The frequency and intensity of cyberthreats seem to be increasing despite businesses’ ongoing efforts to thwart malicious actors. Honeywell, a global technology and manufacturing firm that also provides cybersecurity solutions, reported a 46% rise in ransomware extortion attacks between October 1, 2024, and March 31, 2025, as compared to the previous six-month period.
Win32.Worm.Ramnit, a Trojan that typically targets the banking sector to steal account details, was found in 37% of files blocked by Honeywell’s SMX product. That represented a 3,000% rise from the second quarter of 2024, when Honeywell last reported on it.
In its investigation report, Honeywell stated that “it can likely be assumed it has been repurposed to extract control system credentials” due to the Trojan’s saturation presence in the ecosystems of its industrial clients. “Existing adversaries continue to disrupt operations across critical sectors, even in the absence of new ransomware variants specifically designed for industrial control systems.”
1,929 ransomware incidents were made public throughout the repor
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