Israeli companies targeted by Pay2Key Ransomware

Pay2Key Blogs | IEMLabs

In recent times several well-known organizations and large corporations of Israel have been breached and had their systems encrypted by a previously unknown ransomware called Pay2Key. The attacks were first carried out towards the end of October. In a report published by the Israeli cyber security firm, Check Point it is stated that most of the attacks have been carried out at midnight when fewer employees are working at the IT companies.

Researchers have said that the attackers have breached the organization’s network some time before the attack but after getting the access the attackers made a rapid move to spread the ransomware in the entire network within an hour. Once the intrusion is completed, the ransomware gang starts encrypting files.

It is believed that the initial entry point for all the Pay2Key ransomware attacks have been weakly secured Remote Desktop Protocol (RDP) services. Once encryption is completed Pay2Key group usually asks for payment of 7-9 bitcoins (~$110K-$140K) by leaving a note on the hacked systems. In order to avoid detection, Pay2Key operators provide proxy to all their communications by setting up a pivot point on the local network.

Though investigation is still going on, these recent Pay2Key ransomware attacks indicate a new threat to major organizations and warn them to minimize exposure in order to avoid data breach.

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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