Cyclops

Cyclops, also known as Knight and later rebranded as RansomHub, is a malware that emerged in the threat landscape in May 2023. This malicious software, designed to exploit and damage computer systems, infects systems through suspicious downloads, emails, or websites and can steal personal information, disrupt operations, or hold data for ransom. RansomHub is a ransomware-as-a-service variant, an efficient and successful service model that has recently attracted high-profile affiliates from other prominent variants such as LockBit and ALPHV. The RansomHub operation, formerly known as Cyclops and Knight, is believed to be a reboot of the Knight group based on the similarity of their malware. The group has seen an influx of affiliate hackers seeking new opportunities following law enforcement disruptions to LockBit and the apparent exit of BlackCat/Alphv from the criminal underground. These developments have allowed RansomHub to establish itself as a significant player in the cybercrime landscape. In a related development, Cyclops Security, a separate entity from the malware, emerged from stealth mode with a search platform powered by generative AI that security teams can use to understand what is happening in their organizations' environments. The company raised $6.4 million in seed funding from investors including Insight Partners, Merlin Ventures, Tal Ventures, toDay Ventures, CrowdStrike Falcon Fund, and several angel investors. This investment underscores the growing need for advanced cybersecurity solutions in the face of evolving threats such as the Cyclops/Knight/RansomHub malware.