Ransomware is leading the way in modern Security events. Ransomware is a type of malicious software that holds a victim’s data hostage until a ransom is paid. Instead of selling victims’ information on the black market, ransomware has established a way to make money off this stolen information directly from victims. The threat of ransomware is based on publishing personal data or blocking a victim’s online access to their own accounts.
Ransomware shows no sign of slowing down as the average ransom paid to cybercriminals by organizations that fall victim to these attacks has nearly tripled over the past year. Based on the analysis of more than 500 attacks and cyber threat intelligence activity, researchers estimate that the number of ransomware attacks grew by more than 150% in 2020.
The continued success of attacks has led to some ransomware gangs becoming extremely bold with demands. Before 2020, the highest ransom demand paid to cybercriminals stood at $5 million, but during the past year, that has doubled, with data in the report suggesting that one victim paid a ransom of $10 million to cyber criminals following a ransomware attack. The highest attempted ransom demand during 2020 stood at $30 million – double the previous highest attempted demand of $15 million in previous years.
Steps to take when you are under a Ransomware Attack
Best Practices to Defend against Ransomware
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