BotNet News

Ransomware is malware that secretly infects a system, attacks files and access credentials without the victim knowing it, and then demands payment in cryptocurrency to unlock or decrypt them. It is the most common and severe cyberattack faced by individuals, businesses, and institutions. The growth of ransomware has been propelled by a combination of factors. First, it has become the preferred attack vector for many cybercriminals due to the low risks and high rewards associated with it. Moreover, it exploits a well-established, robust, and growing market for malware attack building blocks and exploits. The growth of ransomware is also facilitated by advances in anonymous crypto-payment mechanisms.

The most popular and successful ransomware attacks have been those targeting business networks and large organizations. These attacks are often facilitated by vulnerabilities in widely used software and computer operating systems. They are also facilitated by the growth of organised criminal gangs that operate in the ransomware space and continually refine the malware to avoid detection and improve its effectiveness.

Individuals, business, and institutions can take several steps to prepare for ransomware attacks, including backing up critical systems and educating employees on how to identify suspicious emails and file attachments. Additionally, CISA’s “Ransomware Response Checklist” provides significant guidance to organisations on how to mitigate and respond to ransomware attacks. However, no matter how much one prepares, there is a strong chance that they will experience a ransomware attack in the future. When that occurs, they must make a difficult and emotional decision.