LockBit ransomware leaks data of two Indian companies

The LockBit ransomware gang proved itself in action recently after our threat monitoring team in iZOOlogic discovered that two new Indian companies were included in the group’s list of victims. The companies in question, Precision Group and DEMECH, were given until March 28 before the gang leaked their alleged stolen data.

Precision Group is an IT solutions company that provides its clients with biometric, IoT, cloud and systems integration solutions, and IT infrastructure management services. Meanwhile, Deccan Mechanical and Chemical Industries Private Limited (DEMECH India) is a company that offers wear and abrasion-resistant products and bulk material handling equipment to clients.

 

Massive amounts of corporate information were leaked from the two Indian companies.

 

As seen on the LockBit group’s leak site, both Indian companies had their stolen data published. In most cases, compromised companies get their stolen data leaked online if they fail or refuse to cooperate with the ransomware group’s demands.

Our researchers also discovered which data had been leaked from the two Indian companies.

For DEMECH, the group published 11.6GB of data, comprising corporate asset histories, purchase orders, bank statements, general ledgers, and supplier and customer details.

For Precision Group, LockBit did not disclose the amount of the stolen database, although it included NDAs, rental agreements, confidential data projects, vendor details and payments, and finance and audit documents.

The targeted Indian companies have yet to release statements to confirm the LockBit ransomware group’s cyberattack claims. The companies’ websites (demechindia[.]com and precisionit[.]co[.]in) are also up and running.

This report is only the latest out of many companies recently added to LockBit’s list of victims. Thus, it could suggest how the group has been actively targeting large corporations and organisations worldwide, making them still one of the most notorious ransomware gangs rampaging in the wild.

Companies are advised to be extra vigilant against the threats of attacks from this ransomware group, ensuring maximum cybersecurity protection across their infrastructure.