Project34 Ransomware is an alias for the Knight ransomware group, which emerged in May 2023 as a rebrand of the Cyclops ransomware operation. Operating under a Ransomware-as-a-Service (RaaS) model, the group's primary motivation is financial gain through double extortion tactics. Knight ransomware distinguishes itself by offering multi-platform support for Windows, Linux, macOS, ESXi, and Android systems, and by providing both a full and a 'lite' version of its encryptor to affiliates. The group also claimed to have links with other ransomware operations like Lockbit and Babuk. The Knight ransomware operation officially ceased activity in February 2024, with its source code being sold, leading to the emergence of the RansomHub ransomware group.