Discussions for Black Hat Europe 2025 will delve into the complex dynamics of the ransomware economy, revealing that even in the illicit world of cybercrime, reputation plays a significant role. ESET’s WeLiveSecurity blog sheds light on these forthcoming insights, examining how the concept of ‘reputation’ impacts ransomware operations and victim interactions.

Understanding the Ransomware Economy

The ransomware economy is a sophisticated ecosystem involving multiple actors, from initial access brokers to ransomware-as-a-service (RaaS) operators and cryptocurrency money launderers. While often perceived as purely opportunistic and destructive, this economy, like any other, operates with certain unwritten rules and expectations among its participants and, surprisingly, even with its victims.

Reputation as Currency: Insights for Black Hat Europe 2025

The topic for Black Hat Europe 2025 highlights how a ransomware group’s reputation can influence its success, the likelihood of victims paying, and even internal relationships within the cybercriminal underworld. A group known for consistently decrypting data after payment might be seen as more ‘trustworthy’ by victims, potentially increasing their success rate. Conversely, groups that fail to deliver could lose credibility, impacting future operations. This perspective offers a nuanced view of the ransomware landscape, suggesting that understanding these social and reputational factors can inform better defensive strategies.

Source: https://www.welivesecurity.com/en/business-security/black-hat-europe-2025-reputation-ransomware/