Paying for ransomware doesn’t always mean you get your data back

Agreeing to ransom demands does not guarantee the safe return of data following a ransomware attack, a new report from security firm Sophos suggests. Polling 5,400 IT decision-makers from organizations all over the world, Sophos found that just eight percent of ransomware victims managed to get all their data back after paying the ransom. Almost a third (29 percent) got …

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Ransomware attacks are now more costly than ever

Were it not for a single ransomware group and its enormous demands, average and median ransom figures would have been lower in Q1 2021, compared to previous quarters. However, the average ransom payment has risen 43 percent, and median ransom payment rising 59 percent, quarter-on-quarter. This is according to a report from ransomware recovery company Coveware, which states that the …

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Ransomware attacks are becoming increasingly targeted

Ransomware operators are losing interest in wide net attack strategies. Instead, they’re more inclined towards targeted attacks, in which they know exactly who they’re targeting, why and for how much money. This is according to a new report from cybersecurity firm Kaspersky, which states that the number of ransomware attacks has been steadily declining over the years. Between 2019 and …

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Ransomware became three times as lucrative in 2020

Last year was an incredibly lucrative period for ransomware operators, a new report from Palo Alto Networks suggests. The latest report from the company’s cybersecurity unit claims that the average ransom payment almost tripled, while the highest ransom paid was twice as large as the previous record-breaking sum. All of this has emboldened ransomware operators to scale up campaigns, and …

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Ransomware is now a multi-billion-dollar industry

Despite some of the most prolific ransomware operators eithering retiring or being shut down by law enforcement, the sector continues to grow in sophistication and scale. This is according to a new report from cybersecurity company Group-IB, which claims ransomware is now a multi-billion-dollar industry, with the average payout sitting somewhere between $150,000 and $170,000. As reported by Bleeping Computer, …

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Healthcare firms saw a rise in ransomware attacks last year

Healthcare firms had a nightmare of a year in 2020, not just as a result of the pandemic, but also due to an increasing volume of cyberattacks, ransomware campaigns and data theft. A new report from cybersecurity vendor Netwrix claims healthcare organizations were targeted most frequently by phishing in the cloud (44 percent), ransomware (39 percent) and insider data theft …

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The rise, fall and rise of ransomware

Ransomware and cyberattacks had quite the year in 2020. While we were busy enabling suddenly remote workers, the FBI reported a sudden 400 percent increase in cyberattacks. The more alarming part is that the ransomware attacks also got more precise, thorough, and methodical, which was something previously less common, with criminals favoring softer, less secure targets. Sadly, it’s no longer …

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The rise of ransomware | ITProPortal

2020 was a strange year: an unpredictable election in the USA, wildfires across many countries, and (of course) the pandemic. While it’s lesser known to the public, in the world of cybersecurity, the pandemic has led to a rapid and dramatic increase in the number of successful cyberattacks. Many analysts are worried that this will add to the economic devastation …

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How data storage technology can overcome human vulnerabilities that open the door to ransomware

Ransomware attacks dominated the cyber security landscape in 2020 and will remain a top threat in 2021, posing major challenges for both public and private institutions. The UK’s National Cyber Security Centre recently reported that it handled more than three times as many ransomware incidents as in the previous year.  New variations of attacks are always testing security defenses, including …

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More ransomware victims are refusing to meet demands

The number of ransomware victims happy to pay the ransom in order to get their data back is in decline, resulting in the average ransom payment falling both quarter-over-quarter and year-on-year. This is according to a new report from Coveware, which states that many criminals do not keep their word by deleting stolen data once the ransom has been paid. …

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