The Kroll CTI team observed a campaign using a new malware that appears to be very similar to BABYSHARK, previously reported to have been developed and used by the APT group Kimsuky (KTA082). The malware was deployed as part of an attempted compromise that was detected and stopped by the Kroll Responder team. The activity started with exploitation of a recently addressed authentication bypass in the remote desktop software ScreenConnect, developed by ConnectWise.

In 2022, Gartner coined the term and concept of continuous threat exposure management (CTEM) — a five-stage approach that continuously exposes an organization’s networks, systems, and assets to simulated attacks to identify vulnerabilities and weaknesses.

Kroll’s Q4 analysis shows ransomware groups increasingly gaining initial access through external remote services. The quarter presented a complex security landscape with a mix of both positive and negative trends: positively, activity associated with larger ransomware-as-a-service (RaaS) operations, like LOCKBIT and BLACKCAT, declined.

While businesses might have become more prepared for direct cyberattacks, 2023 demonstrated that unfortunately a business is only as secure as the organizations within their environment. Third-party risk, which is to say any risk to an organization by external parties in its ecosystem or supply chain, was the headline culprit in 2023.