Q2 2022 Energy Sector: Quarterly Threat Landscape Scorecard

Q2 2022 Energy Sector: Quarterly Threat Landscape Scorecard

Product Serial: S-2022-08-19a

TLP:CLEAR

ZeroFox Intelligence is excited to announce the release of our Energy Sector Quarterly Threat Landscape Scorecard for Q2 of 2022.

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https://cloud.zerofox.com/alpha_team/advisories/14956

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View the full report here.

Scope Note

ZeroFox Intelligence is derived from a variety of sources, including—but not limited to—curated open-source accesses, vetted social media, proprietary data sources, and direct access to threat actors and groups through covert communication channels. Information relied upon to complete any report cannot always be independently verified. As such, ZeroFox applies rigorous analytic standards and tradecraft in accordance with best practices and includes caveat language and source citations to clearly identify the veracity of our Intelligence reporting and substantiate our assessments and recommendations. All sources used in this particular Intelligence product were identified prior to 5:00 PM (EDT) on July 28, 2022; per cyber hygiene best practices, caution is advised when clicking on any third-party links.

Executive Summary

Threat actors continued to exchange ideas on how to maneuver within the economic and political constraints brought about by the conflict in Ukraine in Q2. Energy sector organizations and their supply chains faced a persistent threat from social engineering campaigns, with particular increases in the use of fraudulent applications, fake Windows 11 upgrades, and employment-related scams to steal credentials and deploy trojans. The threat of vulnerability exploitation grew, averaging almost 70 Common Vulnerabilities and Exposures (CVEs) disclosed per day—up from 56 per day at the end of 2021.

The pace of vulnerability disclosure likely represents a new normal. The threat to the energy sector from Initial Access Brokers (IABs) showed small signs of resurgence, though this increase was not seen across all sectors. The threat from malware remained broadly consistent with previous quarters, underpinned by the high rate of new infostealers and trojans emerging and older versions launching new campaigns. Ransomware threat actors may be struggling to elicit payments from victims, driving changes to extortion tactics. Russia is the primary nation-state threat to the energy sector, particularly in Europe. Russia-linked groups will very likely continue targeting the European energy sector and wider supply chain infrastructure in an attempt to weaken their resolve to support Ukraine.

Key Findings

• Cybercriminals are increasingly concerned with challenges converting cryptocurrency to fiat currency.
• Social engineering campaigns increasingly used LNK shortcut files, fake Windows upgrades, and employment scams.
• The threat from CVEs and previously-unknown software vulnerabilities likely increased.
• The IAB marketplace showed signs of resurgence.
• ZeroFox Intelligence assesses with low confidence that the threat of malware deployment against the energy sector increased, driven by pro-Russian entities seeking to take advantage of, and exacerbate, strained supply chains.
• The threat from ransomware and digital extortion likely slightly decreased. Eliciting payment from victims may be getting more difficult.