Royal Ransomware Gang Extorts $275 Million from 350+ Victims

The FBI and CISA have revealed that the Royal ransomware gang has targeted over 350 organizations worldwide since September 2022, with ransom demands exceeding $275 million. The gang conducts data exfiltration and extortion before encrypting the victim's data and publishing it if the ransom is not paid. Phishing emails are a common initial access vector for the threat actors. The advisory also notes that the Royal ransomware operation has rebranded into BlackSuit and reorganized into a more centralized structure. The group is known for its links to the Conti cybercrime gang and typically demands substantial ransoms ranging from $250,000 to tens of millions per attack.