From blog.criminalip.io

LockBit 3.0 Ransomware Case Study: A Huge Cybersecurity Risk

In this article, we will analyze Lockbit 3.0 ransomware cases and determine how attacks similar to these cases can be prevented.

What is LockBit 3.0 Ransomware?

LockBit 3.0 (also known as Lockbit Black) is a ransomware created by the cybercrime syndicate LockBit. September 2019 marked the beginning where this ransomware was used, with the 3.0 version running amok until July of 2021. This group caused tremendous monetary damage to global businesses, and the ransomware responsible for this damage revealed their upgraded 3.0 program on July 2022. When a device is infected with the LockBit 3.0 program, all the files on an infected device are encrypted, and the program demands a ransom from the victim to recover the encrypted data and prevent leaks.