Verified Label, a Business Services Company, Suffers Ransomware Attack by Lockbit2

Verified Label, a company specializing in business and promotional printing, has been targeted by the ransomware group Lockbit2. The attack was announced on the group's dark web leak site, and the victim's website is www.verifiedlabel.com. Verified Label operates in the Business Services sector and is known for its deep integration within multiple critical industries, making it an essential business supplier during crises.

The company offers a wide range of products and services, including personal protective equipment (PPE), label printers, applicators, barcode and product labels, custom printing, custom promotional products, and employee rewards programs. Verified Label's broad product line and advanced software system allow clients to save time and money while ensuring consistency and customer service.

The size of the company is not explicitly stated in the search results, but it is mentioned that many companies spend over 1% of their total sales revenue on designing, purchasing, and managing printed items and promotional logo products. This suggests that Verified Label likely serves a diverse clientele and has a significant impact on the industry.

The vulnerabilities that led to the ransomware attack are not detailed in the search results. However, it is known that ransomware attacks can be triggered by social engineering tactics or by exploiting system vulnerabilities. To prevent such attacks, managed service providers (MSPs) should adopt a layered approach that includes employee education, IT security, and business continuity and disaster recovery (BCDR) technology.

The Lockbit2 ransomware group is known for its aggressive tactics, targeting various industries and demanding ransom payments in untraceable cryptocurrencies like Bitcoin. The group has been active since at least 2022 and has been linked to several high-profile attacks.

Verified Label has not yet released a public statement regarding the ransomware attack. The company is encouraged to report the incident to federal agencies, such as the FBI and CISA, for valuable information and assistance in detecting and eradicating the malware.

The ransomware attack on Verified Label underscores the critical importance of prioritizing cybersecurity measures and preparing for potential threats. The company should collaborate with IT professionals and law enforcement to mitigate the impact of the attack and prevent future incidents.

Sources

• Verified Label. (n.d.). About Us. Retrieved April 10, 2024, from https://verifiedlabel.com/.
• Datto. (n.d.). Ransomware Protection: Malware Attack Solutions. Retrieved April 10, 2024, from https://www.datto.com/ransomware/.
• FBI. (n.d.). Ransomware. Retrieved April 10, 2024, from https://www.fbi.gov/how-we-can-help-you/scams-and-safety/common-scams-and-crimes/ransomware.
• CISA. (n.d.). Report Ransomware. Retrieved April 10, 2024, from https://www.cisa.gov/stopransomware/report-ransomware.
• Rural Mutual. (n.d.). What to Do if Your Business Falls Victim to a Ransomware Attack. Retrieved April 10, 2024, from https://www.ruralmutual.com/resource/cyber-security/what-to-do-business-victim-ransomware-attack/.
• CrowdStrike. (2023, January 30). What is Ransomware as a Service (RaaS)? Retrieved April 10, 2024, from https://www.crowdstrike.com/cybersecurity-101/ransomware/ransomware-as-a-service-raas/.