Jim Walter, Senior Threat Researcher on SentinelLabs research team, to discuss their work on "HellCat and Morpheus | Two Brands, One Payload as Ransomware Affiliates Drop Identical Code." Over the past six months, new ransomware groups like FunkSec, Nitrogen, and Termite have emerged, while established threats such as Cl0p and LockBit 4.0 have resurfaced. Two prominent Ransomware-as-a-Service (RaaS) operations, HellCat and Morpheus, have gained traction, with research indicating that affiliates of both are using nearly identical ransomware payloads.

Despite similarities in their encryption techniques and ransom notes, there is no conclusive evidence linking HellCat and Morpheus to the Underground Team, though shared tools or affiliates may be involved.

The research can be found here:

• HellCat and Morpheus | Two Brands, One Payload as Ransomware Affiliates Drop Identical Code

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