'NetWalker' ransomware explodes thanks to 'as a service' expansion
The gang behind the malware has made $29m since March, according to McAfee


A ransomware group known as 'NetWalker' has been linked with a spate of attacks on businesses, after pivoting to a 'ransomware as a service' (RaaS) model, with the group offering its tools for sale over the dark web.
While the malware has been observed in various forms since August last year, it has become much more active following an aggressive pivot to a RaaS distribution model. The sudden uptick in attacks has helped the group amassed millions of dollars in ill-gotten gains in just over five months, according to McAfee Advanced Threat Research.
NetWalker is fairly new, having only been around for a year and remaining relativly quiet prior to 2020. The group behind it is similar to those behind Maze and REvil in that they threaten to publish victims' data if ransoms are not paid, McAfee said.
From the start of this year, the gang has been providing the tools and infrastructure for others to launch ransomware attacks in return for affiliate payments. These have been posted on dark market forums, inviting other criminals to become affiliates and help them spread the ransomware. The group reportedly has a preference for those with proven experience in cybercrime and existing access to corporate networks.
"NetWalker RaaS prioritises quality over quantity and is looking for people who are Russian-speaking and have experience with large networks," McAfee noted in its research. "People who already have a foothold in a potential victim's network and can exfiltrate data with ease are especially sought after. This is not surprising, considering that publishing a victims data is part of NetWalker's model."
Since the start of this year, NetWalker ransomware has been used on a number of different targets in western Europe and also the US, with the gang reportedly preferring larger organisations. In June, the University of California was attacked with NetWalker and was forced to negotiate a ransom over the dark web, thought to be $1,140,895. This also follows a similar attack on the University of Michigan.
RELATED RESOURCE
Improving cyber security for remote working
13 recommendations to improve cybersecurity for remote working
The latest victim of the NetWalker group is a threat detection startup called Cygilant, according to TechCrunch. Screenshots of the company's internal network files and directories reportedly appeared on a dark web site associated with the NetWalker group.
Sign up today and you will receive a free copy of our Future Focus 2025 report - the leading guidance on AI, cybersecurity and other IT challenges as per 700+ senior executives
"Our Cyber Defense and Response Center team took immediate and decisive action to stop the progression of the attack," Christina Lattuca, Cygilant's chief financial officer said in a statement. "We are working closely with third-party forensic investigators and law enforcement to understand the full nature and impact of the attack. Cygilant is committed to the ongoing security of our network and to continuously strengthening all aspects of our security program."
Lattuca said that the company hadn't paid a ransom, but TechCrunch noted that the data had disappeared from the dark web - a development which sometimes indicates that the group has entered negotiations with its victim.
Bobby Hellard is ITPro's Reviews Editor and has worked on CloudPro and ChannelPro since 2018. In his time at ITPro, Bobby has covered stories for all the major technology companies, such as Apple, Microsoft, Amazon and Facebook, and regularly attends industry-leading events such as AWS Re:Invent and Google Cloud Next.
Bobby mainly covers hardware reviews, but you will also recognize him as the face of many of our video reviews of laptops and smartphones.
-
How to implement a four-day week in tech
In-depth More companies are switching to a four-day week as they look to balance employee well-being with productivity
-
Intelligence sharing: The boost for businesses
In-depth Intelligence sharing with peers is essential if critical sectors are to be protected
-
Hackers breached a 158 year old company by guessing an employee password – experts say it’s a ‘pertinent reminder’ of the devastating impact of cyber crime
News A Panorama documentary exposed hackers' techniques and talked to the teams trying to tackle them
-
The ransomware boom shows no signs of letting up – and these groups are causing the most chaos
News Thousands of ransomware cases have already been posted on the dark web this year
-
Everything we know about the Ingram Micro cyber attack so far
News A cyber attack on Ingram Micro severely disrupted operations and has been claimed by the SafePay ransomware group.
-
A prolific ransomware group says it’s shutting down and giving out free decryption keys to victims – but cyber experts warn it's not exactly a 'gesture of goodwill'
News The Hunters International ransomware group is rebranding and switching tactics
-
Swiss government data published following supply chain attack – here’s what we know about the culprits
News Radix, a non-profit organization in the health promotion sector, supplies a number of federal offices, whose data has apparently been accessed.
-
Ransomware victims are getting better at haggling with hackers
News While nearly half of companies paid a ransom to get their data back last year, victims are taking an increasingly hard line with hackers to strike fair deals.
-
LockBit data dump reveals a treasure trove of intel on the notorious hacker group
News An analysis of May's SQL database dump shows how much LockBit was really making
-
‘I take pleasure in thinking I can rid society of at least some of them’: A cyber vigilante is dumping information on notorious ransomware criminals – and security experts say police will be keeping close tabs
News An anonymous whistleblower has released large amounts of data allegedly linked to the ransomware gangs