Telecom
Cybercriminals Are Doubling Down on Credential Theft, Launching More Innovative Ransomware Attacks – Sophos 2023 Threat Report Reveals
Sophos, a global leader in innovating and delivering cybersecurity as a service, has on Monday published its 2023 Threat Report.
The report details how the cyberthreat landscape has reached a new level of commercialization and convenience for would-be attackers, with nearly all barriers to entry for committing cybercrime removed through the expansion of cybercrime-as-a-service.
The report also addresses how ransomware remains one of the greatest cybercrime threats to organizations with operators innovating their extortion tactics, as well as how demand for stolen credentials continues to grow.
Criminal underground marketplaces like Genesis have long made it possible to buy malware and malware deployment services (“malware-as-a-service”), as well as to sell stolen credentials and other data in bulk. Over the last decade, with the increasing popularity of ransomware, an entire “ransomware-as-a-service” economy sprung up.
Now, in 2022, this “as-a-service” model has expanded, and nearly every aspect of the cybercrime toolkit—from initial infection to ways to avoid detection—is available for purchase.
“This isn’t just the usual fare, such as malware, scamming and phishing kits for sale,” said Sean Gallagher, principal threat researcher, Sophos. “Higher rung cybercriminals are now selling tools and capabilities that once were solely in the hands of some of the most sophisticated attackers as services to other actors.
“For example, this past year, we saw advertisements for OPSEC-as-a-service where the sellers offered to help attackers hide Cobalt Strike infections, and we saw scanning-a-service, which gives buyers access to legitimate commercial tools like Metasploit, so that they can find and then exploit vulnerabilities.
“The commoditization of nearly every component of cybercrime is impacting the threat landscape and opening up opportunities for any type of attacker with any type of skill level.”
With the expansion of the “as-a-service” economy, underground cybercriminal marketplaces are also becoming increasingly commodified and are operating like mainstream businesses. Cybercrime sellers are not just advertising their services but are also listing job offers to recruit attackers with distinct skills. Some marketplaces now have dedicated help-wanted pages and recruiting staff, while job seekers are posting summaries of their skills and qualifications.
“Early ransomware operators were rather limited in how much they could do because their operations were centralized; group members were carrying out every aspect of an attack. But as ransomware became hugely profitable, they looked for ways to scale their productions. So, they began outsourcing parts of their operations, creating an entire infrastructure to support ransomware. Now, other cybercriminals have taken a cue from the success of this infrastructure and are following suit,” said Gallagher.
Indeed, as the cybercrime infrastructure has expanded, ransomware has remained highly popular—and highly profitable. Over the past year, ransomware operators have worked on expanding their potential attack service by targeting platforms other than Windows while also adopting new languages like Rust and Go to avoid detection. Some groups, most notably Lockbit 3.0, have been diversifying their operations and creating more “innovative” ways to extort victims.
“When we talk about the growing sophistication of the criminal underground, this extends to the world of ransomware. For example, Lockbit 3.0 is now offering bug bounty programs for its malware and ‘crowd-sourcing’ ideas to improve its operations from the criminal community. Other groups have moved to a ‘subscription model’ for access to their leak data and others are auctioning it off. Ransomware has become, first and foremost, a business,” said Gallagher.
The evolving economics of the underground has not only incentivized the growth of ransomware and the “as-a-service” industry, but also increased the demand for credential theft. With the expansion of web services, various types of credentials, especially cookies, can be used in numerous ways to gain a deeper foothold in networks, even bypassing MFA. Credential theft also remains one of the easiest ways for novice criminals to gain access to underground marketplaces and begin their “career.”
Sophos also analyzed the following trends:
·The war in Ukraine had global repercussions for the cyberthreat landscape. Immediately following the invasion, there was an explosion of financially motivated scams, while nationalism led to a shake-up of criminal alliances between Ukrainians and Russians, particularly among ransomware affiliates.
· Criminals continue to exploit legitimate executables and utilize “living off the land binaries” (LOLBins) to launch various types of attacks, including ransomware. In some cases, attackers deploy legitimate but vulnerable system drivers in“bring your own driver” attacks to attempt to shut down endpoint detection and response products to evade detection.
· Mobile devices are now at the center of new types of cybercrimes. Not only are attackers still using fake applications to deliver malware injectors, spyware and banking-associated malware, but newer forms of cyberfraud have been growing in popularity, such as “pig butchering” schemes. And this crime is no longer just affecting Android users, but iOS users as well.
· The devaluation of Monero, one of the most popular cryptocurrencies for cryptominers, led to a decrease in one of the oldest and most popular types of cryptocrime—cryptomining. But mining malware continues to spread through automated “bots” on both Windows and Linux systems.
To learn more about the changing threat landscape in 2022 and what it means for security teams in 2023, read the full Sophos 2023 Threat Report.
MTN Nigeria, in collaboration with ONErpm and Ultima Studios, has announced Ayodeji Benson, popularly known as Ayo Benzi, as the winner of the maiden edition of the Next Afrobeats Star reality show.
L-R: Onyinye Ikenna-Emeka, Chief Marketing Officer, MTN Nigeria; Ayodeji Benson, Winner, Next Afrobeats Star Reality Show (Season 1) and Emamoke Ogoro, General Manager, Brand and Communication, MTN Nigeria, at the grand finale of the Next Afrobeats Star Reality Show (Season 1), held at the Ultima Studios, Lekki, Lagos on Saturday, December 13, 2025.
The grand finale, held on Sunday night at Ultima Studios in Lekki, Lagos, marked the climax of a nationwide talent search that began in September with over 15,000 aspiring musicians.
After weeks of auditions, mentorship, and rigorous training, five finalists – Ayo Benzi, Dave Cash, Kaeko, Somto O’Laker, and Lucky Yay – battled for the top prize in a high-energy showcase of performance and artistry.
At the end of the electrifying contest, Ayo Benzi emerged victorious, securing a ₦150 million music deal. Dave Cash was named first runner-up with ₦100 million, while Kaeko, Somto O’Laker, and Lucky Yay received ₦75 million, ₦50 million, and ₦25 million respectively.
Throughout the season, contestants were mentored by leading Afrobeats producers Sarz, Puffy Tee, P Prime, and Andre Vibez. Benzi, who was part of Puffy Tee’s team, credited the mentorship programme for sharpening his craft and stage presence.
Speaking at the event, Onyinye Ikenna-Emeka, Chief Marketing Officer of MTN Nigeria, said the initiative reflects the company’s commitment to youth empowerment and cultural expression.
“The Next Afrobeats Star platform is about creating real opportunities for young Nigerians and giving their talent the structure, visibility, and support it deserves.
“Afrobeats continues to place Nigeria on the global cultural map, and MTN is proud to be enabling the next generation of artists who will take this sound even further,” she said.
She added that the finale was not just a competition but a celebration of growth and readiness for the global stage.
In his acceptance speech, Ayo Benzi described the victory as a defining moment in his career.
“A big thank you to MTN. From the audition days, the treatment MTN has given us has been amazing. God bless the brand,” he said.
The finale also featured guest performances by Afrobeats stars Iyanya and Bella Shmurda, adding glamour to the night and reinforcing the show’s connection to the wider music ecosystem.
With the successful conclusion of the season, MTN Nigeria and its partners reaffirmed their role in championing youth ambition, supporting creative industries, and shaping the future of Nigerian music through platforms that turn potential into opportunity.
T2, formerly known as 9mobile, is under investigation by the Nigerian Communications Commission (NCC) in Benue State for an undisclosed incident disrupting USSD, SMS, voice, and data services across nine local government areas.
T2
The affected areas include Ado, Agatu, Gwer East, Gwer West, Konshisha, Obi, Ohimini, Okpokwu, and Otukpo, as detailed in an advisory on the NCC Major Outages Portal, which tracks significant disruptions reported by Mobile Network Operators (MNOs) and Internet Service Providers (ISPs).
Neither T2 nor its public relations firm, Chain Reactions, has responded to inquiries on the outage’s cause or restoration efforts as of this report.
The NCC’s continued reference to the operator as 9mobile, months after its public rebranding to T2 in August 2025, has sparked questions about whether the name change was formally notified to the regulator.
This probe aligns with NCC mandates requiring operators to disclose major outages, their impacts, and timelines for fixes, with compensation obligatory for disruptions exceeding 24 hours under the Consumer Code of Practice Regulations.
Industry watchers note that such incidents, often linked to fibre cuts, power failures, or infrastructure faults, underscore ongoing challenges in Nigeria’s telecoms sector, particularly amid T2’s subscriber losses post-rebrand. NCC vows transparency via its portal to hold operators accountable and protect consumers.
Telecom
NCC Unveils Draft 5-Year Spectrum Roadmap, 60 GHz License-Exempt Guidelines to Boost Broadband, Innovation
Nigerian Communications Commission (NCC) has unveiled two pivotal regulatory draft documents aimed at reshaping Nigeria’s communications sector over the next five years and fast-tracking deployment of ultra-high-speed wireless technologies.
NCC
In a public notice dated December 19, 2025, and issued pursuant to its mandate under the Nigerian Communications Act (NCA) 2003, the Commission published the Draft 5-Year Spectrum Roadmap for the Communications Sector (2025–2030) and Draft Guidelines for the Use of the 60 GHz License-Exempt Band for Multi-Gigabit Wireless Systems.
Both documents are accessible on the NCC website for stakeholder review, with the roadmap outlining strategic spectrum planning, allocation, and management to optimise utilisation, support emerging technologies like 5G and IoT, expand broadband access, and align with global best practices.
The Spectrum Roadmap emphasises four core pillars: bridging the digital divide through low-band spectrum and satellite services, attracting investments via flexible licensing models, enhancing service quality with mid-band optimisation, and fostering innovation in areas such as direct-to-device connectivity and secondary spectrum trading.
It sets ambitious targets including universal 4G coverage nationwide, 50 per cent 5G penetration in state capitals, and average broadband speeds of 100 Mbps by 2030, while addressing rising data demand through band refarming and efficient management.
Complementing this, the 60 GHz Guidelines establish a license-exempt framework for the 57–66 GHz band, enabling multi-gigabit speeds up to 10 Gbps for short-range applications like WiGig, fixed wireless access, enterprise connectivity, urban broadband, and backhaul solutions.
The rules mandate NCC type approval for equipment, site registration for outdoor use, and interference mitigation measures, while prohibiting wide-area networks to safeguard primary users.
In line with Section 58 of the NCA 2003, NCC invites comments from industry operators, equipment manufacturers, consumer groups, and the public, with submissions due by Friday, January 16, 2025, via email to [email protected], [email protected], and [email protected].
The notice, signed by Mrs Nnenna Ukoha, Head of Public Affairs, stresses that stakeholder inputs will refine the frameworks to drive innovation, investment, competition, and sustainable growth in Nigeria’s telecoms ecosystem.
House of Reps Releases Certified Copies of Tax Reform Acts amid Gazette Discrepancy Claims
974 Nigerians Face Imminent Deportation from Canada Amid Enforcement Surge
Fidelity Bank Appoints Onwughalu as New Chairman After Chike-Obi’s Tenure
DStv Offers Instant Package Upgrade for Customers from January to February
HURIWA Demands Accountability from SEDC Over N140Bn Budget Utilisation
Banks quietly move to enforce new ₦50 transfer levy from Jan. 1
FIRS says NIN, CAC Numbers to Serve as Tax IDs from 2026
Financial Sector Faced AI, Blockchain and Organised Crime Threats in 2025 – Report
Minister Claims Bandits Exploit Poor Network, Bounce Calls Off Multiple Towers
Report Reveals Half of 2025’s Compromised Passwords were Already Leaked
Broadcasting3 days agoDStv Offers Instant Package Upgrade for Customers from January to February
E-Financial3 days agoFidelity Bank Appoints Onwughalu as New Chairman After Chike-Obi’s Tenure
Broadcasting3 days agoFIRS Transforms into NRS as Nigeria Ushers in New Tax Era
General News3 days agoMultiChoice Secures 12 Warner Bros. Discovery Channels in New Multi-Year Deal
News3 days agoHURIWA Demands Accountability from SEDC Over N140Bn Budget Utilisation
News20 hours ago974 Nigerians Face Imminent Deportation from Canada Amid Enforcement Surge
General News20 hours agoHouse of Reps Releases Certified Copies of Tax Reform Acts amid Gazette Discrepancy Claims