Ransomware

What Is Ransomware?

Ransomware is a type of malware that takes control of an individual’s or organization’s computer files and networks. It does this by encrypting or locking the data and then demanding a ransom payment to unlock it, thus earning its name. This malicious software has been an increasing problem since the mid-2000s, with ransomware infections bringing companies and individuals to their knees. Today, ransomware has become a common cyber threat.

Cybercriminals typically distribute ransomware through phishing email attacks, malicious downloads, and malware-infected systems. It may also spread through security vulnerabilities in outdated software or hardware and through removable media such as USB drives.

Phishing attacks involve targeting individuals or organizations with malicious email attachments or links. When the link or attachment is opened, ransomware can be installed on the user’s computer.

Malicious downloads are files that have been maliciously altered or infected with malware and can infect a user’s computer when downloaded. Ransomware can also be installed on victims’ computers through systems already infected with malware.

In all cases, once the ransomware is installed, it will encrypt your files using strong encryption algorithms and demand a ransom payment for their return.

ransomware attack

Source: United Nations Office on Drugs and Crime

How Ransomware Has Evolved Over the Years

Ransomware originates in the AIDS Trojan and PC Cyborg viruses of 1989. The first known modern-day ransomware attack was the “PC Cyborg” virus in 1989. The malicious code was created by a graduate student and distributed on floppy disks via Usenet. It would encrypt the system’s hard drive, preventing access to files until a monetary payment was made.

While these early ransomware attacks were not as sophisticated as those seen today, they were still effective in extorting victims. Since then, we’ve seen various iterations of ransomware become more and more malicious and difficult to detect with traditional antivirus solutions.

In the mid-2000s, ransomware began to appear as a form of “malware as a service” (MaaS). MaaS allowed malicious actors to purchase access to an online platform where they could construct and distribute their own custom ransomware. This led to the development of more complex forms of ransomware like CryptoLocker, which was responsible for over $3 million in losses.

Today, ransomware is used by threat actors to target individuals, businesses, and even government organizations. Cybercriminals will use various methods, such as social engineering or exploit kits, to gain access to sensitive systems or data. Once they have gained access, they are able to deploy their malware, which then encrypts all of the data on the system, rendering it inaccessible. As a result, victims are typically displayed a ransom note that urges them to pay a ransom in return for access to their data.

In response to this growing threat, governments and organizations have been working to develop better solutions for detecting and defending against ransomware attacks. However, due to its constantly shifting nature, ransomware remains a major threat to organizations of all sizes.

What You Need to Know: Prominent Types of Ransomware Attacks

Notable examples of ransomware attacks include WannaCry (2017), Petya/NotPetya (2017), TeslaCrypt (2015–2016), and CryptoWall (2014–2016). In 2017, the WannaCry ransomware spread quickly worldwide and affected over 200,000 computers in 150 countries. In 2016, CryptoWall infected more than 625,000 systems in the US alone. Petya/NotPetya, another ransomware attack that occurred in 2017, affected many major international companies, including FedEx and Maersk.

In addition to disrupting normal operations, ransomware attacks often cause financial losses. TeslaCrypt, for example, was estimated to have caused a total of $1 billion in damages by encrypting the data within victims’ computers and demanding payment of Bitcoins in exchange for decryption keys. CryptoWall also caused significant financial losses — it is estimated that more than $1 billion was lost in the attack.

According to a report by Cybersecurity Ventures, by 2021, ransomware damages had cost businesses around $20 billion annually. The increase in damage costs is attributed to the growing ransomware sophistication and its ability to penetrate any system regardless of geography or sector. Additionally, according to a report by Kaspersky Lab, more than 57.4 million users have been attacked with ransomware since the start of 2017.

Additionally, in 2021, the Colonial Pipeline ransomware attack became one of the most prominent examples of ransomware attacks to date. The attack began in late April and resulted in the disruption of fuel supplies all across the Eastern United States. Over 5,500 miles of pipeline were affected, leading to major shortages and price hikes at gas stations. The attacker responsible for the attack, DarkSide, is a Russian-based group that has been linked to numerous other ransomware attacks.

The Colonial Pipeline ransomware attack has had a significant financial impact. It is estimated that the total costs associated with the attack could reach $3 billion. This includes losses from the pipeline shutdown, disruption to businesses, and costs associated with restoring systems to their former state. Some experts also speculate that these costs could be much greater and exceed $5 billion.

ransomware attack statistics

Source: World Economic Forum

How to Protect Yourself from Ransomware

Ransomware attacks have become common due to a number of factors, including the proliferation of ransomware-as-a-service offerings on darknet markets, the increasing use of cryptocurrency payments, and the ability to launch sophisticated campaigns involving multiple malware strains.

The most common ransomware targets are businesses and individuals who are not very good at computer security. Businesses that do not update their software and hardware do not employ antivirus software, open suspicious links or attachments, download files from untrusted websites, or use insecure networks are more likely to be targeted by this type of malware attack.

The best way to protect yourself from ransomware is to increase your overall security posture through a combination of education, prevention, and response strategies. Education should focus on teaching users how to recognize the signs of a ransomware attack and what to do if they suspect they have been targeted. Prevention is key in stopping ransomware attacks and includes:

  • Using up-to-date software.
  • Enabling two-factor authentication when possible.
  • Creating copies of backup files regularly.
  • Practicing good cyber hygiene.
  • Remaining vigilant and aware of common ransomware attack vectors.
  • NOT PAYING the ransom demanded by cybercriminals.
  • Seeking a security expert assistance if infected.

In other words, responding to a ransomware attack quickly and effectively is essential in minimizing damage and recovering stolen data.

By following these guidelines, individuals and organizations can help protect themselves against the damaging effects of ransomware attacks. With proper education and prevention strategies, users can significantly reduce their risk of becoming ransomware victims.

Ransomware List

THRSX Ransomware: : A Stealthy Threat with High Stakes screenshot

THRSX Ransomware: : A Stealthy Threat with High Stakes

What Is THRSX Ransomware? THRSX is a ransomware strain that encrypts files and demands payment for their release. Like many other ransomware variants, THRSX changes the names of the encrypted files by appending a... Read more

June 27, 2025
Anubis RaaS Malware: The Double-Edged Threat in the Cybercrime Underworld screenshot

Anubis RaaS Malware: The Double-Edged Threat in the Cybercrime Underworld

A Different Breed of Digital Menace A ransomware strain known as Anubis is making waves across the cybersecurity landscape for its rare and dangerous combination of encryption and file destruction functionalities.... Read more

June 17, 2025
How ZV Ransomware Holds Your Data Hostage screenshot

How ZV Ransomware Holds Your Data Hostage

Unveiling ZV Ransomware Another threat has emerged from the depths of the Dharma ransomware family—ZV Ransomware. ZV is a file-encrypting malware that hijacks a victim's files and demands payment in return for access.... Read more

June 11, 2025
Ololo Ransomware: Another Member From the MedusaLocker Family screenshot

Ololo Ransomware: Another Member From the MedusaLocker Family

What is Ololo Ransomware? Ololo Ransomware is a strain of malicious software that belongs to the MedusaLocker ransomware family. It is a group known for aggressively encrypting victims' files and asking for ransom... Read more

June 6, 2025
SparkLocker Ransomware Will Keep You Out screenshot

SparkLocker Ransomware Will Keep You Out

What Is SparkLocker Ransomware? SparkLocker is ransomware—malicious software designed to block access to your data until a payment is made. This ransomware locks users out of their files by encrypting them and then... Read more

June 3, 2025
Asulo Ransomware: The Digital Thief Holding Your Files Hostage screenshot

Asulo Ransomware: The Digital Thief Holding Your Files Hostage

What is Asulo Ransomware? Asulo is a strain of ransomware that belongs to the notorious Xorist ransomware family, known for encrypting victims' files and asking for ransom payments in exchange for decryption. Asulo's... Read more

May 29, 2025
Locked and Loaded: What Does AMERILIFE Ransomware Want screenshot

Locked and Loaded: What Does AMERILIFE Ransomware Want

A New Name in File Locking AMERILIFE ransomware is a threat that encrypts victims' data and demands payment in exchange for a decryption key. The ransomware appends a unique ".ameriwasted" extension to every file it... Read more

June 18, 2025
Backups Ransomware Is a Silent Thief screenshot

Backups Ransomware Is a Silent Thief

What Is Backups Ransomware? Backups Ransomware is a recently identified form of malicious software designed to lock users out of their files. This strain of ransomware encrypts a victim's data and alters file names by... Read more

June 13, 2025
SafeLocker Ransomware Is The Opposite Of Safe screenshot

SafeLocker Ransomware Is The Opposite Of Safe

A Digital Lock on Your Life SafeLocker is a ransomware program designed to encrypt a victim's personal data and demand payment for its release. This dangerous software poses a serious risk to individuals and... Read more

June 10, 2025
CyberVolk BlackEye Ransomware Blackmails Its Victims screenshot

CyberVolk BlackEye Ransomware Blackmails Its Victims

Understanding CyberVolk BlackEye Ransomware CyberVolk BlackEye is another ransomware variant that poses a serious threat to data security. Like most ransomware, it operates by encrypting files on the victim's... Read more

June 6, 2025
Zen Ransomware Is a Real Digital Threat screenshot

Zen Ransomware Is a Real Digital Threat

What is Zen Ransomware? Zen ransomware is a malicious program that belongs to the infamous Dharma ransomware family. Zen operates like other ransomware, encrypting files on the infected computer and appending a unique... Read more

June 2, 2025
What Does The DEVMAN Ransomware Want? screenshot

What Does The DEVMAN Ransomware Want?

Another Player in the Ransomware Scene DEVMAN ransomware is the latest addition to the growing list of cyber threats that target unsuspecting individuals and businesses alike. Once it finds its way into a system,... Read more

May 28, 2025
DarkHack Ransomware: A Stealthy Strike on Your Files screenshot

DarkHack Ransomware: A Stealthy Strike on Your Files

What Is DarkHack Ransomware? A ransomware variant known as DarkHack has recently come to light. This strain of ransomware operates with a familiar but effective playbook: it encrypts the victim's data and asks for a... Read more

June 17, 2025
Puld Ransomware Is Another Nuisance From the MedusaLocker Family screenshot

Puld Ransomware Is Another Nuisance From the MedusaLocker Family

A New Menace Emerges There's a strain of ransomware known as Puld. This malicious software is part of the MedusaLocker ransomware family—a well-known group of ransomware programs infamous for data encryption and... Read more

June 12, 2025
Helper Ransomware: A Silent Intruder With a Price Tag screenshot

Helper Ransomware: A Silent Intruder With a Price Tag

What Is Helper Ransomware? Helper is a form of ransomware—a type of malicious software that locks files and requires payment for their release. This strain encrypts files on a victim's system and leaves behind a... Read more

June 9, 2025
Veluth Ransomware: A Silent Predator in the Digital Jungle screenshot

Veluth Ransomware: A Silent Predator in the Digital Jungle

Another Threat Emerges Veluth Ransomware is another form of malware that joins the growing list of cyber threats targeting both individuals and organizations. Veluth fits the classic ransomware mold: it encrypts... Read more

June 3, 2025
Smile Ransomware Is Yet Another Sinister Encryption Attack screenshot

Smile Ransomware Is Yet Another Sinister Encryption Attack

The Discovery of Smile Ransomware New forms of malicious software appear regularly. One such example is the Smile ransomware, which is designed to encrypt victims' files, rendering them inaccessible, while demanding a... Read more

May 30, 2025
StarFire Ransomware Threatens the Cyberworld screenshot

StarFire Ransomware Threatens the Cyberworld

What is StarFire Ransomware? StarFire ransomware is another addition to the ever-growing list of malicious software that targets individuals and organizations by encrypting their files. This malware takes control of... Read more

May 27, 2025
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