BotNet News

Ransomware is malware that encrypts files or shuts down networks or servers and then demands payment to return control. Cybercriminals often ask for payments in cryptocurrency, which is almost impossible to trace.

When ransomware first hit the scene, it targeted individuals, but when criminals realized its value in halting productivity and ruining brand reputations, they focused on businesses. It is now the number one cybersecurity threat to organizations of all sizes and a major reason why cybersecurity must be high on the boardroom agenda.

File-encrypting ransomware like CryptoLocker re-introduced the world to this type of malware in 2013. It used military grade encryption and stored the key required to unlock files on a remote server, making it virtually impossible for victims to get their data back without paying up. It’s even worse today: hackers are experimenting with new features that can cripple entire systems, such as countdown timers and infection routines that spread from computer to computer.

In addition to locking down networks and files, some variants of ransomware are now stealing sensitive information and publishing it on the internet. Others, such as Maze and BlackCat, use threats of expensive data breaches as an incentive to pay the ransom.

While the Biden administration has made stopping ransomware attacks a national security priority, cybercriminals are still finding ways around the best defenses and leveraging the latest attack methods. But it’s possible to thwart their plans with strategies that include backups, user education and quarantining suspicious emails.