Ransomware attacks set to break records in 2023

Ransomware attacks continue at a record-breaking pace, with Q3 2023 global ransomware attack frequency up 11% over Q2 and 95% year-over-year (YoY), according to Corvus Insurance. In its Q2 2023 Global Ransomware Report, Corvus noted a significant resurgence in global ransomware attacks, which has continued through the third quarter. Now, with two months remaining in the year, the number of ransomware victims in 2023 has already surpassed what was observed for 2021 and 2022. If the trajectory continues, 2023 will be the first year with more than 4,000 ransomware victims posted on leak sites (2,670 in 2022).

HackyClub Observation:

Zero-day vulnerability is actively exploited by cyber treat actor groups. For instance, MOVEit vulnerability accounted for 9% of the victims in Q2 and 13% in Q3. CSC tracked the MOVEit Data Theft Extortion Campaign initiated by FIN11, a financially motivated threat group, leaked stolen data if victims did not pay ransom started from April 2023.