Microsoft Exchange ProxyShell vulnerabilities are once again being exploited by threat actors to conduct ransomware attacks. Recently, researchers at Cisco Talos have observed a campaign of Babuk ransomware targeting victims via vulnerabilities in their Microsoft Exchange servers. The unknown threat actor, who researchers label “Tortilla,” has infected systems worldwide but has predominantly attacked U.S.-based entities. Typically, a Babuk ransomware attack begins with a DLL, or .NET executable loaded on the Exchange server via the ProxyShell vulnerability.