Threat actor analysis
Babuk2 has disclosed 180 victims on its leak site, 0.8% of all ransomware listings tracked in this database. Its earliest disclosure here dates to January 2025.
The group has listed organisations in 52 countries, most often in United States (34 victims), followed by Brazil, India, Indonesia.
By industry, its listings concentrate in Public Sector, Technology, Healthcare — sectors that hold sensitive data or cannot tolerate long outages, both of which raise the pressure to pay.
Like most current ransomware operations, Babuk2 is likely to use double extortion: data is stolen before files are encrypted, and organisations that refuse to pay are named on the leak site with the stolen data as leverage.