First appearing in 2022, Everest ransomware focuses on high-value data theft and extortion, making it one of the more aggressive ransomware operations in recent years.
Like other ransomware strains, an infection with Everest results in data encryption, system lockdowns, and a ransom demand. Victims are often required to pay in cryptocurrency to recover their files and prevent stolen data from being leaked online.
A break-in at your offices would compel you to call the police immediately and touch nothing until they arrive, understanding the need for forensic work to take place. A cyber-attack requires the same action.
Your first responsibility would be to call in the forensic experts and ensure the environment remains untouched. This is not a job for your IT team or MSP. There are Digital Forensic specialists available 24/7 who can assist you.
Everest ransomware was first identified in 2022 and is suspected to have connections to other well-known cybercriminal groups. The ransomware is particularly dangerous due to its focus on critical industries such as finance, healthcare, and government agencies. Its aim is to disrupt operations and demand hefty ransoms in exchange for decryption keys or to prevent data leaks.
Everest spreads through phishing emails, supply chain attacks, and brute-force attacks on remote desktop protocol (RDP) services. It employs a combination of strong encryption and double extortion tactics, ensuring that victims are pressured into paying the ransom.
One of the group's defining tactics is double extortion. This means that, in addition to encrypting the victim’s files, they steal sensitive data and threaten to release it publicly if the ransom is not paid.
By using this method, the Everest Ransomware Group ensures that even if an organisation has reliable backups and can restore its systems without paying for decryption keys, the threat of data exposure still compels many victims to negotiate. This tactic has proven to be particularly effective against companies handling confidential data.
Everest emerged in 2022 and has since been responsible for numerous attacks on enterprises and government institutions worldwide. Everest is a significant cyber security concern with 244 documented victims to date.
Solace Cyber’s track record includes hundreds of successful response recoveries, providing Digital Forensic Incident Response services, 24x7x365.
“Compared to the 2023 survey, the proportion of businesses with some form of insurance has increased from 37% to 43%.”
Solace Global was founded in 2010 as global experts in risk management and security, offering services such as Travel, Crisis, and Offshore Risk Management. With a 24/7 Security Operations Centre and an in-house intelligence team providing daily and weekly reports, Solace Global is accredited to ISO 27001, 14001, 45001, and 9001 standards.
Solace Cyber was established in 2021, specialising in Cyber breaches, particularly Digital Forensics and Incident Response, Ransomware, Risk Management, and Information Security, along with Managed Security Services. The leadership team collectively possess over 20 years of experience in the IT and security industry. Solace Cyber is accredited to ISO 27001.
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A forensic analysis needs to be meticulous and a clean restore and recovery requires a wealth of experience not normally available in an in-house team who must provide a broader range of IT support skills:
Solace Cyber was established precisely for this scenario. We have a well-defined process for handling cyber-attacks like Everest, which involves a 6-step approach:
It includes a thorough digital forensic analysis from step 2 where the output becomes a central component of business recovery. This is because understanding the attack is of critical importance:
It is critical that the analysis of digital evidence is carried out to an agreed plan. This will have been designed to provide the best and earliest chance of discovering a root cause, which is essential to inform remediation/eradication and recovery as well as supporting a legal take-down case if this is applicable. A legal take-down means we can assist in the legal enforcement that stops the criminals from publishing the data, thus undermining the ransom notice.
Solace’s Digital Forensic and Incident Response teams maintain consistent communication throughout. Dedicated Incident Managers and technical engineering leads provide updates during the Cyber Incident Response journey, utilising risk registers and working within change management processes, all from triage through to post-incident, delivering successful business recovery.
Solace Cybers' assistance extends beyond recovery. After restoring your business operations, we work collaboratively to ensure your cyber security posture is robust using a threat-informed methodology. This involves leveraging our comprehensive 9-step framework known as the Solace Global - Cyber 9 Step Process.
A Everest ransomware attack generally enters a system in one of the following ways:
We recommend you adopt policies to:
After recovering from Everest Solace Cyber recommends that you update your business continuity plan to account for lessons learnt during this attack & recovery.
The average cost of ransomware breaches hover around £500K, while smaller email data breaches typically incur expenses of around £50K. A critical decision emerges between preserving the environment for forensic analysis or opting for swift recovery to minimise business disruption. Delays in identifying and resolving breaches only exacerbate costs.
Cybersecurity insurance claims entail a multifaceted process, encompassing reasonable expenditures for investigation and remediation, alongside coverage for legal, business interruption, criminal liability, employment liability, and ransom policies. While the insurance industry plays a pivotal role in facilitating business recovery, cyber insurance is perceived as volatile within the sector, and many policies require meticulous validation.
Facing genuine pressure, there's a crucial decision to make - one that could rescue your organisation from weeks of operational standstill, reputation damage, and client data loss. Yet, the probability of a favourable outcome remains slim, emphasising the importance of engaging a specialised ransomware incident response team. They are your most viable recourse for navigating a ransomware incident.
The NCSC have documented the deliberations for paying ransomware: https://www.ncsc.gov.uk/ransomware/home
Important Reminder: It is a criminal offense to pay money to people who are subject to financial sanctions. The list of who is subject to financial sanctions is constantly changing.
The latest iteration can be found here: https://www.gov.uk/government/publications/financial-sanctions-consolidated-list-of-targets
Yes. There's a possibility that some of the lost data contains "Personal Data" belonging to your customers. Safeguarding such data is a legal requirement, so it's important to consider notifying the Information Commissioner's Office (ICO) about this incident, as well as your customers. https://ico.org.uk/
Your insurer or legal counsel will provide guidance on the necessary steps and how to proceed in this matter. However, Solace Cyber has experience collaborating with insurers and legal representatives and can offer assistance in managing these relationships during this challenging period.
Your business operations may experience significant disruptions. These could include:
To mitigate these effects, it's crucial to have a comprehensive incident response plan in place, including communication strategies, collaboration with cybersecurity experts, and measures to enhance system resilience and data protection. Additionally, transparency with stakeholders and proactive steps to rebuild trust can help minimize the long-term consequences on your business.
Action Fraud is the UK’s national reporting centre for fraud and cybercrime. Whether you have been scammed, defrauded, or experienced cybercrime in England, Wales, or Northern Ireland, Action Fraud offers a central point of contact for information on fraud and financially motivated cybercrime.
If your systems are showing signs of an Everest attack, REMAIN CALM.
YOU MUST NOT TOUCH THEM, RESTORE OR OVERWRITE THE DATA (explanation above).
Contact Solace Cyber on 01202 308818 or complete our form for a call back from one of our experts.
We will act promptly to reduce your business downtime.
Solace Cyber, part of Solace Global, helps companies across the UK recover from ransomware attacks and data breaches.
SOLACE GLOBAL CYBER LTD is registered in England & Wales no. 08830710
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