What Happens When You Bargain Wrong

The LockBit ransomware gang has listed its victim SSP Worldwide again, this time for wrong bargain! The Russian-threat group lectured SSP, irritated by the company’s offer of $400,000 against the $7 million ransom demand.

According to the post shared by the threat group, the ransom deadline is December 29, 2022, and failing to comply with the details might trigger the threat actor to release the data on the dark web forums.

Moreover, while threatening the company to conform to the demands, the threat actor lectured them by saying, “You are offering $400,000 for data that is worth much more and will cost your company and individuals reputational damage.”

“We recommend any negotiation company that knows how to negotiate not to behave like children. You need professionals”, added the threat actor in the note. 

SSP and the wrong bargain

SSP employs over 1,000 insurance brokers and over 160 insurers, including 20 major insurers. The general insurance technology solution provider has operations in over 50 countries, including the United Kingdom, continental Europe, Asia Pacific, Africa, and the United States.

According to the report shared by Red Packet Security, LockBit uploaded the stolen data from the company on its leak site, shared some insights into the hack, and listed the negotiations on the site. For $5000, the cost to extend the deadline by 24 hours, the cost to destroy all Information, and the cost to download the data at any moment are $7000000.

LockBit has been aggressive in the last few months, and has attacked big corporations and government authorities like Port of Lisbon, Thales, California Department of Finance, G4S Branch in Serbia, among others throughout 2022.

The Russian threat group was on the cybersecurity news in September, when the working model of LockBit 3.0, the next generation of the ransomware, was leaked by one of its developers.

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