Intel 471 Reports A Drop in Ransomware Assaults in The Third Quarter Of 2022

Highlights:

• The third quarter of 2022 saw a spike in ransomware assaults, with 111 businesses being targeted in July, 162 in August, and 182 in September, according to Intel 471 researchers’ observations.
• Consulting and professional services, followed by manufacturing, saw the second-highest impact from July 2022 to September 2022.

In the third quarter of 2022, 27 ransomware variants were used to launch 455 attacks, according to a report by Intel titled “471 Leading Ransomware Variants in Q3 of 2022.

It is a drop in attacks of 134 from the first quarter of 2022 and 38 from the second quarter of 2022, respectively. LockBit 3.0, responsible for 42% of all reported instances, was the most common ransomware strain in Q3 2022.

The next three were ALPHV at about 7%, Black Basta at 11%, and Hive at 9%.

The 27 different ransomware variations that emerged in Q3 2022 were detailed in the most recent Intel 471 report, showing how many victims, nations, sectors and industries were affected.

The research from Intel 471 also closely examines the effects of the four new varieties, including LockBit 3.0 and Black Basta, that pose the most dangers to nations like the United States and the United Kingdom, considering the fall of the Conti ransomware organization earlier this year.

The third quarter of 2022 saw a spike in ransomware assaults, with 111 businesses targeted in July, 162 in August, and 182 in September, according to Intel 471 researchers’ observations.

With 192 attacks starting in the third quarter of 2021, the LockBit variation has continued to be the most damaging ransomware service.

Following LockBit 3.0, Black Basta was linked to 50 attacks, Hive to 42, and ALPHV to 30.

Other ransomware variants seen making multiple attacks this quarter were AvosLocker, Vice Society, RansomHouse, STORMOUS RANSOMWARE, Quantum, and LV. Each of these was responsible for 32 or fewer breaches.

According to the study, attacks affecting the consumer and industrial products industry fell by 14% in Q3 2022 compared to Q2 2022.

But just like in Q1 and Q2 of 2022, this sector was still the most affected this quarter.

Consulting and professional services, followed by manufacturing, saw the second-highest impact from July 2022 to September 2022.

These industries were also among the top four most affected in Q3 and Q4 2021 and Q1 and Q2 2022.

So far, in 2021 and 2022, the primary sectors affected by the problem have mostly stayed the same.

North America accounted for 43% of all reported attacks during the third quarter of 2022, according to Intel 471. Europe came in second with 33%, Asia third with little under 11%, and South America fourth with 4%. From the previous quarter, these percentages remained essentially unchanged.