Ransomware Attack on The Insurance Association of Connecticut
Incident Date:
May 9, 2024
Overview
Title
Ransomware Attack on The Insurance Association of Connecticut
Victim
The Insurance Association of Connecticut
Attacker
Lockbit3
Location
First Reported
May 9, 2024
Ransomware Attack on The Insurance Association of Connecticut
Attack Overview
The website of the Insurance Association of Connecticut was targeted in a ransomware attack perpetrated by the cybercrime group known as LockBit 3.0. As a consequence, critical data and files were encrypted, rendering them inaccessible to the organization. The perpetrators demanded a ransom payment in exchange for the decryption key required to restore access to the encrypted information. The association's IT team devoted significant efforts to contain the attack and minimize its impact on their operations.
Victim Profile
The Insurance Association of Connecticut (IAC) is a non-profit organization that represents the interests of insurance companies in Connecticut. They have been the voice of insurers in the state for over 50 years, advocating for their members before decision-makers in government. The association focuses on supporting the insurance industry through lobbying efforts, public hearings, and advocacy work.
Industry Standing
The IAC is one of the most well-respected trade associations in Connecticut, with a team of experienced attorneys and lobbyists who work tirelessly for their member companies. They provide updates on laws, regulations, and news stories that impact insurers in the state.
Company Vulnerabilities
Being a prominent organization in the insurance sector, the IAC may have been targeted by threat actors due to the sensitive nature of the data they handle. Their involvement in lobbying and advocacy work could also make them a target for cybercriminals looking to disrupt their operations.
Ransomware Group: LockBit 3.0
The LockBit 3.0 ransomware group, also known as LockBit Black, is a Ransomware-as-a-Service (RaaS) group that has been actively recruiting affiliates and targeting businesses and critical infrastructure organizations. They are known for their advanced encryption techniques, obfuscation methods, and the ability to move laterally through networks.
LockBit May Attacks
Part of the May 2024 attacks, LockBit 3.0 resurfaced following the disruption of its infrastructure in February. Despite law enforcement efforts, the group swiftly returned, targeting over 50 victims within hours of reactivating its platform. LockBit's recent activities have impacted various industries globally, highlighting the widespread reach and impact of ransomware attacks.
Sources:
Recent Ransomware Attacks
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