Babuk Locker a New Ransomware

Babuk Locker a New Ransomware

The enthusiasm of 2021 has been rather short-lived, especially for cybersecurity companies. A newly emerging ransomware is causing companies thousands of dollars already. Moreover, despite the software being out for a few days, it managed to get a serious victim list. It has been announced that the name of the new ransomware is Babuk Locker. The software, which has affected companies from many countries so far, is not much different from the examples we have seen before. Ransom fees are specified to be in tens of thousands of dollars.

“Since this was the first discovery of malware, it’s no surprise Babuk Locker was not at all secret” security researcher Chuong Dong, who studied the new software, said in a statement. Explaining the new software, the researcher said, “In general, it’s fairly standard ransomware that uses new technologies like multithreaded encryption and uses the Windows Reboot Manager, similar to what we’ve seen with Conti and REvil.”

The Babuk Locker Ransoms Start From 60 Thousand Dollars

Babuk Locker a New Ransomware

Although Babuk Locker seems to be coded poorly, it has a very strong encryption scheme. This puts the victims in a difficult time to regain access to their files. The ransom costs vary between 60 thousand dollars and 85 thousand dollars. This type of ransomware encrypts the files on the computer, making them inaccessible. Usually, kidnappers leave a computer with information on how to reach them to pay the ransom. Occasionally, attackers share sensitive information to show victims that they are serious.

Babuk Locker also claims that it will share information obtained from companies that are not willing to pay on hacker forums. The software’s victims so far include an elevator company, a medical testing equipment manufacturer, and an air conditioning company. There have been many large-scale ransomware attacks in the past year; and even major companies such as Foxxcon and Kmart have been targeted. Don’t forget to check our other news here.

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