Well-known ransomware gang LockBit has been usurped as the world’s top ransomware gang, according to a recent report from NCC Group.

For the past eight months, LockBit has led the world in ransomware attacks. But the group had its assets seized in February in connection with a crackdown by The National Crime Agency of the UK, working in conjunction with the FBI and international law enforcement, known as “Operation Chronos.”

LockBit ransomware-as-a-service (RaaS) was launched in 2019, and by 2022, it was vying with Russia-backed Conti for the top ransomware group. Conti’s disintegration into smaller groups led the way for LockBit to take the top slot, selling access to its ransomware to third-party cybercriminal groups, with a commission scheme for money received as ransom from attacks.