Vikrant Springs Hit by LockBit 3.0 Ransomware Attack
Incident Date:
May 9, 2024
Overview
Title
Vikrant Springs Hit by LockBit 3.0 Ransomware Attack
Victim
Vikrant Group
Attacker
Lockbit3
Location
First Reported
May 9, 2024
Ransomware Attack on Vikrant Springs by LockBit 3.0
Victim Profile
Vikrant Springs, a leading manufacturer and exporter of multi-leaf and parabolic springs for the automotive industry, fell victim to a cyberattack by LockBit 3.0 on May 15th, 2024. The company, part of the Vikrant Group, boasts over 35 years of experience in providing world-class suspension system solutions.
They employ 196 individuals and operate in the manufacturing sector. Their annual revenue was reported to be $150 million in 2024, showcasing its significant presence in the industry.
Unique Selling Points
Vikrant Springs stands out in the industry due to its commitment to quality and excellence. The company's parabolic springs are designed with engineering precision, while their multi-leaf springs offer maximum support and stability to a wide range of vehicles. Vikrant Springs aims to be the most preferred automotive components manufacturer in India, emphasizing innovation and customer satisfaction.
Vulnerabilities and Attack Details
The cyberattack by LockBit 3.0 targeted Vikrant Springs' website, vikrantsprings.com, resulting in the exfiltration of sensitive data, including agreements and employee information. Despite not specifying a ransom demand initially, the attackers leaked a sample of the data and imposed a ransom deadline on the company, creating pressure to respond swiftly to the attack.
Ransomware Group Distinction
LockBit 3.0, also known as LockBit Black, is a Ransomware-as-a-Service (RaaS) group that has evolved from previous LockBit versions. The group is known for its advanced capabilities, including file encryption, desktop modifications, and lateral movement within networks. LockBit 3.0 is considered highly dangerous and evasive, making it challenging for security researchers to analyze and defend against.
Sources:
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