International Authorities Disrupt Lockbit Cybercrime Ring

A joint operation spearheaded by UK, US, and EU agencies, has cracked down on Lockbit, a notorious cybercrime gang that holds its victims’ data for ransom.

The international crackdown, led by Britain’s National Crime Agency (NCA), the U.S. Federal Bureau of Investigation (FBI), and Europol, marks a rare victory against ransomware threats.

In a coordinated effort dubbed ‘Operation Cronos,’ law enforcement agencies seized control of Lockbit’s extortion website, announced the NCA and FBI.

“This site is now under the control of the National Crime Agency of the UK, working in close cooperation with the FBI and the international law enforcement task force, ‘Operation Cronos’,” the post said.

While Lockbit remained silent, messages on encrypted platforms hinted at backup servers unaffected by the crackdown.

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Officials in the United States, where Lockbit has hit more than 1,700 organisations in nearly every industry, from financial services and food to schools, transportation, and government departments, have described the group as the world’s top ransomware threat.

Lockbit, which has been operating since 2020, gained notoriety for targeting major organizations globally. Its modus operandi involves stealing sensitive data and demanding hefty ransoms, making it a significant player in the cyber underworld.

Ransomware is malicious software that encrypts data. Lockbit makes money by coercing its targets into paying a ransom to decrypt or unlock that data with a digital key.

Despite being initially linked to Russia, the group claimed to be apolitical and profit-driven. On its now-defunct darkweb site, the group said it was “located in the Netherlands, completely apolitical, and only interested in money.”

“They are the Walmart of ransomware groups, they run it like a business – that’s what makes them different,” said Jon DiMaggio, chief security strategist at Analyst1, a U.S.-based cybersecurity firm. “They are arguably the biggest ransomware crew today.”

The takedown follows Lockbit’s high-profile attacks on Boeing and Britain’s Royal Mail, causing widespread disruption. The group’s dominance in the ransomware market, with a 25% share, underscores the significance of this operation in combating cybercrime.