Co-authored by Yaniv Allender and Alexandra Blia
Introduction
In the ever-evolving landscape of cyber threat actors, the lines between ideologically driven hacktivism and financially motivated cybercriminals have become increasingly blurred. Originally fueled by political, social, or ethical causes, hacktivist groups have historically engaged in digital protest through website defacements, data leaks, and distributed denial of service (DDoS) attacks.
However, in recent years, a noticeable trend has emerged. Some hacktivist groups are evolving into ransomware operations and even becoming ransomware affiliates. This transformation is driven by a mix of ideological fatigue, opportunity for financial gain, access to sophisticated tools, and the growing profitability of extortion-based attacks. The result is a new hybrid threat actor—one that merges the disruptive zeal of hacktivism with the ruthless efficiency of cybercrime.
Understanding this shift is crucial for defenders, as it represents a convergence of motives that complicates attribution, response, and mitigation strategies. To this end, we have examined three prominent examples of relevant threat actors, namely FunkSec, KillSec, and GhostSec, identifying the drivers behind their transition to financially motivated campaigns and exploring the shift in their modus operandi.
Threat actor analysis
FunkSec
The FunkSec ransomware group emerged within the cybercrime ecosystem as a rising star in December 2024. The ransomware-as-a-service (RaaS) group has claimed at least 172 victims to date. The group proudly promotes itself as an AI-driven ransomware group, with their encryptor, FunkLocker, and some of the malware’s source code allegedly generated using generative AI tools.
The group targets organizations from various sectors and regions, such as government, education, automotive, energy, IT, and manufacturing, located in countries like the United States, Israel, France, Italy, Germany, India, and Australia.
FunkSec started as a politically motivated hacking (hack ..
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