Rising Threat of Ransomware Targeting Cloud Services

Ransomware groups are increasingly targeting cloud networks to exploit sensitive data related to financial services and insurance firms. These attacks are primarily carried out through social engineering tactics, targeting employees to gain access to cloud instances. Among the notable actors is Scattered Spider, an Advanced Persistent Threat group, which has partnered with the notorious BlackCat Ransomware group, refining their ransomware-as-a-service model. High-profile victims include Caesars Entertainment and MGM Resorts.