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Cybersecurity Experts Warn of Emerging Threat of “Black Basta” Ransomware

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The Black Basta ransomware-as-a-service (RaaS) syndicate has amassed nearly 50 victims in the U.S., Canada, the U.K., Australia, and New Zealand within two months of its emergence in the wild, making it a prominent threat in a short window. Black Basta has been observed targeting a range of industries, including manufacturing, construction, transportation, telcos, pharmaceuticals, cosmetics, plumbing and heating, automobile dealers, undergarments manufacturers, and more.

Similar to other ransomware operations, Black Basta is known to employ the tried-and-tested tactic of double extortion to plunder sensitive information from the targets and threaten to publish the stolen data unless a digital payment is made. A new entrant in the already crowded ransomware landscape, intrusions involving the threat have leveraged QBot as a conduit to maintain persistence on the compromised hosts and harvest credentials, before moving laterally across the network and deploying the file-encrypting malware.

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