CDW, a technology services giant, was recently the target of a major attack orchestrated by the LockBit ransomware group. The attack not only disrupted the company’s operations, but also featured a historic ransom demand. LockBit demanded a colossal payment of $80 million for the decryption of CDW’s data, placing this demand among the highest ever recorded in the history of cyberattacks. This phenomenal sum underlines the growing audacity of cybercriminals and the need for companies to strengthen their cybersecurity measures.
The rise of the Lockbit ransomware group
Since its appearance in 2019, LockBit has rapidly gained notoriety, becoming one of the most active ransomwares on the market. According to Flashpoint, LockBit is responsible for 27.9% of all known ransomware attacks between July 2022 and June 2023. LockBit ransomware has evolved rapidly, incorporating advanced techniques to evade detection and increase its success rate. Ransomware attacks, such as the one orchestrated by LockBit, have become a major concern for businesses worldwide. These attacks can cripple operations, lead to massive financial losses and damage corporate reputations, which is why it’s imperative to react quickly and call in professionals who are experts in recovering your encrypted data.
LockBit ransomware claims CDW’s third-highest ransom demand ever
CDW Corporation, a giant in technology services for business, government and education, has been the target of a major LockBit attack. The attackers exploited vulnerabilities in CDW’s system, encrypting huge amounts of data and crippling operations. LockBit demanded a ransom of $80 million from CDW, making it the third largest ransom ever demanded in the history of ransomware attacks. The cybercriminals threatened to disclose the stolen data if a ransom was not paid. This significant ransom demand underlines the seriousness of the attack and the potential implications for CDW.
According to The Register, following unsuccessful negotiations over the ransom amount, LockBit has promised to release CDW’s data. A LockBit spokesman, using the alias “LockBitSupp”, said CDW’s data would be released after CDW proposed a ransom amount deemed insulting to cybercriminals. It was mentioned that CDW, a company worth $20 billion, proposed a payment deemed insufficient, and that LockBit “refused the ridiculous amount proposed”.
On October 12 Lockbit published 2 posts with CDWG data on its leak site. The leaked data looks pretty bad from both a security and business movement. Data in the archive suggests that it is associated with employee badges, audits, commission payment data and other account information. Also according to The Register the LockBit spokesman said, “We released them because, in the negotiation process, a $20 billion company refuses to pay enough money.”
What are the implications for the world of cybersecurity?
LockBit’s ransomware attack on CDW is not only a reminder of the growing threats facing businesses, but also a demonstration of the determination of cybercriminals. This attack is indeed a testament to the constant evolution of cybersecurity threats. As companies strengthen their defenses, cybercriminals continue to innovate, making prevention and preparation more crucial than ever. It’s more important than ever to keep your data secure, and to be able to rely on specialist companies like SOS Ransomware to support you in the event of a ransomware attack.
