#MustKnow- Ransomware Attacks: Everything You Need to Know

 

 

 

 
 
 
 

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Learn everything there is to know about ransomware attacks. We cover the definition, statistics, and ransomware protection. 

Ransomware attacks are different from regular ransom attacks that leverage sensitive information, as they include malware that targets devices, and the ransom is usually demanded in cryptocurrency. 

How common are ransomware attacks, how does ransomware get onto your computer, and do you have protection against ransomware? Let's find out. 

What is a Ransomware Attack?  

Ransomware is a type of malicious software that can infiltrate your computer, encrypt data, and withhold it until you pay a ransom. The data that is locked until a ransom is paid can be that of a single device or an entire network. 

A victim of a ransomware attack, be it a company or an individual, has a specified period of time in which to pay the ransom or follow the instructions. If they do not comply, they risk losing access to their data for good. 

In exchange for payment of the ransom in a cryptocurrency (which is used for illegal cyber activities because it is more difficult to trace), hackers unlock the victim's data.  

Is that the case? 

Should You Pay the Ransom? 

No. You should contact local authorities who can take over, such as the CBI or give a complaint to police. They'll forward that to cyber crime department. 

Why? 

Paying the ransom may imply that you are funding criminal activity. 

So, why do the majority of people pay the ransom? 

There's a good chance you'll lose your data if you fall victim to ransomware. For businesses, this means that they may have to rebuild everything they've worked for from the ground up. 

Most businesses do not want their customers to learn about the attack. They may jeopardize their reputation if others learn of the hacking, and their customers may be hesitant to use their services again in the future. 

Ransomware attacks can also disrupt an organization's workflow. Organizations may be unable to function if hackers withhold data. 

Ransomware Attack Statistics 

 

According to research, 10% of breaches include ransomware. The targets of ransomware attacks are individuals, businesses, and even critical infrastructure sectors.  

 The Colonial Pipeline ransomware attacks that occurred last year were among the most widely reported attacks targeting critical infrastructure. However, the CIA claims that there were attacks on 14 out of 16 critical infrastructure.  

 The general conclusion from the CIA is that there has been an increase in ransomware attacks around the world.  

 Last year, the number of ransomware attacks doubled. The FBI reported on a staggering 2,084 ransomware complaints.  

 The increase in such cyber-attacks in recent years can be attributed to the widespread access to hacking methods and new vulnerabilities  caused by remote working.  

 Information on how to perform certain attacks is available on the Internet. This means that even inexperienced cyber-criminals can follow instructions and carry out malicious attacks.  

 To adapt to working remotely, companies had to adapt their systems to allow remote access. Since they had never used the system before, they had flaws in the system that caused many cyber breaches at the start of the pandemic. 

Ransomware Attack Starts with Access to Your Device 

Some of the ways malicious ransomware can find its way to your computer include:  

• Email phishing — if you click the link in the body of an email from an unknown sender or download a virus with the attachment 

• Adware — ads on the internet can contain malware and if you click it, you can download it onto your computer 

• High-risk website — by visiting an unsafe website, you can download malware on your device that encrypts your data 

Can You Protect Yourself from Ransomware Attacks?  

Yes. Since it’s a kind of malware, ransomware protection tools mitigate this type of attack as with any malicious virus that finds its way to your computer. They scan, detect, and remove it before it causes further damage.  

Some things you can do to protect your devices from ransomware attacks are: 

• Updating your software — outdated software, applications, or systems can create vulnerabilities for your systems and devices. 

• Having trustworthy anti-malware on your computer — antivirus software that can detect ransomware and other types of malwares is important for your cyber security.  

• Doing regular backups of your data — during malware attacks, the key leverage that hackers have over you is withholding the data. 

Older versions of applications and software can create security holes in your system because attacks are constantly changing and newer updated system versions are ready for attack methods. new work.  

 Backups of your data must be on an external hard drive so that you can access them even if you fall victim to a ransomware attack. 

Prevent Ransomware Attacks Before They Happen 

Most people think of ransomware when the attack has taken place. Their data is encrypted and they plan to pay a ransom to regain access to their information.  

 Paying the ransom also does not guarantee that you will never fall victim to this type of cyber-crime again.  

 If not remedied after the attack, the same hackers can exploit the same vulnerabilities they find in your system for ransom.  

 The time and money that businesses spend following attacks can be fatal for many businesses, especially if they are small businesses that do not expect to fall victim to such an attack...