ALPHV: The First Rust-Based Ransomware

ReliaQuest documents the emergence and rapid activity of ALPHV (aka BlackCat), a Rust‑written ransomware RaaS that uses double extortion and an affiliate model; the report details the affiliate recruitment, encryption features, initial access and post‑access techniques (credential compromise, Cobalt Strike, GPO deployment), victim counts and links to prior ransomware groups, and recommends monitoring and indicators to mitigate this active, high‑impact threat.