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Nefilim Ransomware Targets Victims with $1 Billion Revenue

by CIO AXIS

Trend Micro has released a case study of the Nefilim ransomware group, providing insight into the inner-workings of modern ransomware attacks. The report gives valuable insight into how ransomware groups have evolved, operate under the radar and how advanced threat detection and response platforms can help stop them.

The approach of modern ransomware families makes detection and response significantly more difficult for already stretched SOC and IT security teams. This matters not only to the bottom line and corporate reputation, but also the wellbeing of SOC teams themselves.

“Modern ransomware attacks are highly targeted, adaptable and stealthy – using proven approaches perfected by APT groups in the past. By stealing data and locking key systems, groups like Nefilim look to extort highly profitable global organizations,” said Bob McArdle, director of cybercrime research for Trend Micro. “Our latest report is a must-read for anyone in the industry who wants to understand this fast-growing underground economy inside-out, and how solutions like Trend Micro Vision One can help them hit back.”

Of the 16 ransomware groups studied from March 2020 to January 2021, Conti, Doppelpaymer, Egregor and REvil led the way in terms of number of victims exposed—and Cl0p had the most stolen data hosted online at 5TB.

However, with its ruthless focus on organizations posting more than $1 billion in revenue, Nefilim extorted the highest median revenue.

As the report reveals, a Nefilim attack typically involves the following stages:

• Initial access that exploits weak credentials on exposed RDP services or other externally facing HTTP services.
• Once inside, legitimate admin tools are used for lateral movement to find valuable systems for data theft and encryption.
• A “call home” system is set up with Cobalt Strike and protocols that can pass through firewalls, like HTTP, HTTPS and DNS.
• Bulletproof hosting services are used for C&C servers.
• Data is exfiltrated and published on TOR-protected websites later to extort victim. Nefilim published around 2TB of data last year.
• Ransomware payload is launched manually once enough data has been exfiltrated.

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