Fargo

Fargo, also known as Mallox and Tohnichi, is a ransomware strain that targets Microsoft Windows systems. It first surfaced in June 2021 and has since claimed to have infected hundreds of organizations worldwide. This malicious software is distributed primarily to unsecured MS-SQL servers, exploiting vulnerabilities to gain access, disrupt operations, and potentially hold data hostage for ransom. The malware has been particularly active recently, with various researchers referring to it as Mallox, TargetCompany, or Fargo. The malware has shown a specific interest in targeting financial services apps, including PhonePe in India, WeChat, Bank of America, Wells Fargo in the U.S., Binance in Malta, Barclays in the U.K., QNB Finansbank in Turkey, and CaixaBank in Spain. This indicates a broad geographical distribution and an intent to infiltrate high-value targets where significant financial transactions occur. Wells Fargo's stance is that customers are responsible for losses if attackers use wire transfers to steal money from their checking accounts, highlighting the potential financial risks associated with this malware. Despite the same name, it's important not to confuse the Fargo ransomware with the popular film and TV show "Fargo". The movie, set in snowy North Dakota, features characters like a desperate-for-money car dealer Jerry Lundegaard and his criminal partners, and has inspired a successful TV series. The malware, on the other hand, is a serious cybersecurity threat that has had significant impacts on businesses and individuals worldwide since its emergence in 2021.