Security researchers at Rapid7 have identified a state-sponsored operation in which the Iranian-linked group MuddyWater disguised espionage activity as a ransomware incident. The campaign, observed in early 2026, initially appeared to involve the Chaos Ransomware-as-a-Service group but was later assessed as a false flag operation. Forensic analysis linked the intrusion to MuddyWater through specific code-signing certificates and command-and-control infrastructure.
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