A ransomware attack is a type of malware that infects your computer and locks you out of your files. It then uses powerful encryption to keep those files away from you until you pay the perpetrator a ransom. Did you know that these types of attacks happen so often, and have been happening more in recent years? In this article, I’ll share some information on just how prevalent they are, what can happen with these types of viruses embedded in your system, and what it could mean for the future of computing technology.
What is ransomware?
Ransomware is a type of malware that encrypts a victim’s files and demands a ransom to decrypt them. It’s a growing threat to businesses and individuals alike, as it can be used to target anyone with an Internet connection. Ransomware attacks are becoming more common, and they can be devastating to the victims. Businesses are particularly vulnerable to ransomware attacks, as they often have more valuable data that criminals can exploit. If you’re a business owner, it’s important to be aware of the risks of ransomware and take steps to protect your data.
Which organizations are commonly targeted with ransomware?
Small businesses are the most common target for ransomware attacks. This is because they often don’t have the same level of security as larger businesses and can be more easily targeted. Hospitals, government agencies, and other critical infrastructure organizations are also common targets because these types of organizations often have sensitive information that criminals can exploit for financial gain.
Why are ransomware attacks becoming more common?
There are several reasons why ransomware attacks are becoming more common. First, cybercriminals can make money by exploiting vulnerabilities in software and attacking businesses and individuals. Second, many people don’t have effective cybersecurity measures in place, which makes them susceptible to ransomware attacks. And finally, business executives and individuals have become more reliant on technology, which makes them vulnerable to cyberattacks.
Pros and cons of paying off a ransom demand
There’s no question that ransomware attacks are on the rise. But what should you do if you’re hit with a demand for payment? Some experts say it’s best to pay up, while others argue that it’s a dangerous precedent to set. Here, we explore the pros and cons of paying off ransomware demand.
On the pro side, paying the ransom may be the quickest and easiest way to get your data back. And it’s worth considering if the data is mission-critical and you don’t have a recent backup.
However, there are several risks to consider before paying off a ransomware demand. First, there’s no guarantee that you’ll get your data back after paying. Second, you’re effectively giving into extortion and encouraging future attacks. And finally, by paying the ransom, you could be inadvertently funding other criminal activities.
Ultimately, whether or not to pay a ransomware demand is a decision that must be made on a case-by-case basis. But it’s important to weigh all the risks and potential consequences before making a decision.
Following are some famous ransomware attacks:
WannaCry
It’s still one of the most talked-about cybersecurity threats out there because it was so widespread and because it hit so many big names. WannaCry infected more than 230,000 computers in 150 countries, and it encrypts your files unless you pay a ransom. The attack caused billions of dollars in damage, and it showed just how vulnerable we all are to ransomware.
Bad Rabbit is one of the most popular forms of ransomware right now. It first emerged in late 2016 and has since been used in attacks against major organizations like hospitals, media outlets, and even government agencies.
One of the things that make Bad Rabbit so dangerous is that it uses “drive-by” attacks to infect victims. This means that all you have to do is visit an infected website and your computer will automatically get infected. And once your computer is infected, the ransomware will start encrypting your files right away.
NotPetya
On June 27, 2017, a major ransomware attack known as NotPetya began spreading rapidly throughout Ukraine and quickly spread to other countries. The attack caused widespread damage, with many organizations losing critical data and systems. Despite the damage caused, the number of ransomware attacks has been declining in recent years.
Locky
According to a recent report from Symantec, the Locky ransomware attack happened an average of 4,000 times per day in 2016. That’s a staggering increase from the mere 400 attacks that occurred daily in 2015. And it’s not just businesses that are at risk – individuals are also being targeted by these sophisticated cyber criminals
Sodinokibi (REvil)
According to a recent blog post by cybersecurity firm Symantec, the Sodinokibi (also known as REvil) ransomware has been on the rise as of late, with a significant uptick in attacks being observed in the past few months. The blog post notes that this particular strain of ransomware has been targeting both individual users and businesses to extort money from its victims. In many cases, the attackers behind Sodinokibi are reportedly using sophisticated social engineering techniques to trick victims into clicking on malicious links or opening malicious attachments, which can then lead to the ransomware being installed on the victim’s system.
Once installed, Sodinokibi will begin encrypting files on the infected system and will also attempt to gain access to any connected network shares. The attackers will then demand a ransom from the victim in exchange for decrypting their files. The blog post notes that the average ransom demanded by Sodinokibi attackers is currently around $12,000, although some victims have reportedly been asked to pay much more.
While Symantec’s blog post doesn’t provide any specific numbers on how often Sodinokibi attacks are happening, it’s clear that this particular strain of ransomware is becoming increasingly prevalent.
CryptoLocker
CryptoLocker is a type of ransomware that encrypts files on your computer, making them impossible to open unless you pay a ransom. This malware is usually spread through email attachments or fake websites that look legitimate. Once your computer is infected, you have a limited time to pay the ransom before your files are permanently encrypted.
SamSam
According to a report from Symantec, the SamSam ransomware attack occurred an average of once every 24 hours in 2018. That’s up from an average of once every two hours in 2017. In total, there were more than 5,000 SamSam attacks in 2018, which is a 250% increase from the year before.
One of the best ways to protect against a SamSam attack is to have good backups in place. This way, if your organization is hit by this ransomware, you will be able to restore your data from a backup and avoid having to pay the ransom.
Ryuk ransomware
According to a recent study, ransomware attacks are happening more and more often. They’ve become so common that one type of ransomware, called Ryuk, has even been given its nickname: “The Apocalypse Ransomware.”
Ransomware attacks are becoming increasingly common, with Ryuk ransomware being one of the most prevalent strains. According to a recent report, Ryuk ransomware was responsible for nearly $150 million in damages in the first half of 2019 alone. While businesses of all sizes are at risk of a ransomware attack, smaller businesses are often the most vulnerable. This is because they typically lack the resources and expertise to effectively defend against these types of attacks.
Conclusion
As we continue to move across the internet, more and more organizations are being targeted by ransomware. This type of attack encrypts all the data on a victim’s computer, then demands payment for the attacker to release the encryption key. If your organization is unlucky enough to be targeted by ransomware, you must take steps to protect yourself and your data.