HardBit Ransomware: A Threatening Cyber Attack Targeting Organizations with New Version 2.0

HardBit is a ransomware strain that focuses on extorting cryptocurrency payments from organizations in exchange for data decryption. It first emerged in October 2022, and a newer version, HardBit 2.0, surfaced at the end of November of the same year. To negotiate ransom demands, the group behind HardBit urges victims to reach out to them via email or the Tox instant messaging platform. More recently, the group has adopted a new tactic demanding to be informed of the victim’s cyber insurance coverage to increase their ransom demands, potentially extorting millions of dollars from the victim.