E-Business
Hacktivism and the New Age of Cyber Warfare
By Sergey Shykevich
Hacktivism has traditionally been associated with loosely managed entities such as Anonymous. These decentralized and unstructured groups are typically made up of individuals cooperating in support of a variety of agendas and many groups have an open-door policy for recruitment.
However, over the last year, and following developments in the Russian-Ukrainian conflict, the hacktivist ecosystem has matured, in both origins of source and motivations.
Hacktivist groups have tightened up their level of organization and control, and today you will see them conduct military-like operations including recruitment and training, sharing tools, intelligence and allocation of targets.
For example, following Russian attacks on Ukrainian IT infrastructure at the beginning of the war, Ukraine set up an unprecedented movement called “IT Army of Ukraine.” Through a dedicated Telegram channel, its operators manage more than 350,000 international volunteers in their campaign against Russian targets.
On the other side of the battlefield, Killnet, a Russian-affiliated group, was established with a military-like organizational structure and a clear top-down hierarchy. Killnet consists of multiple specialized squads that perform attacks and answer to the main commanders.
Most new hacktivist groups have a clear and consistent political ideology that is affiliated with governmental narratives. Others are less politically driven, but have nonetheless made their operations more professional and organized through specifically targeted campaigns motivated by social rather than economic objectives.
Who’s responsible and do we know for sure?
This type of cyber warfare is not only about inflicting damage. All active groups are aware of the importance of media coverage, and they use their communication channels to announce successful attacks and re-publish them to maximize the effect and elevate the fear of such hacktivist attacks.
For example, Killnet has more than 91,000 subscribers on their Telegram channel, where they publish attacks, recruit team members and share attack tools. There is also extensive coverage of the group’s activity on major Russian media outlets to promote their achievements in cyber space and validate the impact of their successful attacks on their ‘enemies’ or anti-Russia entities.
Increasingly, there is a rising trend in groups claiming responsibility for cyberattacks when in reality, they had little or no involvement in them. Germany’s flagship airline, Lufthansa, experienced a severe IT issue in early 2023 which left thousands of passengers stranded at several airports across the country. It was thought to be the result of construction work causing damage to external cabling.
Pro-Russian hacktivist group, Killnet, claimed responsibility for the attack and said it was retaliation for Germany’s support of Ukraine. The group published a statement via its social media channels saying: ‘We killed the Lufthansa employee corps network with three million requests per second of fat data packets.
These were experiments on rats that were successful. Now we know how to stop any navigation and technical equipment of any airport in the world. Who else wants to supply weapons to Ukraine?’
Despite this assertive message, there is little evidence to suggest that Killnet had any involvement in the attack and were in actual fact attempting to enhance their notoriety and increase levels of fear. It is not always easy to establish who or what organisation is responsible for an attack and it is even more difficult when the incident is potentially state-sponsored.
Who is the person (or government) behind the mask
There is a big difference between claiming responsibility and being responsible. Operating under the cloak of anonymity may be seen as a way of legitimising state-sponsored attacks, but when does it become terror, not disruption?
Research conducted by the University of Notre Dame argues state-sponsored hacktivism is ‘weapons and attacks in the cyber domain intended to produce political effects similar to those usually sought as the goal or objective of a conventional use of force by states against one another’.
Such an approach means nation states can act anonymously within the cyber world, and perhaps most importantly, without fear of retaliation and without taking responsibility for the attacks.
By targeting components of critical infrastructure such as financial or healthcare institutions, government buildings, energy suppliers or emergency services, attacks aim to cause maximum disruption. Though with such significant backing, the aftereffects of an attack such as this could be on a par with those where force had been used.
Prior to Russia’s invasion of the Ukraine, hacktivism was a scarcely used term in a serious context and was arguably on the decline. However, the war prompted a surge in activity from known and unknown groups. Those unknown parties are the ones that create the most intrigue, as they are potentially being aided by government organisations to carry out attacks on targets for political gain.
For example, within 48-hours of Russia’s invasion of Ukraine there was an 800% increase in suspected Russian sourced cyberattacks. Activity hasn’t slowed either.
According to Check Point Research in the second half of 2022, Killnet, the biggest Russia affiliated hacktivist groups targeted more than 650 organisations or individuals, interestingly only 5% of which were Ukrainian.
It is not just Russia who are believed to be using government resources to aid cyberattacks, but groups allegedly in Iran, Israel and China also may have links to state-sponsored activity.
What will hacktivism look like in 2023?
The frequency and sophistication of attacks in this new era of hacktivism will raise questions about their origins. Who or what organisation is behind the mask and are their actions motivated by political gain or terror? In the year ahead, it will become increasingly more difficult to identify what is a government, hacktivist or cyberattack.
It may be too soon to refer to hacktivism as state-sponsored terrorism, but there is no doubt that it is becoming harder to disconnect one from the other. As geopolitical tensions continue to dominate the world agenda this new age of cyberwarfare will only get worse, before it gets better.
Sergey Shykevich is Threat Intelligence Group Manager at Check Point Software.
E-Business
Kaspersky Reveals a New Malicious Framework Targeting Cryptocurrency Users with the Use of OkoSpyware
At its recent annual Cyber Security Weekend for the Middle East, Turkiye and Africa (META) region, Kaspersky Global Research and Analysis Team (GReAT) shared insights about the new OkoBot campaign targeting cryptocurrency users.
The new sophisticated framework employs TookPS to exfiltrate seed phrases and uses a new OkoSpyware module to monitor Chromium-based browsers and deploy various malware strains, including the Rilide stealer.
It has already targeted hundreds of victims across over 25 countries, with the highest number of affected end users recorded in Brazil, Vietnam, Canada, Mexico and Turkiye. According to Kaspersky experts, the threat remains active and primarily poses a risk to cryptocurrency users.
In January 2026, experts from the Kaspersky Global Research and Analysis Team (GReAT) identified multiple attacks involving a previously unknown malware capable of capturing the contents of cryptocurrency wallet windows. Dubbed Okobot, the new sophisticated malware framework comprises more than 20 malicious payloads and implants designed to perform a wide range of functions, including collecting local files, executing remote commands, downloading arbitrary browser extensions, stealing cryptocurrency wallets, harvesting seed phrases and credentials, recording video and carrying out other malicious activities.
One of the new implants used in the campaign is a loader that modifies browser memory to load and hide malicious extensions. OkoBot also includes a new OkoSpyware module, which captures keystrokes and the video stream of a target application’s window.
Currently available information does not allow the campaign to be attributed to any known crimeware actor with high confidence. However, the techniques and infostealer involved are widely used by Russian-speaking threat actors, and technical analysis has also revealed code artifacts in Russian.
The initial infection typically occurs through two main vectors: ClickFix attacks, in which threat actors use social engineering to trick users into running malicious code, and malware distributed via GitHub under the guise of legitimate software. During the investigation, researchers identified one such case involving a fake installer for SQL Server Management Studio (SSMS), a widely used Microsoft database management tool.
The malicious framework includes SeedHunter, a malware component that monitors active system processes and injects an implant into Trezor Suite, Ledger Wallet, and Ledger Live, – official applications used to manage cryptocurrency assets. When it detects a connected Trezor or Ledger hardware wallet, it triggers the hooked functions to display a hard-coded phishing page aimed at stealing the user’s seed phrase, using a distinct layout for each wallet type.
“The OkoBot campaign has been active for more than a year and remained ongoing as of July 2026. The observed infection vectors strongly suggest that developers are among its primary targets. Of particular concern is the malware’s continued evolution, which indicates that the framework is being actively maintained. As distribution efforts persist, the campaign has the potential to reach more users and expand into additional countries in the near term,” says Dmitry Galov, Head of the Russia and CIS unit at Kaspersky Global Research and Analysis Team.
PalmPay, one of Africa’s leading digital financial services companies, is considering a listing on the Hong Kong Stock Exchange after attaining a valuation of more than one billion dollars, according to a Bloomberg report.
PalmPay
The report, citing sources familiar with the matter, said the fintech company was also seeking to raise between 150 million dollars and 200 million dollars in fresh funding ahead of a potential Initial Public Offering (IPO).
According to the sources, the additional capital is expected to support PalmPay’s next phase of expansion across Africa and selected Asian markets.
If completed, the IPO would rank among the most significant public market debuts by an African fintech company and could encourage other technology firms on the continent to explore listings beyond the traditional financial centres of London and New York.
Founded in 2019, PalmPay has emerged as one of Africa’s fastest-growing consumer fintech platforms, providing digital payments, money transfers, savings, lending and merchant payment solutions.
The company has established its strongest market presence in Nigeria while expanding operations into Ghana, Tanzania and Bangladesh as part of its international growth strategy.
PalmPay says it currently serves more than 35 million registered users and supports over one million businesses and merchants, processing millions of transactions daily.
Its rapid growth has positioned it among Africa’s leading fintech firms, alongside companies such as Flutterwave, Moniepoint, OPay, Wave and Onafriq.
Unlike many technology startups that have prioritised rapid customer acquisition over profitability, PalmPay reportedly achieved profitability in 2025, a development analysts say could enhance investor confidence as the company prepares for another fundraising round and an eventual stock market listing.
The report noted that Hong Kong could offer strategic advantages for PalmPay due to its strong commercial ties with Asian investors and the company’s growing presence in emerging Asian markets.
PalmPay’s early investors include Transsion Holdings, the maker of the Tecno, Infinix and itel smartphone brands, as well as investors linked to NetEase and MediaTek.
Industry analysts believe these long-standing relationships could make Hong Kong a natural destination for PalmPay’s public listing while broadening access to investors already familiar with its business model.
The company’s IPO plans come as venture capital investment in African startups has slowed considerably since the record funding years of 2021 and 2022, prompting many technology firms to focus on profitability, stronger balance sheets and sustainable long-term growth.
Against that backdrop, PalmPay’s proposed fundraising and listing are expected to serve as an important test of international investor appetite for profitable African fintech companies.
The company’s valuation also underscores the resilience of Africa’s digital payments sector, driven by rising smartphone adoption, expanding internet access and increasing demand for cashless transactions across the continent.
Although PalmPay has yet to make a final decision on either the fundraising or the IPO timetable, the reported preparations indicate that the company is positioning itself for its next phase of growth.
Industry observers say a successful Hong Kong listing could provide fresh momentum for Africa’s technology sector and create an alternative pathway for high-growth startups seeking access to global capital markets.
E-Business
CMS T&M Launches TMO Rides to Enable a Faster & Cashless Transport Experience for CMS – Ajah Passengers
CMS Transport Management (CMS T&M), one of Lagos’ longest-standing and most trusted transport operators, officially launches a new service known as TMO Rides.
This new initiative is designed to simplify the daily commute by introducing seamless cashless payments for passengers across its bus network.
For over 58 years, CMS T&M has played a significant role in moving millions of passengers daily along the CMS – Ajah routes through its fleet of high-capacity buses popularly.
The launch of TMO Rides marks another milestone in the company’s journey toward building a smarter, more efficient transport experience.
Through the initiative, passengers will have access to TMO Cards for a seamless transport. This is more exciting because TMO launches with 2 consecutive apps.
These apps help to eliminate the need for cash transactions while reducing boarding delays and create a more convenient experience for passengers.
Beyond introducing digital fare payments, the initiative reflects CMS T&M’s broader commitment to modernize public transportation through innovation, operational efficiency and improved customer experience.
CMS T&M operates within Nigeria’s regulated transport ecosystem as a registered member of the BRT Association of Nigeria (BRTAN), where it is also an equity stakeholder, reinforcing its commitment to a cooperative-driven transport system.
The company is equally registered with the Lagos Metropolitan Area Transport Authority (LAMATA), the agency responsible for planning, regulating and franchising public transportation in Lagos State, and is also a member of the National Union of Road Transport Workers (NURTW) that promotes safe and organized road transport operations.
Speaking on the launch, Andy, Managing Director of CMS T&M, said: “For nearly six decades, our focus has remained the same, which is moving people safely and efficiently.
“As the transportation needs of Lagos continue to evolve, we must evolve with them. TMOx Rider is about making everyday commuting easier by giving our passengers a faster, more convenient way to pay while improving the overall travel experience.
“This launch represents another important step in our commitment to building a smarter, more accessible transport system for everyone.”
The launch of TMO Rides forms part of CMS T&M’s long-term vision of embracing technology to improve public transportation without compromising the trust and consistency the passengers have relied on for generations.
The cashless payment infrastructure empowering TMO Rides is enabled by Treepz, whose mobility technology supports digital fare collection and operational efficiency.
By providing the technology behind the initiative, Treepz is helping CMS T&M expand access to modern, seamless transportation while advancing a shared vision of making everyday mobility more connected, convenient and accessible across Lagos.
Visit our website: https://www.cmstaxiandmotor.com/
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