BlackCat Reborn? TRM Exposes Ransomware Group’s Suspected Rebrand to ’Embargo’

Another day, another ransomware rebrand—cybercriminals are starting to look like failed startups pivoting to Web3.

TRM Labs drops the bombshell: BlackCat, the notorious ransomware crew, might be operating under a new alias—Embargo. Because nothing says 'fresh start' like extortion with a side of branding.

Why the rebrand? Maybe BlackCat’s PR team realized their old name lacked menace—or maybe they’re just following the crypto playbook: when the heat’s on, rebrand and relaunch. (Looking at you, FTX 2.0 hopefuls.)

No numbers? No problem. The absence of hard data here speaks volumes—these groups thrive in the shadows, and TRM’s intel suggests the game’s far from over.

One thing’s certain: while ransomware gangs refresh their logos, victims still pay in Bitcoin. Some things never change—just ask your local hedge fund manager.