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 It may also spread through security vulnerabilities in outdated software or hardware and through removable media such as USB drives.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

What is CiphBit Ransomware? screenshot

What is CiphBit Ransomware?

In the dark and treacherous world of cyber threats, CiphBit emerges as a formidable adversary. This malicious software, classified as ransomware, operates with a singular and sinister purpose: to encrypt your precious... Read more

September 22, 2023
B-Panther Ransomware Addresses Victims in Portuguese screenshot

B-Panther Ransomware Addresses Victims in Portuguese

B-Panther is a type of ransomware that came to our attention during our examination of new file submissions. B-Panther belongs to the Xorist ransomware family. This malicious software encrypts files and demands a... Read more

September 20, 2023
Nnll Ransomware Encrypts Most Files screenshot

Nnll Ransomware Encrypts Most Files

We came across the Nnll ransomware variant while examining recent file sample submissions. Ransomware functions by encrypting data and then demanding a ransom for its decryption. When the Nnll ransomware executes, it... Read more

September 19, 2023
AnonTsugumi Ransomware Demands Bitcoin Payment screenshot

AnonTsugumi Ransomware Demands Bitcoin Payment

AnonTsugumi is the name of a malicious application that functions as ransomware. This malicious software encrypts files, adds the ".anontsugumi" extension to the filenames of the files it encrypts, alters the desktop... Read more

September 18, 2023
Lqepjhgjczo Ransomware Threatens to Publish Stolen Information screenshot

Lqepjhgjczo Ransomware Threatens to Publish Stolen Information

The malicious Lqepjhgjczo software is a member of the Snatch ransomware family and has been crafted to encrypt files, demanding payment in exchange for their decryption. Lqepjhgjczo, when loaded on a PC, may... Read more

September 15, 2023
Oopl Ransomware Encrypts Victim Files screenshot

Oopl Ransomware Encrypts Victim Files

While analyzing malware samples, we encountered a type of ransomware called Oopl. This particular ransomware is designed to encrypt files and modify their file names by adding the ".oopl" extension to them.... Read more

September 13, 2023
What is Days Locker Ransomware screenshot

What is Days Locker Ransomware

Days Locker is a malicious program that falls under the category of ransomware, a type of malware notorious for encrypting files and demanding ransoms for decryption. This insidious software is designed to infiltrate... Read more

September 22, 2023
Wwza Ransomware Locks Victim Systems screenshot

Wwza Ransomware Locks Victim Systems

During our analysis of malware samples, we came across the Wwza ransomware, which is a part of the Djvu ransomware family. When this ransomware infiltrates a computer, it encrypts data and appends the ".wwza"... Read more

September 20, 2023
Wwty Ransomware Demands $980 in Payment screenshot

Wwty Ransomware Demands $980 in Payment

A new ransomware variant known as Wwty was discovered in late 2023. Wwty functions by encrypting files and altering their filenames by adding the ".wwty" extension. Additionally, Wwty is designed to generate a text... Read more

September 18, 2023
Elibe Ransomware Lists No Ransom Demands screenshot

Elibe Ransomware Lists No Ransom Demands

The Elibe ransomware has a primary purpose to encrypt data and then demand a ransom in exchange for the decryption key. The Elibe ransomware may encrypted files and modified their filenames. The original file names... Read more

September 15, 2023
3AM Ransomware Locks Victim Files screenshot

3AM Ransomware Locks Victim Files

3AM is a ransomware program coded in the Rust programming language. Its primary objective is to encrypt files. Once the encryption process is completed, it attempts to erase Volume Shadow (VSS) copies. Additionally,... Read more

September 14, 2023
Ooza Ransomware Will Hold Your System Hostage screenshot

Ooza Ransomware Will Hold Your System Hostage

While examining malicious software samples, we came across the Ooza ransomware, which is part of the Djvu family. Once this ransomware infiltrates a computer, it encrypts data and appends the ".ooza" extension to file... Read more

September 13, 2023
SpotifyxBiden Ransomware Demands Modest Ransom screenshot

SpotifyxBiden Ransomware Demands Modest Ransom

Our team came across the SpotifyxBiden ransomware during an examination of new malware samples. This malicious software is derived from the Chaos ransomware and is crafted to encrypt data, demanding ransoms for its... Read more

September 21, 2023
Wwhu Ransomware Locks Victim Systems screenshot

Wwhu Ransomware Locks Victim Systems

While analyzing malicious software samples, we came across the Wwhu ransomware, which is a member of the Djvu malware family. When it infiltrates a computer, this ransomware encrypts files and appends the ".wwhu"... Read more

September 19, 2023
Wwpl is a Ransomware Variant Based on Djvu screenshot

Wwpl is a Ransomware Variant Based on Djvu

A new ransomware variant based on Djvu code was discovered, called Wwpl. After infiltrating a computer, this ransomware encrypts data and appends the ".wwpl" extension to file names. For example, a file originally... Read more

September 18, 2023
ZeroCool Ransomware Threatens Leaking Data screenshot

ZeroCool Ransomware Threatens Leaking Data

The ZeroCool ransomware is a form of malicious software that encrypts files. Alongside the encryption process, ZeroCool appends the ".ZeroCool" extension to the filenames and delivers a ransom message in a file called... Read more

September 15, 2023
Oohu Ransomware Scrambles Your Files screenshot

Oohu Ransomware Scrambles Your Files

While examining malware samples, we came across a ransomware variant called Oohu. Oohu is designed to encrypt files and change their file names by appending the ".oohu" extension. Additionally, Oohu generates a ransom... Read more

September 14, 2023
Hgfu Ransomware Will Lock Your Files screenshot

Hgfu Ransomware Will Lock Your Files

While examining malicious software samples, we came across the Hgfu ransomware, which is part of the Djvu malware family. Once it infiltrates a computer, this ransomware encrypts files and appends the ".hgfu"... Read more

September 11, 2023
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