The CiphBit ransomware group is a relatively new and low-profile threat actor that emerged around 2023, operating within the growing ecosystem of emerging ransomware brands. The group appears to be financially motivated and targets small to mid-sized organizations, often those with limited security maturity and exposed attack surfaces.

CiphBit follows the double extortion model, encrypting victim systems while exfiltrating sensitive data and threatening public disclosure if ransom demands are not met. Initial access is commonly linked to phishing emails, stolen credentials, and exposed remote services, after which the attackers rely on legitimate administrative tools to move laterally and deploy the ransomware payload.

From a technical standpoint, CiphBit does not introduce novel techniques, instead leveraging commodity ransomware capabilities, including strong encryption and attempts to disable backups and endpoint protections.