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Ransomware is a kind of malware used by cybercriminals to stop users from accessing their systems or files; the cybercriminals then threaten to leak, destroy or withhold sensitive information unless a ransom is paid. Ransomware attacks can target either the data held on computer systems (known as locker ransomware) or devices (crypto-ransomware). In both instances, once a ransom is paid, threat actors typically provide victims with a decryption key or tool to unlock their data or device, though this is not guaranteed. Oliver Pinson-Roxburgh, CEO of  Defense.com , the all-in-one cybersecurity platform, shares knowledge and advice in this article on how ransomware works, how damaging it can be, and how your business can mitigate ransomware attacks from occurring. What does a ransomware attack comprise? There are three key elements to a ransomware attack: Access In order to deploy malware to encrypt files and gain control, cybercriminals need to initially gain access to an orga...

Today's modern companies are built on data, which now resides across countless cloud apps. Therefore  preventing data loss  is essential to your success. This is especially critical for mitigating against rising ransomware attacks — a threat that  57% of security leaders expect to be compromised by within the next year .  As  organizations continue to evolve, in turn so does ransomware . To help you stay ahead, Lookout Chief Strategy Officer, Aaron Cockerill met with Microsoft Chief Security Advisor, Sarah Armstrong-Smith to discuss how  remote work  and the cloud have made it more difficult to spot a ransomware attack, as well as how deploying behavioral-anomaly-based detection can help mitigate ransomware risk.  Access the full interview .  Aaron Cockerill:  I feel like the way modern enterprises operate, which includes a combination of technologies, has allowed the ransomware to thrive. Having experienced this type of attack in my ...

Get exclusive insights from a real ransomware negotiator who shares authentic stories from network hostage situations and how he managed them. The Ransomware Industry Ransomware is an industry. As such, it has its own business logic: organizations pay money, in crypto-currency, in order to regain control over their systems and data. This industry's landscape is made up of approximately 10-20 core threat actors who originally developed the ransomware's malware. To distribute the malware, they work with affiliates and distributors who utilize widespread  phishing attacks  to breach organizations. Profits are distributed with approximately 70% allocated to the affiliates and 10%-30% to these developers. The use of phishing renders online-based industries, like gaming, finance and insurance, especially vulnerable.  In addition to its financial motivations, the ransomware industry is also influenced by geo-political politics. For example, in June 2021, following the ranso...

By now I am sure you have already heard something about the WannaCry ransomware , and are wondering what's going on, who is doing this, and whether your computer is secure from this insanely fast-spreading threat that has already hacked nearly 200,000 Windows PCs over the weekend. The only positive thing about this attack is that — you are here — as after reading this easy-to-understandable awareness article, you would be so cautious that you can save yourself from WannaCry, as well as other similar cyber attacks in the future. Also Read — Google Researcher Finds Link Between WannaCry Attacks and North Korea . Since this widely spread ransomware attack is neither the first nor the last one to hit users worldwide, prevention is always the key to protect against such malware threats. What is WannaCry? How to Protect your Computer from WannaCry Ransomware? Follow These Simple Steps. TWEET THIS In this article, we have provided some of the most important primary secu...

The cybersecurity world is constantly evolving to new forms of threats and vulnerabilities. But ransomware proves to be a different animal—most destructive, persistent, notoriously challenging to prevent, and is showing no signs of slowing down. Falling victim to a ransomware attack can cause significant data loss, data breach, operational downtime, costly recovery, legal consequences, and reputational damage. In this story, we have covered everything you need to know about ransomware and how it works. What is ransomware? Ransomware is a malicious program that gains control over the infected device, encrypts files, and blocks user access to the data or a system until a sum of money, or ransom, is paid. Crooks' scheme includes a ransom note—with amount and instructions on how to pay a ransom in return for the decryption key—or direct communication with the victim. While ransomware impacts businesses and institutions of every size and type, attackers often target healthcare, e...

Ransomware: contemporary threats, how to prevent them and how the FBI can help In April 2021, Dutch supermarkets faced a food shortage. The cause wasn't a drought or a sudden surge in the demand for avocados. Rather, the reason was a ransomware attack. In the past years, companies, universities, schools, medical facilities and other organizations have been targeted by ransomware threat actors, turning ransomware into the internet's most severe security crisis. The Ransomware Landscape Ransomware has existed for more than 30 years, but it became a lucrative source of income for cyber actors and gangs in the past decade. Since 2015, ransomware gangs have been targeting organizations instead of individuals. Consequently, ransom sums have increased significantly, reaching millions of dollars. Ransomware is effective because it pressures victims in two, complementary ways. First, by threatening victims to destroy their data. Second, by threatening to publicize the attack. The s...

Today, the LockBit ransomware is the most active and successful cybercrime organization in the world. Attributed to a Russian Threat Actor, LockBit has stepped out from the shadows of the Conti ransomware group, who were disbanded in early 2022. LockBit ransomware was first discovered in September 2019 and was previously known as ABCD ransomware because of the ".abcd virus" extension first observed. LockBit operates as a Ransomware-as-a-service (RaaS) model. In short, this means that affiliates make a deposit to use the tool, then split the ransom payment with the LockBit group. It has been reported that some affiliates are receiving a share as high of 75%. LockBit's operators have posted advertisements for their affiliate program on Russian-language criminal forums stating they will not operate in Russia or any CIS countries, nor will they work with English-speaking developers unless a Russian-speaking "guarantor" vouches for them.  Initial attack vectors of...

2023 CL0P Growth  Emerging in early 2019, CL0P was first introduced as a more advanced version of its predecessor the 'CryptoMix' ransomware, brought about by its owner CL0P ransomware, a cybercrime organisation. Over the years the group remained active with significant campaigns throughout 2020 to 2022. But in 2023 the CL0P ransomware gang took itself to new heights and became one of the most active and successful ransomware organizations in the world.  Capitalizing on countless vulnerabilities and exploits for some of the world's largest organizations. The presumed Russian gang took its name from the Russian word "klop," which translates to "bed bug" and is often written as "CLOP" or "cl0p". Once their victims' files are encrypted, ".clop" extensions are added to their files.  CL0P's Methods & Tactics  The CL0P ransomware gang (closely associated with the TA505. FIN11, and UNC2546 cybercrime groups) was renowned for their extremely destructive and aggressi...