The trouble with ransomware is well known at this point.
From Egregor to Doppelpaymer to Ryuk, it continues to command headlines. Pandemic-fueled phishing scams, the lack of visibility across remote endpoints, and lax attitudes have been a boon for ransomware groups over the last year. Worst of all, ransomware no longer discriminates. It dominates small towns and municipal offices, video game makers, and shamelessly, healthcare organizations and school systems already pushed to the brink by the COVID-19 pandemic.
The threat could still become more pervasive over the next two to three years, not because ransomware is effective in and of itself but because of other players in the game – insurance companies, brokers, and even attorneys – that continue to fan the flames.
Unfortunately, many victims don’t understand why this this is the case.
To understand the world of ransomware, it’s important to conceptualize it as an economy: Attackers deploy malware and demand a ransom to facilitate their business model. Once established, these operations – usually cottage industries – can be updated and adjusted to meet their needs.
Like any industry, when it comes down to it, the goal of ransomware is to get paid. This is where the business model comes in.
The suppliers, usually cybercriminals peddling ransomware-as-a-service (RaaS) solutions, have demonstrated a knack for growing their business. Being a ransomware operator doesn’t necessarily require technical skill; it’s more about being an entrepreneur.
Recent reports claim ransomware gangs earned at least $350 million in 2020, a staggering 311% increase over the previous year. Ryuk, which has bee ..
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