Rapid7 posted a good write-up on Babuk 2, which has been used against some interesting targets lately.
A sample named babuk.exe SHA-256 3facc153ed82a72695ee2718084db91f85e2560407899e1c7f6938fd4ea011e9 was initially shared on the Telegram channel “Babuk 2.0 Ransomware Affiliates”, before being forwarded to another operational account. Upon analysis, it turned out not to be Babuk Locker at all, but rather LockBit 3.0 also known as LockBit Black. This case is yet another example of the well-established trend: threat actors rebranding ransomware strains, whether to confuse researchers, lure affiliates, or just keep the marketing fresh. Either way, babuk.exe is just LockBit 3.0/Black wearing a fake name.
Babuk Locker 2.0 is not a true revival of the original Babuk group—it’s just LockBit 3.0 with a new label. Our analysis strongly suggests that Skywave and Bjorka are behind this operation, either as collaborators or opportunistic actors riding the same wave.
https://www.rapid7.com/blog/post/2025/04/02/a-rebirth-of-a-cursed-existence-the-babuk-locker-2-0/