CDP: A priority in the evolution of ransomware recovery
The first ransomware appeared in 1989. It was distributed via floppy disks; its encryption could be easily reversed, and the ransom of $189 was to be paid to a PO box in Panama. Since those humble beginnings, ransomware has evolved into the massive international cybercrime it is today, that causes billions in damage to organizations big or small.
As new successful attacks are reported daily, it seems that the defenses against the ever more sophisticated attack vectors are lagging the attackers. As many organizations continue to struggle to defend themselves against ransomware, it is worth looking at the currently available technologies and how effective they are in combating it.
SMBs hardest hit by ransomware
A new report from cyber risk insurance provider Coalition shows that while overall incidents are down, and ransomware attacks are declining as demands go unpaid, smaller businesses have become bigger targets.
In the first half of 2022, the average cost of a claim for a small business owner increased to $139,000, 58 percent higher than levels during the first half of 2021.
Ransomware: Recovering after an attack
Ransomware attacks have existed for decades and their perpetrators keep advancing in their abilities. By evading detection, encrypting user files, and coercing unsuspecting victims into paying ransoms, ransomware attackers have threatened the survival of many businesses. The first half of 2022 recorded a total of 236.1 million ransomware attacks across the globe.
The most popular types of ransomware attacks are crypto and locker ransomware. The crypto ransomware encrypts a user's data making it inaccessible until the individual pays the ransom, usually in bitcoin. On the other hand, locker ransomware works by blocking the user's access to the computer system and will not give access until an amount is paid. Despite the security measures businesses put in place, ransomware threats are still on the increase which is why businesses must have a ransomware recovery plan to minimize catastrophic effects.
Ransomware attacks top 1.2 million per month
A new report from Barracuda finds the volume of ransomware threats detected spiked between January and June of this year to more than 1.2 million per month.
Researchers have also seen a spike in the number of service providers that have been hit with a ransomware attack. The main targets, however, are still five key industries: education, municipalities, healthcare, infrastructure, and financial.
Ransomware variants almost double in six months
In the past six months, FortiGuard Labs has seen a total of 10,666 ransomware variants, compared to just 5,400 in the previous half year.
In addition ransomware-as-a-service (RaaS), with its popularity on the dark web, continues to fuel an industry of criminals forcing organizations to consider ransomware settlements.
Cybercriminals attack the wrong water company in bungled extortion attempt
On Monday, hacker group ClOp claimed to have gained access to 5TB of data from UK water supplier Thames Water and said it could change the chemical composition of the company's water supply.
Thames Water denied the reports and said it hadn't faced a cyber attack. Today it emerges that an attack has taken place but on a different company, South Staffordshire plc, the parent company of South Staffs Water and Cambridge Water.
Attacks on healthcare organizations increase 90 percent
There has been a 90 percent increase in the number of healthcare organizations targeted by cyber-attacks, in comparison with the first quarter of 2022.
The latest cyber threat Landscape report from Kroll finds that while phishing continues to be the vector used for initial access, there has been a vast increase in external remote services (such as VPNs and RDP environments) being compromised, up 700 percent.
Stolen data used to launch more effective BEC attacks
New research from Accenture shows that data stolen in ransomware and other cyberattacks is being weaponized in order to carry out business email compromise (BEC) attacks.
Underground forums have sets of credentials for sale for as little as $10 that provide access to genuine corporate email accounts, making malicious emails seem genuine.
Small businesses often left hanging by ransomware scourge
Ransomware is hitting small businesses hard. But most of the legislation, regulations, and headlines focus on large businesses. The math is simple -- large businesses impact many end-users, and they have lots of money to pay lobbyists, so they wind up stealing the show when it comes to ransomware. But what about the local print shop, deli, or accounting office? Even though small businesses are suffering from ransomware 70 percent more often than large businesses (according to the Cyber Edge 2022 Cyberthreat Report), government regulations haven’t changed to accommodate them.
The U.S. Justice Department recently released a strategic plan that will investigate 65 percent of all reported ransomware attacks by 2023, but there are a few problems with this. First, the Justice Department -- or anyone else for that matter -- has no accurate accounting of how many attacks are actually occurring. Because so many attacks go unreported, there isn’t a way to certify how many ransomware attacks happen each year. Second, even if we assign credibility to 65 percent of ransomware cases, how can we or the government use this information effectively to reduce attacks? Finally, what about unreported ransomware attacks (which account for most of the attacks) on 44 percent of the U.S.’s economy: small businesses?
Ransomware contained in typosquat Python scripts
Researchers at Sonatype have identified multiple malicious Python packages that contain ransomware scripts.
The packages are named after a legitimate, widely known library called 'Requests', with names like 'requesys', 'requesrs' and 'requesr', in order to trick developers into installing the wrong version.
Ransomware uses malicious macros to infect target systems
A new study reveals that 87 percent of the ransomware found on the dark web can be delivered via malicious macros in order to infect targeted systems.
The research from Venafi, in partnership with criminal intelligence provider, Forensic Pathways, looked at 35 million dark web URLs and forums to uncover a thriving ransomware community with highly damaging macro-enabled strains readily available.
Why security teams should prepare to slay the three-headed dragon [Q&A]
Governments, utilities and other key industries are prime targets for attack including from nation state actors and cybercriminals seeking to extract a ransom.
But David Anteliz, technical director at Skybox, believes that given the increase in tensions across the world threat actors will evolve their tactics with the use of a 'three-headed dragon approach' that goes beyond the probing we have seen so far.
Ransomware and the places that worry about it most
Ransomware is predicted to cost businesses over $265 billion worldwide by 2031 according to Cybersecurity Ventures. New research from Ottowa-based managed services firm Firewall Technical has analyzed search data relating to ransomware attacks and come up with some interesting results.
Wannacry is the most searched for ransomware attack. With 6,830 related searches every month, the ransomware is still causing problems worldwide even though it was released back in 2017.
Businesses unprepared to deal with ransomware
Ransomware attacks continue to impact organizations worldwide with high costs, but businesses are still largely unprepared to deal with them.
New data from Arcserve shows half of IT decision makers surveyed by Dimensional Research have been targeted by ransomware, 35 percent report their organizations were asked to pay over $100,000 in ransom payments, and 20 percent were asked to pay between $1 million to $10 million.
Ransomware becomes increasingly professionalized
The world of ransomware is becoming increasingly professional and it’s easier than ever for new entrants to get into the business.
A new report from Tenable looks at the ransomware ecosystem and how it has become one of the biggest threats to organizations as well as being lucrative for the criminals behind it.
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