Don't let cybercriminals hold your data hostage! Protect yourself with proactive security measures and stay one step ahead of the digital extortion game.
Don't let cybercriminals hold your data hostage! Protect yourself with proactive security measures and stay one step ahead of the digital extortion game.
If malware like ransomware gets into your computer, it might lock your computer or hide your files. Ransomware asks for money to free your files. If you keep things tidy on your computer, it can help stop bad software. Also, good security software and paying attention can stop viruses.
To keep from paying lots of money to fix your computer, use special software to stop ransomware. Ransomware spreads in many ways, like when you download software, get spam emails, or visit fake websites. Anyone can be a target of ransomware, whether you’re a person or a big company.
Malware known as ‘ransomware’ uses encryption to extort a victim’s data. Critical data for a user or organization is encrypted to prevent access to files, databases, or applications, and then a ransom is demanded to unlock the system. Ransomware attacks can make a whole company stop working fast because it spreads through networks and messes up files. It’s a big problem that costs a lot of money and hurts many people and businesses.
To learn more about ransomware prevention and protection strategies in 2024, one must understand precisely what is ransomware. So let’s get started!
Ransomware often comes in two varieties. The most prevalent kind, often known as crypto ransomware or encrypting ransomware, encrypts the victim’s data and holds it captive. After that, the attacker offers to provide the encryption key required to decrypt the data in return for a ransom.
The following subcategories can be created from these two types:
Yes, ransomware is a type of malware. Ransomware is a malicious software that encrypts a victim’s data, files, or devices, making them inaccessible until the attacker receives a ransom payment. In many cases, the ransom demand comes with a deadline.
Attacks using ransomware are becoming all too common. Both in North America and Europe, it has affected major corporations. Cybercriminals target customers and businesses across all sectors.
Some ransomware variants have focused on data theft, abandoning data encryption entirely. This is because encryption can be time-consuming and easily detectable, providing an organization with an opportunity to terminate the infection and protect some files from encryption.
An asymmetric encryption is used by ransomware. This type of cryptography encrypts and decrypts files using a pair of keys.
The attacker creates a unique public-private key pair for the victim, and the private key is used to decrypt files that are kept on the attacker’s server. The victim can only obtain the private key from the attacker if the ransom is paid, albeit this isn’t always the case, as evidenced by recent ransomware campaigns. Decrypting the files that are being held ransom is almost impossible without the private key.
Ransomware comes in a variety of forms. Ransomware and other malware are frequently disseminated through targeted attacks or email spam operations.
For malware to become established on an endpoint, it requires an attack vector. Malware remains on the system until its purpose is completed after its existence has been established.
Ransomware drops and runs a malicious payload on the compromised system following a successful exploit. After that, this program finds and encrypts important files, including databases, pictures, Word documents created in Microsoft Word, and more. Additionally, the ransomware might use network and system flaws to propagate to other systems and potentially throughout entire companies.
Ransomware encrypts files and then demands payment of a ransom within 24 to 48 hours in order to unlock the contents; else, the files would be permanently lost. The victim must pay the ransom to restore personal files if there is no data backup or if the backups were encrypted.
The median ransomware version can encrypt and prevent a victim from accessing 100,000 of their files in 42 minutes and 54 seconds.
The information originated from the SURGe team at Splunk, which examined in its laboratory the speed at which the top 10 ransomware strains—Lockbit, REvil, Blackmatter, Conti, Ryuk, Avaddon, Babuk, Darkside, Maize, and Mespinoza—could encrypt 100,000 files totaling approximately 53.93 gigabytes of data. With speeds 86% quicker than the median, Lockbit emerged victorious in the event. It was measured that one Lockbit sample could encrypt 25,000 files per minute.
These are the steps that a ransomware assault usually goes through.
Stage 1: First access
Phishing and exploiting vulnerabilities remain the most popular entry points for ransomware attacks.
Stage 2: After the exploitation
Before gaining interactive access, this second step could entail malware or an intermediary remote access tool (RAT), depending on the original access vector.
Stage 3: Understand and expand
Hackers concentrate on comprehending the local system and domain that they currently have access to during this third stage of the attack. Additionally, the attackers strive to enter other domains and systems (a tactic known as lateral migration).
Stage 4: Data collection and exfiltration
At this point, the operators of the ransomware shift their attention to locating important data and exfiltration (stealing) it, usually by exporting or downloading a duplicate for themselves. Attackers may steal whatever information they can get their hands on, but they typically concentrate on particularly valuable information that they can use for double-extortion, such as login credentials, consumer personal information, and intellectual property.
Stage 5: Deployment and sending the note
File recognition and encryption are initiated by crypto ransomware. To put more pressure on the victim to pay for the decryption key, some crypto ransomware also disables system restore functions and erases or encrypts backups on the victim’s computer or network. Non-encrypting ransomware stops the victim from using the device in various ways, such as by locking the screen or bombarding it with pop-up advertisements.
The ransomware notifies the victim of the infection once files have been encrypted or the device has been rendered inoperable. This alert typically appears as a pop-up window or a.txt file placed on the desktop of the machine. Instructions on how to pay the ransom—typically in cryptocurrency or another similarly untraceable form—are included in the ransom note. A decryption key or the return of regular activities are exchanged for payment.
More than 130 distinct active ransomware families or variants—unique ransomware strains with their own code signatures and functions—have been found by cybersecurity experts since 2020.
Numerous ransomware variations have been around for a while. A few strains stand out in particular due to the amount of damage they caused, the way they impacted the evolution of ransomware, or the threats they continue to represent.
CryptoLocker, which debuted in September 2013, is commonly recognized for having initiated the current era of ransomware. One of the earliest kinds of ransomware to heavily encrypt user files was CryptoLocker, which spread via a botnet—a network of compromised machines. Before being shut down in 2014 by an international law enforcement operation, it was estimated to have extorted USD 3 million. Because of CryptoLocker’s popularity, several imitators emerged and made way for variations like Ryuk, WannaCry, and Petya.
The first well-known example of cryptoworming—ransomware that can infect further machines connected to a network. More than 200,000 computers in 150 countries were targeted by WannaCry. Administrators had failed to apply a patch for the Microsoft Windows vulnerability known as EternalBlue, which left the impacted PCs unprotected. WannaCry ransomware not only encrypted private information but also threatened to destroy files if money wasn’t received in seven days. Estimated expenses for the ransomware assault could reach up to USD 4 billion, making it one of the biggest to date.
Petya encrypts the file system table instead of individual files, which prevents Windows from booting on the infected machine, in contrast to other crypto ransomware. In 2017, a significant cyberattack, mostly targeting Ukraine, was carried out using a significantly altered variant of the virus called NotPetya.
In 2018, Ryuk became well-known for his “big-game ransomware” assaults, which targeted specific high-value targets and demanded ransoms exceeding one million dollars on average. Ryuk is capable of locating backup files and disabling system recovery functions; in 2021, a new strain was found that possessed cryptoworm capabilities.
DarkSide is the name of the ransomware strain that targeted the U.S. Colonial Pipeline on May 7, 2021. It is believed to be operated by a group based in Russia. This version is thought to be the worst cyberattack on vital American infrastructure ever. Consequently, the pipeline that provided 4/5 of the petroleum for the U.S. East Coast was temporarily closed. The DarkSide organization not only conducts direct attacks but also uses RaaS agreements to license its ransomware to affiliates.
A unique way of infection for the encrypting ransomware Locky is via macros buried in email attachments (Microsoft Word files) that appear to be authentic bills. Malicious macros covertly transfer the ransomware payload to the user’s device when they download and open a Microsoft Word document.
The RaaS method of ransomware propagation gained popularity thanks to REvil, also known as Sodin or Sodinokibi. REvil, well-known for his usage in double-extortion and big-game hunting, was the mastermind of the 2021 assaults against the notable companies Kaseya Limited and JBS USA. Following the disruption of its whole U.S. beef processing operation and the severe delay experienced by over 1,000 Kaseya software clients, JBS was forced to pay a ransom of USD 11 million. Early in 2022, the Russian Federal Security Service said that it had destroyed REvil and charged a number of its members.
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The majority of ransomware victims complied with their attackers’ demands until 2022. In IBM’s Cyber Resilient Organization
research 2021, for instance, 61 percent of the participating organizations reported paying a ransom to recover from a ransomware assault that occurred within two years of the research.
Considering the potential duration of recovery, succumbing to a ransom demand might seem tempting, yet it’s a perilous choice for various reasons. Firstly, securing a decryption key can prove elusive;
While payment is supposed to prompt its delivery, there’s no guarantee of the perpetrators’ honesty. Many victims have paid hefty sums only to receive no compensation, leaving them to rebuild systems from scratch, enduring financial losses in the tens or even millions of dollars.
Additionally, yielding to ransom demands can inadvertently mark an organization as a lucrative target, potentially inviting future attacks or attracting other cybercriminals to exploit perceived vulnerabilities. Even if restitution is eventually achieved, it perpetuates illegal activity and contributes to the proliferation of ransomware schemes. Thus, while the allure of a quick fix may be strong, the long-term consequences of capitulating to ransom demands far outweigh any immediate relief.
Respond swiftly if you think you’ve been the victim of a ransomware assault. Thankfully, there are a few actions you can do to increase your chances of reducing harm and getting back to business as usual as soon as feasible.
Isolate the infected device: A single-device ransomware attack is a little annoyance. Allowing ransomware to take over every device in your company is a serious disaster that could permanently shut you down. Reaction time is typically the deciding factor between the two.
Disconnecting the compromised device from the network, internet, and other devices as soon as possible is crucial for the security of your shared files, network, and other devices.
Stop the spread: Immediate isolation of the compromised device won’t ensure that the ransomware doesn’t exist elsewhere on your network because ransomware spreads quickly and the infected device isn’t always Patient Zero. You must disconnect any suspicious-behaving devices from the network, even those that are off-premises, in order to effectively limit its reach. Once a device is linked to the network, it poses a risk wherever it is. It’s also a good idea to turn off wireless connectivity (Bluetooth, Wi-Fi, etc.) at this time.
Evaluate the damage: Search for recently encrypted files with unusual file extensions, and look for reports of strange file names or people experiencing problems accessing files in order to identify which devices have been compromised. To assist confine the attack, stop additional harm and data loss, and isolate any devices that you find that haven’t been fully encrypted, switch them off.
Including network storage devices, cloud storage, external hard drive storage (including USB thumb drives), laptops, smartphones, and any other potential vectors, your objective is to compile an exhaustive inventory of all impacted systems. It is wise to lock shares at this time. If it’s not feasible to restrict all of them, then try to restrict as many as you can.
In addition to stopping any active encryption operations, doing this will prevent further shares from becoming affected while repair takes place. However, you should first check at the encrypted shares before moving forward. By doing this, you may obtain this helpful information: It’s possible that you’ve just located your Patient Zero if one of your devices has significantly more open files than normal. If not…
Find Patient Zero: Once the source of the virus has been determined, tracking it becomes much simpler. Check for any alerts from EDR, your antivirus/antimalware program, or any other active monitoring platform in order to accomplish this. Inquiring about people’s activities, such as opening strange emails, and what they’ve noticed might also be helpful, as the majority of ransomware infiltrates networks through malicious email links and attachments that demand user action.
The individual named as the owner is probably the access point, thus looking at the attributes of the files themselves can also reveal information. (Remember that there may be more than one Patient Zero, though!)
Determine the ransomware: It’s critical to ascertain the specific ransomware version you are dealing with before proceeding. All you have to do is submit an encrypted file, and it will search for matches. The following details are also applicable, as stated in the ransom note: Searching for the email address or the note itself using a search engine can be helpful if it doesn’t specifically mention the ransomware type. You should notify all unaffected staff as soon as you’ve located the ransomware and done a little investigation into its behavior so they can recognize the telltale indications of infection.
Notify the authorities about the ransomware: You should get in touch with law enforcement as soon as the ransomware is contained for a number of reasons. Ransomware is illegal, to start with, and it should be reported to the appropriate authorities just like any other crime. Second, “Law enforcement may be able to use legal authorities and tools that are unavailable to most organizations,” as stated by the US Federal Bureau of Investigation. Collaborations with global law enforcement can be utilized to locate pilfered or encrypted data and apprehend those responsible. Lastly, the attack could have an impact on compliance: According to the GDPR, your company may face severe fines if you fail to notify the ICO of a breach involving the personal data of EU citizens within 72 hours.
Assess your backups: It’s time to start the reaction procedure at this point. Restoring your systems from a backup is the quickest and most straightforward way to accomplish this. Ideally, you will have a full, uncontaminated backup that was made recently enough to be useful. If this is the case, you should use an antivirus or antimalware program to make sure that all compromised devices and systems are cleaned of ransomware.
If not, the malware will keep locking your computer and encrypting your information, which could damage your backup. You can restore your systems from this backup once all malware has been removed, and once you’ve verified that all data has been restored and all applications and processes are operating normally again, you can resume your regular operations.
Unfortunately, until they are needed and unavailable, many organizations fail to see the need of maintaining and making backups. Due to the increasing sophistication and resilience of current ransomware, some people who do make backups quickly discover that the ransomware has also corrupted or encrypted them, making them utterly unusable.
Examine your decryption options: in the event that you are unable to retrieve your data from a backup, there is still hope. At No More Ransom, there are an increasing number of free decryption keys available. You should be able to unlock your data using the decryption key if one is available for the type of ransomware you are dealing with (and presuming you have removed all malware from your machine by now). You still have to expect hours or days of downtime while you work on remediation, even if you’re lucky enough to find a decryptor.
Proceed: Regretfully, you might have to erase everything and start over if you don’t have any working backups or a decryption key. It’s the last resort after all other choices have been exhausted, therefore rebuilding won’t be an easy or cheap procedure.
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Prevent business continuity disruptions caused by ransomware and promptly recover from attacks by implementing a zero trust strategy. By using this method, you can lessen the impact of ransomware attacks and identify and respond to them more quickly.
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Drive-by downloads and phishing emails with infected files are two common ways that ransomware spreads. Drive-by downloading is the process by which malware is downloaded and installed without the user’s knowledge when they inadvertently visit an infected website.
Drive-by downloads and phishing emails with infected files are two common ways that ransomware spreads. Drive-by downloading is the process by which malware is downloaded and installed without the user’s knowledge when they inadvertently visit an infected website.
Yes, antivirus software can detect ransomware, especially less sophisticated types of ransomware. However, antivirus software can’t prevent all ransomware attacks because it’s based on a database of known ransomware strains that’s updated regularly. Additionally, new strains of ransomware are created frequently, making it difficult for antivirus software to keep up.
No, a VPN (Virtual Private Network) alone cannot protect you from ransomware. Ransomware is often spread by tricking people into downloading it, such as through spam emails or providing something people want for free. VPNs do not restrict what you download, so they don’t prevent this from occurring.
Both people and businesses continue to have serious concerns about the threat posed by ransomware. Attacks with ransomware have the power to lock down systems, encrypt important information, and demand large ransom payments, all of which can seriously impair business operations and finances. The progression of ransomware variations highlights the versatility and tenacity of hackers, as they go from encrypting files to posing a risk of data breaches and erasing data.
A multifaceted strategy is needed to prevent ransomware, including upholding appropriate cyber hygiene standards, such as updating systems and steering clear of dubious emails and websites. Using strong security software and maintaining vigilance can assist in identifying and reducing any risks before they materialize into full-fledged assaults. Further strengthening defenses against ransomware intrusions is the implementation of a zero-trust approach and the purchase of specific ransomware protection solutions.
Enhancing resistance against ransomware threats can be achieved through collaborating with law enforcement agencies, utilizing incident response services, and implementing advanced cybersecurity solutions. In today’s digital environment, people and organizations may strengthen their defenses against the ubiquitous and constantly-evolving threat of ransomware by taking a proactive approach and putting in place robust security measures.
