How to Save yourself from the next attack

Ransomware attacks have increased in frequency and sophistication in recent years, significantly impacting numerous industries and sectors worldwide. A typical ransomware attack encrypts a computer system, blocks a user’s or a company’s access to their own data, and demands a ransom to unlock it. In this blog, we take a look at ransomware attacks on the rise in different parts of the world and learn more about how these attacks are spreading so quickly. You will also learn what you can do to reduce the devastating effects of ransomware attacks.

How do ransomware attacks propagate?

Ransomware usually spreads through various infection methods, such as:

1. Phishing Email: Phishing emails are a common way ransomware spreads because they are designed to trick recipients into downloading attachments or clicking links. By doing this, they unknowingly download malware that infects their computers and starts spreading.
2. Malicious websites and malvertising: Cybercriminals use malicious websites and online advertisements to spread ransomware by exploiting flaws in web browsers and other software. When an unsuspecting user clicks on one of these ads or websites, the system gets infected and starts distributing ransomware.
3. Drive-by download: A drive-by download is when a user accesses a compromised website and downloads and installs ransomware without the user’s knowledge.
4. Exploit Kit: These are toolkits that attackers use to find and exploit software flaws to install malware. It can be used to spread ransomware.
5. Remote Desktop Protocol (RDP) attacks: RDP attacks occur when hackers use stolen or forged credentials to gain remote access to a network and deploy ransomware to multiple devices at once.
6. USB drive: Infected USB drives installed on your computer can instantly install ransomware.
7. Social Engineering Attack: Attackers use social engineering techniques to trick people into downloading and installing ransomware. For example, an attacker could entice customers into downloading a fake update that pretends to be a reputable software vendor and actually contains ransomware.

Global effect:

There have been many high-profile ransomware attacks in recent years. Here are some examples.

1. Colonial Pipeline: A May 2021 ransomware attack targeted Colonial pipelines that fuel much of the eastern United States. An attacker believed to be a member of the Dark Side ransomware group requested a $4.4 million bitcoin ransom. The assault resulted in widespread fuel shortages and rising fuel prices.
2. A large cooperative bank in India: A targeted ransomware attack in 2018 resulted in the theft of around $13 million from one of India’s largest cooperative banks. A hacker group operating in Canada has been charged with carrying out the attack.
3. Wipro: In 2019, a ransomware attack targeting Wipro client systems resulted in system errors. The North Korean hacker group Lazarus has been accused of carrying out the attack.
4. Maharashtra Bank: A ransomware attack in 2018 encrypted the data of a bank in Maharashtra. The attackers demanded a Bitcoin ransom in exchange for the decryption key.
5. JBS: JBS, the world’s largest meat supplier, suffered a ransomware attack in June 2021, halting meat production and supply in Australia and North America. An attacker believed to be a member of the REvil ransomware group requested a $11 million Bitcoin ransom.
6. Kaseya: A ransomware attack targeting Kaseya VSA software in July 2021 affected more than 1,500 businesses worldwide. The attackers, believed to be part of the REvil ransomware group, demanded a ransom of $70 million in Bitcoin.
7. Acer: In March 2021, a ransomware attack on Taiwanese computer maker Acer demanded a ransom of $50 million. The attackers, believed to be members of the REvil ransomware group, gained access to confidential business information and threatened to disclose it unless a ransom was paid.
8. Toshiba: In May 2021, a ransomware attack affecting Japanese electronics maker Toshiba’s European operations resulted in a $34 million ransom demand.

Impact on critical infrastructure:

Critical services such as healthcare, transportation and energy are often targeted by ransomware attacks, which can cause service disruptions and devastating consequences. The healthcare industry is particularly vulnerable to ransomware attacks as hospitals and other healthcare facilities need quick access to patient data to provide life-saving treatment. These attacks have the potential to cause injury, death, and huge financial costs. In short, ransomware attacks have great potential to affect the world in terms of financial loss and disruption of essential infrastructure and services. Here are some examples of the global effects of ransomware.

1. Financial loss: Both individuals and businesses can suffer significant financial losses as a result of ransomware attacks. Sometimes victims are required to pay substantial sums to recover their systems or data, and even then there is no guarantee that the attackers will give them access again.
2. Critical Service Disruptions: Ransomware attacks have the ability to disrupt critical services such as healthcare, transportation, and energy, causing widespread disruption and even endangering lives.
3. Data theft and invasion of privacy: Confidential data or information of a financial and personal nature is a target for ransomware attacks. It can often lead to identity theft and other forms of deception that can cause serious harm to people and businesses.
4. Global Impact: Ransomware attacks can have significant global impact because they can quickly spread through networks in multiple countries and infect systems. This can make it difficult for law enforcement and security agencies to find perpetrators and prevent further harm.
5. Loss of reputation: Attacks using ransomware can harm the image of both individuals and organizations, especially if data or systems cannot be restored and the public must be informed about an attack that has taken place.

What can be done to defend against ransomware attacks?

To protect your personal and corporate data from being encrypted and held hostage by cybercriminals, you need to protect your system from ransomware attacks. Here are some important steps you can take to protect yourself from these malware attacks.
One. Keep your software up to date: Make sure all software you use, including your operating system, online browser, antivirus program, and any applications installed on your system have the latest security updates and patches installed. Ransomware is often installed on computers with vulnerable and outdated software.
2. Use strong passwords: Use a strong password and two-factor authentication to prevent your account from being hacked. Do not use easy-to-guess passwords such as “password” or “123456”.
three. Use antivirus software: Install antivirus software and keep it up to date to identify and stop ransomware threats.
4. Data backup: Important data should be regularly backed up to an external hard drive or cloud storage platform. Ideally, this backup should be protected by storing it on an independent network or other server. If ransomware encrypts your data, you can retrieve your data from this backup.
5. Be wary of email attachments and links. Do not click on links or open email attachments from unverified or questionable sources. Phishing emails are a common tactic used by cybercriminals to trick victims into downloading malware or divulging login information.
6. Restrict access to sensitive data: Access to sensitive information should be limited to those who need it. This reduces the chance of a ransomware attack spreading to your important files and folders.
7. Educate yourself and your staff. Stay informed about ransomware and keep your staff updated. Educate yourself on how to detect and prevent such attacks. Employees should be properly trained in safe computing procedures, such as minimizing the threat of ransomware by not clicking on dubious sites or downloading unknown files.

conclusion:

Attacks using ransomware are evolving rapidly and have the potential to significantly impact many industries worldwide. However, we can mitigate the impact of these attacks and reduce their occurrence by being aware of propagation techniques and taking strong cybersecurity measures. As cyber threats continue to increase, it is important to be aware and proactive on our part.

Subject matter experts:

Mangesh Basme