly effective cybercriminal organizations have a model working for them, then you need one as well to combat them. An MDR offers a streamlined, efficient, and scalable alternative for those who want top-notch security without the prohibitive overheads of an in-house SOC. MDR solutions leverage advanced technologies like machine learning and behavioral analytics to identify anomalous activities indicative of ransomware attacks. They use threat intelligence feeds and leverage advanced security measures to quickly detect indicators of compromise. 

Many MDR providers employ skilled cybersecurity professionals who specialize in threat hunting and incident response. These experts can quickly triage alerts and determine the appropriate response to potential threats. Whether your organization falls victim to an opportunistic amateur threat actor or becomes the precise target of a highly sophisticated attack, a modern MDR solution has the threat hunting capabilities to identify it early, contain it, and eliminate it before any disruptive consequences can play out.  

Conclusion 

Besides the number of attacks that RansomHub has amassed to their credit in such a short time, the most discerning fact may be the that their surging success is hardly a shock to anyone. They are a clear example of how cybercriminal organizations can innovate so quickly to take advantage of windows of opportunity and seek out new ways of bringing cashflow into their criminal organizations. These threat actors operate within the aid of sophisticated networks, highlighting the need for a collective defense approach. Recognizing this, organizations are increasingly turning to MDR solutions. By leveraging MDR’s comprehensive monitoring and advanced threat detection capabilities, you can partner with a highly effective security model significantly enhance your organization’s cyber defense posture against RansomHub, and whomever the next criminal organization in line happens to be.