Four ransomware gangs working together in what they call a “cartel” is more of a dangerous partnership, according to a Virginia-based threat intelligence firm.
In a report released Wednesday, Analyst1 noted that while each gang dubbed Twisted Spider, Viking Spider, Wizard Spiker and Lockbit claim they’re in a cartel, they don’t share profits.
They can more accurately be described as “a collective of criminal gangs who, at times, work together in ransom operations,” the report noted, adding this actually makes them “far more dangerous” than if they were operating independently because they still share tactics and resources.
As possible proof of the partnership’s strength, the report notes that the criminal cartel says it emerged in June 2020 by someone claiming to represent Twisted Spider. Five months later, Twisted Spider announced they were shutting down their operations and claimed the cartel never existed. In February of this year, a multinational law enfo