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November State of Ransomware Report by Blackfog

December 2023 by Dr Darren Williams, CEO and Founder at Blackfog

BlackFog has released the State of Ransomware Report for November. This report contains detailed statistics on the latest ransomware attack tactics, active threat groups, and a breakdown of attacks by countries and industries. Please feel free to use this data in any reporting as you see fit. Additionally, Darren Williams, CEO and Founder, BlackFog, has offered perspectives on the last month of ransomware attacks, below:

“Another month, another record. November surprised us with the sheer volume of attacks. Not only did it break an all-time record with 89 attacks, it was 27% more than the previous best in September. The unreported to reported ratio continues to remain stable this month at 492% continuing the trend with companies reporting breaches more often. The significant fines now being imposed by regulators will ensure this moves even lower in the coming months.

The SEC rules require registrants to disclose material cybersecurity incidents they experience within four days and to report on an annual basis material information regarding their cybersecurity risk management, strategy and governance. The orders are effective on or about December 18, 2023.

We saw the Healthcare and Manufacturing sectors grow significantly with increases of 21% and 20% respectively and the Finance sector by a massive 83%, effectively doubling the number of attacks in only one month. This does not bode well coming into the holiday season with the banks and financial institutions under significant pressure.

In terms of variants, we see LockBit and BlackCat continue to dominate reported attacks, both at 19.2% each. LockBit also dominates the unreported attacks at 34.9% and BlackCat at 14.2%. As in previous months, data exfiltration continues to dominate as the primary mechanism for extortion at 90% with traffic flowing to China at 30% and Russia 9% of the time.”

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