The recent tweet, states that the Chinese electrical firm Midea Organization has been held ransom by the REvil ransomware group. The Fortune 500 company Midea Group has experienced strong commercial growth in numerous industries. The expected yearly income of the Midea Group is 343,400,000,000, or almost $49,000,000,000.
What is REvil?
Over the past year, the ransomware-as-a-service (RaaS) operation REvil has extorted substantial sums of money from businesses all over the world. The Resident Evil film series inspired the moniker, which stands for Ransomware Evil.
According to recent assessments from security companies, the most pervasive ransomware threat doubles down on its extortion attempts by also taking company data and threatening to release it.
REvil, also known as Sodinokibi, originally surfaced in April 2019 and gained notoriety after GandCrab, a different RaaS gang, shut down its operations. Researchers and security companies recognized REvil in its early stages as a strain of GandCrab or at least discovered numerous connections between the two.
REvil: How Does it Work?
Similar to Ryuk, WastedLocker, and other ransomware programs, REvil is one of the ransomware tools used in human-operated ransomware campaigns. This indicates that to have the most significant impact, hackers map the network after getting in, engage in lateral movement, acquire domain administrator rights, then install the ransomware on all computers.
