Bank Info Security: BlackMatter Claims to Shut Ops; Experts Suspect Rebranding

Rebranding Operation, Some Experts Say

Some experts believe that the group may only be rebranding.

According to Carl Wearn, head of e-crime at IT security company Mimecast, it is highly unlikely to be the end of the threat actors behind BlackMatter. "This looks like a classic rebrand or splintering," he says.

"Cybercriminals that are making this much money rarely give up, as the greed that drives them to commit the crimes in the first place rarely allows them to stop. Many criminal organizations claim to shut down in an attempt to reduce the heat, just to splinter, or return after a brief hiatus under a different name," Wearn tells ISMG.