Ransomware is hardly a brand-new threat on the internet. Its roots go back many years. This menace has only grown more dangerous and ruthless over time.
The word “ransomware” has gained widespread recognition as a result of the bombardment of cyberattacks that have rendered many businesses unusable in recent years.
All of the files on your PC have been downloaded and encrypted, and then your screen goes black and a message in stumbling English appears.
You must pay a ransom to black hat cybercriminals in Bitcoin or other untraceable cryptocurrencies in order to obtain a decryption key or prevent your sensitive data from being released on the dark web.
But fewer may be aware of ransomware-as-a-Service, a well-organized underworld business model that can carry out these types of attacks (or RaaS).
Instead of conducting attacks themselves, ransomware creators rent out their expensive viruses to less experienced cyber criminals who are ready to incur the risk associated with conducting ransomware operations.
How does it all operate though? Who leads the hierarchy and who functions as the middlemen? And maybe more crucially, how can you defend your business and yourself against these crippling assaults?
Continue reading to learn more about RaaS.
What is Ransomware as a Service (RaaS)?
Ransomware-as-a-service (RaaS) is a criminal enterprise business model that allows anybody to join up and utilize tools for launching ransomware attacks.
RaaS users, like those who use other as-a-service models such as software-as-a-service (SaaS) or platform-as-a-service (PaaS), rent rather than own ransomware services.
It is a low-code, software-as-a-service attack vector that enables criminals to buy ransomware software on the dark web and carry out ransomware attacks without knowing how to code.
Email phishing schemes are a common attack vector for RaaS vulnerabilities.
When a victim clicks on a malicious link in the attacker’s email, the ransomware downloads and spreads across the affected machine, disabling firewalls and antivirus software.
The RaaS software can hunt for ways to elevate privileges once the victim’s perimeter defenses have been breached, and eventually hold the entire organization hostage by encrypting files to the point where they are unreachable.
Once the victim has been informed of the attack, the program will provide them instructions on how to pay the ransom and (ideally) get the right cryptographic key for decryption.
Although RaaS and ransomware vulnerabilities are unlawful, criminals who carry out this kind of assault can be particularly challenging to apprehend because they utilize Tor browsers (also known as onion routers) to access their victims and demand bitcoin ransom payments.
The FBI claims that more and more malware creators are disseminating their harmful LCNC (low code/no code) programs in exchange for a cut of the extortion proceeds.
How does the RaaS model work?
Developers and Affiliates collaborate to carry out an effective RaaS attack. Developers are in charge of writing specialized ransomware malware, which is afterward sold to an affiliate.
The ransomware code and instructions for launching the assault are provided by the developers. RaaS is simple to use and requires little technological knowledge.
Anyone who has access to the dark web may enter the portal, join as an affiliate, and launch assaults with a single click. Affiliates choose the virus kind they want to distribute and make a payment using a cryptocurrency, usually Bitcoin, to get started.
The developer and the affiliate divide the earnings when the ransom money is paid and the attack is successful. The type of revenue model determines how the funds are allocated.
Let’s examine a few of these illegal business strategies.
Affiliate RaaS
Due to a variety of factors, including the ransomware group’s brand awareness, the success rates of the campaigns, and the caliber and variety of the services offered, underground affiliate programs have become one of the most well-known forms of RaaS.
Criminal organizations frequently look for hackers who can get into business networks on their own in order to maintain their ransomware code within the gang. They then utilize the virus and assistance to launch the assault.
However, a hacker might not even need this given the recent rise of corporate network access-for-sale on the dark web to satisfy these criteria.
Well-supported, less experienced hackers launch high-risk assaults in exchange for a profit share rather than paying a monthly or annual charge to use the ransomware code (but occasionally affiliates may have to pay to play).
The majority of the time, ransomware gangs seek hackers skilled enough to break into a company network and brave enough to carry out the strike.
In this system, the affiliate often receives between 60% and 70% of the ransom, with the remaining 30% to 40% being sent to the RaaS operator.
Subscription-based RaaS
In this tactic, scammers pay a membership fee on a regular basis to have access to ransomware, technical support, and virus updates. Many web-based subscription service models, like Netflix, Spotify, or Microsoft Office 365, are comparable to this.
Normally, ransomware offenders keep 100% of the revenue from ransom payments for themselves if they pay for the service upfront, which might cost $50 to hundreds of dollars each month, depending on the RaaS supplier.
These membership fees represent a modest investment as compared to the usual ransom payment of about $220,000. Of course, affiliate programs can also incorporate a pay-to-play, subscription-based element into their plans.
Lifetime permit
A malware producer can decide to offer packages for a one-time payment and avoid taking the chance of being directly involved in cyberattacks instead of earning recurring money via subscriptions and profit-sharing.
Cybercriminals in this case pay a one-time charge to get lifelong access to a ransomware kit, which they can use any way they see appropriate.
Some lower-level cybercriminals could choose a one-off purchase even if it is significantly more expensive (tens of thousands of dollars for sophisticated kits) since it would be more difficult for them to connect to the RaaS operator should the operator be apprehended.
RaaS partnerships
Cyberattacks using ransomware need that each hacker involved have a unique set of abilities.
In this scenario, a group would get together and provide various contributions to the operation. A ransomware code developer, corporate network hackers, and an English-speaking ransom negotiator are required to get started.
Depending on their role and significance in the campaign, each participant, or partner, would agree to divide the earnings.
How to detect a RaaS attack?
Typically, there is no ransomware assault protection that is 100% effective. However, phishing emails remain the primary method used to carry out ransomware assaults.
Therefore, a company has to provide phishing awareness training to ensure that staff members have the best possible understanding of how to spot phishing emails.
On a technical level, businesses might have a specialized cybersecurity team tasked with doing threat hunting. Threat hunting is a very successful method for detecting and preventing ransomware assaults.
A theory is created in this process using the information on assault vectors. The hunch and data aid in the creation of a program that might quickly identify the cause of the assault and stop it.
To keep an eye out for unexpected file executions, suspicious behavior, etc. on the network, threat hunting tools are used. To identify attempted ransomware attacks, they make use of the watch for Indicators of Compromise (IOCs).
Additionally, many situational threat hunting models are used, each of which is tailored to the target organization’s industry.
Examples of RaaS
Authors of ransomware have just come to realize how profitable it is to build a RaaS business. Additionally, there have been several threat actor organizations establishing RaaS operations to propagate ransomware throughout almost every business. These are a few of the RaaS organizations:
- DarkSide: It is one of the most infamous RaaS providers. According to reports, this gang was behind the attack on the Colonial Pipeline in May 2021. DarkSide is believed to have started in August of 2020 and peaked in activity during the first few months of 2021.
- Dharma: Dharma Ransomware originally surfaced in 2016 under the name CrySis. Although there have been several Dharma Ransomware variations throughout the years, Dharma first appeared in a RaaS format in 2020.
- Maze: As with many other RaaS providers, Maze debuted in 2019. In addition to encrypting user data, the RaaS organization threatened to release data publicly in an effort to humiliate victims. The Maze RaaS formally shut down in November 2020, albeit the reasons for this are still somewhat hazy. Some academics, however, believe that the same offenders have persisted under various names, like Egregor.
- DoppelPaymer: It has been connected to a number of events, including one in 2020 against a hospital in Germany that claimed the life of a patient.
- Ryuk: Although the RaaS was more active in 2019, it is believed to have existed at least in 2017. Many security companies, including CrowdStrike and FireEye, have denied claims made by certain researchers that the outfit is located in North Korea.
- LockBit: As the file extension, the organization employs to encrypt victim files, “.abcd virus,” first surfaced in September 2019. The capacity of LockBit to autonomously spread over a target network is one of its features. For would-be attackers, this makes it a desirable RaaS.
- REvil: Although there are several RaaS providers, it was the most common in 2021. The Kaseya assault, which occurred in July 2021 and had an impact on at least 1,500 companies, was linked to the REvil RaaS. The organization is also thought to have been behind the June 2021 attack on the meat manufacturer JBS USA, for which the victim had to pay an $11 million ransom. It was also found to be responsible for a ransomware assault on the cyber insurance provider CNA Financial in March 2021.
How to prevent RaaS attacks?
RaaS hackers most frequently use sophisticated spear-phishing emails that are expertly created to seem authentic to distribute malware. A solid risk management approach that supports ongoing security awareness training for end-users is necessary to protect against RaaS exploits.
The first and the best protection is to create a business culture that informs end-users about the most recent phishing techniques and the hazards that ransomware attacks represent to their finances and reputations. Initiatives in this regard include:
- Software upgrades: Operating systems and apps are frequently exploited by ransomware. To help stop ransomware attacks, it’s important to update the software when patches and updates are released.
- Make careful to backup and restore your data: Establishing a data backup and recovery strategy is the first and, probably, most important step. Data becomes unusable for users after encryption by ransomware. The impact of data encryption by an attacker can be lessened if a company has current backups that can be utilized in a recovery procedure.
- Prevention of phishing: Phishing through emails is a typical method of attack for ransomware. RaaS attacks can be prevented if there is some sort of anti-phishing email protection in place.
- Multiple-factor authentication: Some ransomware attackers utilize credential stuffing, which involves using stolen passwords from one site on another. Because a second factor is still required to get access, multifactor authentication lessens the impact of a single password that is overused.
- Security for XDR endpoints: Endpoint security and threat hunting technologies, like XDR, offer an additional crucial layer of defense against ransomware. This offers enhanced detection and response capabilities that help reduce the danger of ransomware.
- DNS restriction: Ransomware frequently uses some kind of command and control (C2) server to interface with the platform of a RaaS operator. A DNS query is nearly always involved in communications from an infected machine to the C2 server. Organizations can recognize when ransomware is attempting to interact with the RaaS C2 and prevent the communications with the help of a DNS filtering security solution. This can act as a type of infection prevention.
Future of RaaS
RaaS assaults will become more prevalent and well-liked among hackers in the future. Over 60% of all cyberattacks in the last 18 months, according to a recent report, were RaaS-based.
RaaS is becoming more and more popular as a result of how simple it is to use and the fact that no technical knowledge is necessary. Additionally, we should prepare for an increase in RaaS assaults that target vital infrastructure.
This covers the fields of healthcare, administration, transportation, and energy. Hackers view these crucial industries and institutions as more exposed than ever, putting entities like hospitals and power plants in the sights of RaaS attacks as supply chain issues continue until 2022.
Conclusion
In conclusion, even if Ransomware-as-a-Service (RaaS) is a creation and one of the most recent dangers to prey on digital users, it is crucial to take certain preventative measures to combat this threat.
In addition to other fundamental security precautions, you can also rely on cutting-edge antimalware tools to further protect you from this threat. Regrettably, RaaS appears to be here to stay for the time being.
You’ll need a comprehensive technology and cybersecurity plan to protect against RaaS attacks to reduce the likelihood of a successful RaaS assault.
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