As we keep updating our cybersecurity measures, ransomware operators too have realized that there are alternative ways of monetizing the data they have encrypted. This can be cited as one of the main reasons ransomware attacks grew by 118 percent in the first quarter of 2019. And with the increase in the cybercriminals and affordability of the hacking code, ransomware activities will continue to proliferate in 2020 too. According to a research report, the most common target areas include entities engaged in public services such as municipalities, schools, and healthcare providers. When the demands are not met, perpetrators have published confidential information.
The report also mentions that the nature of attacks is changing, with more focus on enterprises (rather than individual consumers), larger payment demands, and more targeted approaches deployed. The aggression of the attackers and the value of the impact on businesses is also more pronounced. Also, the emergence of Ransomware-as-a-Service (RaaS) is enabling scaling of ransomware services through the dark web.
Origins
Ransomware is a malicious software attack in which the attacker locks and encrypts the victim’s data and then demands a payment to unlock and decrypt the data. Besides, it can cause downtime, data loss too. It first originated in 1989, code-named AIDS, or the PC Cyborg Trojan. The ransomware was sent mostly to people who are associated in the healthcare industry using a floppy disc. The ransomware counted the number of times the PC was booted: once it hit 90, it encrypted the machine and the files on it and demanded the user to ‘renew their license’ with ‘PC Cyborg Corporation ‘ by sending US$1 ..
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