LockBit attacks Cortina Watch
Date:
June 9, 2023
Overview
Title
LockBit attacks Cortina Watch
Victim
Cortina Watch
Attacker
LockBit
Location
Size of Attack
Unknown/TBD
First Reported
June 9, 2023
Last Updated
October 31, 2022
The Lockbit ransomware gang has attacked Cortina Watch. Cortina Watch is one of the leading timepiece manufacturers in the Asia-Pacific region and employs 166 people. Lockbit, who demanded a $50,000 ransom, published all exfiltrated data on June 8th, suggesting Cortina Watch refused to pay. LockBit has been active since 2019 and is enabled with security tool evasion capabilities and an extremely fast encryption speed. LockBit is noted for using a triple extortion model where the victim may also be asked to purchase their sensitive information in addition to paying the ransom demand for decrypting systems. LockBit is considered to have been the most active attack group in 2022 as other high-profile groups became less active and demanded ransoms of more than $50 million. LockBit tends to target larger enterprises across any industry vertical with the ability to pay high ransom demands but also tends to favor Healthcare targets. LockBit is a very well-run affiliate program and has a great reputation amongst the affiliate (attacker) community for the maturity of the platform as well as for offering high payouts of as much as 75% of the attack proceeds. LockBit is known to employ multiple extortion techniques, including data exfiltration, to compel payment.
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