How Ransomware Gangs Are Now Operating Like Venture-Backed Startups

Cybersecurity Business with Fexingo: Security Companies, Breaches, and Enterprise Defense · May 24, 2026 · 7m · transcript

In this episode of Cybersecurity Business with Fexingo, Lucas and Luna explore how ransomware groups have evolved from scrappy hackers into professional, venture-capital-backed-like organizations. They examine the case of LockBit — which operated with a PR team, a bug bounty program, and an affiliate model resembling a SaaS sales channel. The hosts break down the economics: how ransomware-as-a-service works, the shift to 'big game hunting' targeting enterprises with deep pockets, and how these groups use data exfiltration and public-shaming tactics to force payouts. They also…