A New Ransomware Threat: Hellcat’s Rapid Expansion

HellCat is a Ransomware-as-a-Service (RaaS) operation that emerged in 2024, leveraging a decentralized affiliate model to deliver customized payloads and infrastructure. It gains access through phishing or exploiting vulnerabilities, then exfiltrates data and encrypts systems in a double-extortion scheme. The ransomware shares code similarities with Morpheus, indicating a shared toolkit. Its growing sophistication targets high-value sectors, urging strong cyber defenses and backups.