The PolySwarm Blog

Related Families: INC
Verticals Targeted: Legal Services, Retail, Finance, Telecommunications, Agriculture, Manufacturing, Construction, Transportation, Healthcare, Energy

Executive Summary

Lynx ransomware is a ransomware-as-a-service (RaaS) that was first observed in July 2024. Since its debut, the ransomware has gained momentum and has continued its activity into early 2025.

Verticals Targeted: Government, Insurance, Real Estate, Healthcare, Manufacturing, Legal Services, Construction, Retail, Business Services, Energy, Education, Telecommunications, Software, Hospitality, Transportation, Financial 

Executive Summary

Medusa ransomware is a RaaS that has been active since at least 2023. Medusa has claimed several victims so far in 2025, including UK’s Gateshead Council.

Verticals Targeted: Government, Business Services, Education, Insurance, Software, Media, Finance, Agriculture, Manufacturing, Construction, Healthcare, Retail

Verticals Targeted: Manufacturing, Finance, Transportation, Legal Services, Healthcare, Defense, Business Services

Executive Summary

Black Basta is a ransomware group that rose in the aftermath of the dissolution of Conti ransomware in 2022. In recent months, Black Basta has begun using tactics that are reminiscent of nation-state threat actor tactics and has shifted from opportunistic targeting to more refined, strategic targeting.

Related Families: RustyStealer

Executive Summary

Ymir is a new ransomware family that was recently observed encrypting systems previously compromised by RustyStealer. PolySwarm analysts consider Ymir to be an emerging threat.

Related Families: HellDown
Verticals Targeted: Energy

Executive Summary

HellCat ransomware recently targeted French energy giant Schneider Electric. PolySwarm analysts consider HellCat to be an emerging threat.

Executive Summary

NotLockBit is a ransomware family that mimics LockBit. NotLockBit is unique in that it is one of the first fully functional ransomware families to target MacOS systems.