Blockchain transactions prove that ransomware attacks are interconnected

Blockchain transactions Blogs | IEMLabs

In recent times, ransomware-as-a-Service (RaaS) has become a huge moneymaking enterprise. Researchers have analyzed that blockchain transactions prove that ransomware attacks are interconnected. Blockchain analysis displays overlapping of affiliates, along with other connections, between these four ransomware four major ransomware operators of 2020 – egregor, SunCrypt, DoppelPaymer, and the now-defunct Maze. 

Egregor came into action right after Maze was shut down with most of Maze’s affiliates moving to Egregor. Moreover, Maze and Egregor share similar ransom notes, similarities in codes and victim payment sites which made some experts to believe that Maze has been rebranded as Egregor. Evidence regarding the connection of a Maze RaaS affiliate with SunCrypt RaaS has been detected. Maze had sent 9.55 Bitcoin to an address labeled Suspected SunCryptadmin. Similar relationships have been found to exist between Egregor and DoppelPaymer. Egregor had sent approx. $850,000 to an alleged DoppelPaymer admin wallet.

All these connections indicate that these major ransomware families have certain overlapping although they may not have a common admin. It is also determined. Maze and Egregor even have the same OTC brokers that convert cryptocurrency into cash. 

Though this interconnected ransomware landscape brings greater fluidity in the RaaS market, experts believe that the interconnected landscape is a good thing when it comes to law enforcement. This interrelated landscape would definitely expedite the process of bringing down ransomware families as the ransomware world is even smaller than we are made to believe.

By Hrithik Lall

IEMLabs is an ISO 27001:2013 and ISO 9001:2015 certified company, we are also a proud member of EC Council, NASSCOM, Data Security Council of India (DSCI), Indian Chamber of Commerce (ICC), U.S. Chamber of Commerce, and Confederation of Indian Industry (CII). The company was established in 2016 with a vision in mind to provide Cyber Security to the digital world and make them Hack Proof. The question is why are we suddenly talking about Cyber Security and all this stuff? With the development of technology, more and more companies are shifting their business to Digital World which is resulting in the increase in Cyber Crimes.

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