A new ransomware-as-a-service family, dubbed LokiLocker, has been identified by Blackberry Threat Intelligence. As usual, this only affects Windows systems.

The company’s research and intelligence team said in a blog post that LokiLocker did the usual ransomware things like encryption and stealing information. But it also erased data from its victims’ systems.

“However, like its namesake god Loki, this threat appears to have some subtle tricks up its sleeve — including a potential ‘false flag’ tactic that singles out Iranian threat actors,” the post said.

“In Norse mythology, Loki was the accomplished trickster who had the ability to shapeshift at will. One of many impetuous fire gods, Loki was the enemy of the other gods themselves, often entering their banquets without being invited and demanding their food and drink. . LokiLocker similarly insists on acquiring what he has no legitimate right to.”






The post claimed that LokiLocker was first spotted in mid-August 2021 and appeared to primarily target English-speaking victims and Windows PCs.

“Like the god it is named after, LokiLocker enters the victim’s life uninvited and begins searching for assets to steal. The threat then encrypts their files and demands that they pay a monetary ransom to restore access “, wrote the Blackberry team.

“The malware is written in .NET and protected with NETGuard (modified ConfuserEX) using an additional virtualization plugin called KoiVM. KoiVM used to be a licensed commercial protector for .NET applications, but around 2018 its code was open source (or possibly leaked), and it’s now publicly available on GitHub.Although Koi seems to be popular with hacking tools and cracks, we haven’t seen many other malware using it at all. this day.

Satnam Narang, a staff research engineer at security store Tenable, said the wipe data feature was another way to get a ransom.

“Usually when ransomware has included a data erasing component, the ransomware is just a ruse and the intention from the start is to erase data from systems all along,” he said. declared.

“With LokiLocker, it seems the data wipe component is now another new form of extortion if a victim refuses to pay. Ultimately, ransomware groups want to be paid, the data wipe tactic is just another option for these groups as a means to an end.

“The current concern is whether the data-erasing extortion tactic will be widely adopted by other ransomware groups, much like the Maze group’s double extortion tactic.”

Narang said the ransomware ecosystem has grown over the years into its own booming business.

“Historically, holding files hostage was enough to convince organizations to pay, but a few years ago ransomware group Maze pioneered a tactic of stealing victims’ sensitive data and threatening to publish these files online.This tactic has been called double extortion and it is now widely adopted by most ransomware-as-a-service offerings.

“Ransomware groups have begun experimenting with additional extortion techniques in recent years, including performing distributed denial-of-service attacks against victims and even cold calling a victim’s customers threatening to disclose their data also in the hope of convincing them to pressure the first victims to pay the ransom demand.”

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