Underground Ransomware Gang: Evolving Tactics Threaten Global Organizations in 2024

The Underground ransomware gang has become a significant threat to organizations worldwide, first identified in July 2023 and resurfacing in May 2024 with a Dedicated Leak Site (DLS). Their attacks now target industries from the UAE to South Korea, employing tailored strategies that exploit stolen credentials and unpatched vulnerabilities.


Once inside a system, the gang disables shadow copies, complicating recovery efforts. They use a dual encryption method, combining AES for file encryption and RSA for key wrapping, with no external communication during the process to hinder decryption.


The malware executes a multi-stage payload, checking command-line parameters to avoid detection and deleting shadow copies while focusing on user-generated content. It generates a random AES key and IV for encryption, and uses a striping method for larger files. Finally, it erases Windows event logs to cover its tracks.
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