Threat actor analysis
Blackwater has disclosed 11 victims on its leak site, 0% of all ransomware listings tracked in this database. Its earliest disclosure here dates to May 2026.
The group has listed organisations in 6 countries, most often in China (3 victims), followed by United States, Brazil, Argentina.
By industry, its listings concentrate in Manufacturing, Professional Services, Energy & Utilities — sectors that hold sensitive data or cannot tolerate long outages, both of which raise the pressure to pay.
Like most current ransomware operations, Blackwater 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.