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 It may also spread through security vulnerabilities in outdated software or hardware and through removable media such as USB drives.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

Hairysquid Ransomware is a Mimic Variant Targeting Your Important Files screenshot

Hairysquid Ransomware is a Mimic Variant Targeting Your Important Files

Hairysquid is a type of ransomware that encrypts files and changes their file names by appending the ".Hairysquid" extension. It's a new variant of the Mimic ransomware and also generates a ransom note called... Read more

March 29, 2023
Skynet Ransomware is a MesudaLocker Clone That Negotiates A Ransom Payment screenshot

Skynet Ransomware is a MesudaLocker Clone That Negotiates A Ransom Payment

Skynet is a ransomware type that belongs to the MedusaLocker family, which our team of malware experts discovered while analyzing malware samples. Skynet aims to encrypt files on the targeted computer, adding the... Read more

March 28, 2023
Rans-A Ransomware is an Xorist Variant Seeking Files for Encryption screenshot

Rans-A Ransomware is an Xorist Variant Seeking Files for Encryption

During our analysis of malware samples, our team has identified a new type of ransomware known as Rans-A, which belongs to the Xorist family. This ransomware functions by encrypting files and then adding the extension... Read more

March 24, 2023
Tywd Ransomware Joins Djvu Clone Family to Extort PC User Victims screenshot

Tywd Ransomware Joins Djvu Clone Family to Extort PC User Victims

Tywd is a type of malicious software known as ransomware that encrypts files on a victim's computer and demands payment in return for decryption tools. Our team encountered Tywd while monitoring for new malware... Read more

March 22, 2023
DeathRansom Ransomware Asks for Weird Ransom screenshot

DeathRansom Ransomware Asks for Weird Ransom

During a routine check of new submissions to online threat databases, our team of researchers came across the DeathRansom ransomware, which belongs to the Chaos family of ransomware programs. Upon running a test... Read more

March 21, 2023
Dazx Ransomware Encrypts Victim Files screenshot

Dazx Ransomware Encrypts Victim Files

During our assessment of malware samples submitted to online threat databases, we identified Dazx, a new strain of ransomware that belongs to the Djvu family. The primary objective of Dazx is to encrypt files, and it... Read more

March 17, 2023
Sus Ransomware Demands Payment in Bitcoin to Restore Encrypted Back screenshot

Sus Ransomware Demands Payment in Bitcoin to Restore Encrypted Back

Our team recently discovered Sus ransomware while analyzing malware samples. We found that Sus is a variant of the Chaos ransomware, which encrypts data and changes the filenames of all encrypted files by appending... Read more

March 29, 2023
Jywd Ransomware Doubles Ransom Demand in Three Days screenshot

Jywd Ransomware Doubles Ransom Demand in Three Days

Our team came across Jywd, a variant of the Djvu ransomware family, while examining ransomware samples. Jywd encrypts data and adds the ".jywd" extension to the filenames of the affected files. In addition, Jywd... Read more

March 27, 2023
Typo Ransomware Will Scramble Your Files Despite Goofy Name screenshot

Typo Ransomware Will Scramble Your Files Despite Goofy Name

During a malware sample analysis, our team of experts discovered a new variant of ransomware called Typo, which is believed to be associated with the Djvu family of ransomware. Similar to other types of ransomware,... Read more

March 23, 2023
Tycx Ransomware Asks for $980 in Ransom Payment - Should You Pay or Not? screenshot

Tycx Ransomware Asks for $980 in Ransom Payment - Should You Pay or Not?

While examining malware samples newly submitted to online threat databases, our team identified a ransomware named Tycx. Upon further investigation, we discovered that Tycx is a member of the Djvu ransomware family... Read more

March 22, 2023
Basn Ransomware Asks for Ransom Payment in Crypto screenshot

Basn Ransomware Asks for Ransom Payment in Crypto

Our security experts identified the Basn malware while carrying out an analysis of new ransomware samples. This malicious program is a type of ransomware, which locks up data and requests payment for its restoration.... Read more

March 20, 2023
Dapo Ransomware Will Make Your Files Unreadable screenshot

Dapo Ransomware Will Make Your Files Unreadable

After examining malware samples, we discovered a new ransomware variant named Dapo. Further analysis revealed that Dapo belongs to the Djvu ransomware family, which is frequently associated with information stealers... Read more

March 17, 2023
Jyos Ransomware Doubles Ransom Demands in Three Days screenshot

Jyos Ransomware Doubles Ransom Demands in Three Days

While analyzing malware samples found online, we came across a new form of ransomware known as Jyos. After conducting further research, we discovered that Jyos belongs to the Djvu ransomware family and is primarily... Read more

March 28, 2023
Jypo Ransomware Will Lock Your Files & Demand Payment To Get Them Back screenshot

Jypo Ransomware Will Lock Your Files & Demand Payment To Get Them Back

Jypo is a type of ransomware that uses encryption to prevent victims from accessing their data, while also renaming files by appending its extension (".jypo") to the filenames. The ransomware is accompanied by a... Read more

March 27, 2023
Tyos Ransomware Joins Army of Djvu Clones Targeting Multiple Files for Encryption screenshot

Tyos Ransomware Joins Army of Djvu Clones Targeting Multiple Files for Encryption

Our analysis of Tyos has revealed that this malware functions as a ransomware by encrypting files and adding the ".tyos" extension to their filenames. The ransomware also generates a ransom note named "_readme.txt".... Read more

March 23, 2023
ExilenceTG Ransomware is a New Key Group Variant screenshot

ExilenceTG Ransomware is a New Key Group Variant

While analyzing malware samples, a new type of ransomware was discovered and named ExilenceTG by the researchers. The new variant is an offshoot of the Key Group ransomware. ExilenceTG encrypts files and adds the... Read more

March 21, 2023
Darj Ransomware Makes Computer Files Unreadable screenshot

Darj Ransomware Makes Computer Files Unreadable

Malware experts discovered Darj while they were examining malware samples that had been submitted to VirusTotal. This ransomware is a member of the Djvu family and it works by encrypting data and then adding the... Read more

March 20, 2023
BACKJOHN Ransomware Encrypts Victim Files screenshot

BACKJOHN Ransomware Encrypts Victim Files

During the analysis of malware samples, our researchers discovered BACKJOHN, a type of ransomware that belongs to the Phobos family. BACKJOHN operates by encrypting data, modifying filenames of encrypted files, and... Read more

March 16, 2023
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