Since its emergence in December 2023, DragonForce has quickly risen to prominence as a sophisticated Ransomware-as-a-Service (RaaS) operator. Unlike traditional ransomware groups, DragonForce brands itself as a “cartel”, consolidating influence and attracting a wide affiliate network across dark web forums such as BreachForums, RAMP, and Exploit.
By combining advanced tools, psychological pressure tactics, and strategic alliances or rivalries with other ransomware groups, DragonForce has targeted 363 companies worldwide between December 2023 and January 2026.
In this article, we’ll explore:
- DragonForce’s operational model and “cartel” strategy
- Technical insights into their ransomware binaries
- Attack trends and targeted industries
- Mitigation strategies for organizations
DragonForce’s Cartel-Like RaaS Operations
Strategic Positioning
- Positions itself as a cybercrime cartel, differentiating from standard criminal groups
- Attracts affiliates through reputation and brand consolidation
- Offers cooperation and conflict strategies with rival ransomware groups to strengthen market position
Recruitment & Promotion
- Active on dark web forums such as BreachForums, RAMP, and Exploit
- Promotes affiliate opportunities, specialized tools, and operational support
- Provides team coordination, data analysis, and harassment services to maximize ransom success
Attack Trends & Victim Profile
- Total companies targeted: 363 (Dec 2023 – Jan 2026)
- Peak activity: December 2025, 35 companies in a single month
- Targets diverse industries, showing operational flexibility
- Employs customized ransomware payloads via tools like RansomBay
DragonForce’s strategy emphasizes financial and psychological pressure to compel victims to pay, including personalized harassment calls and tailored ransom demands.
Technical Analysis of DragonForce Ransomware
Windows Binaries & Encryption Routines
- Core encryption and process termination remain consistent
- Structural updates include expanded metadata: “Encryption Ratio” field increased from 1 byte → 4 bytes, total metadata now 537 bytes
- Uses Bring Your Own Vulnerable Driver (BYOVD) technique to neutralize security processes
- New beta feature “encryption_rules” allows precise control over file types and encryption modes (full, partial, or header-based)
Execution Flow
- Decrypts embedded configuration using ChaCha8 algorithm
- Applies customized encryption rules depending on file size and type
- Optimizes encryption speed and severity to maximize operational impact
Operational Ecosystem & Dark Web Influence
- Operates like a software enterprise, providing affiliates with tools and analytics
- Engages in rivalries and alliances with other ransomware groups
- Uses dark web forums for recruitment, promotion, and coordination
- “Cartel” branding consolidates influence and enhances credibility among affiliates
Mitigation Strategies for Organizations
- Endpoint Protection
- Deploy advanced anti-ransomware solutions
- Monitor for suspicious driver exploitation (BYOVD technique)
- Regular Backups
- Maintain offline backups to ensure rapid recovery in case of encryption
- Network Segmentation & Zero Trust
- Limit lateral movement and access privileges
- Monitor unusual data flows between systems
- Employee Awareness & Incident Response
- Train staff to recognize phishing and social engineering attempts
- Maintain a tested incident response plan for ransomware attacks
- Threat Intelligence Integration
- Subscribe to ransomware alerts
- Track dark web chatter related to DragonForce campaigns
Conclusion
DragonForce represents a new breed of ransomware threat, operating with cartel-like sophistication. Its combination of RaaS, affiliate networks, targeted harassment, and technical precision makes it a persistent danger for global organizations.
Key takeaways for cybersecurity teams:
- Monitor for advanced ransomware techniques like BYOVD
- Implement Zero Trust models and behavioral monitoring
- Maintain offline backups and robust incident response protocols
- Stay updated on threat intelligence and emerging ransomware trends
Organizations must adopt multi-layered defenses to withstand both the technical and psychological pressures employed by DragonForce.
