Underground forum posts reveal types of company most at risk of ransomware

Instead of going to the trouble of breaching a target network, ransomware operators usually purchase access from third parties (called initial access brokers) on the dark web. New research has shown these groups don’t simply buy up whatever is available, but are only willing to pay for access to specific companies. Researchers from cybersecurity intelligence company KELA recently visited the …

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Ragnarok ransomware gang closes shop

Ragnarok, one of the most popular ransomware operator groups out there, has decided to abruptly called it quits. Not only has the group behind the infamous ransomware attack on Citrix ADC servers retired out of the blue, it also released a free decryption key for all of its victims. On its website, the 12 victims that were listed there are …

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What IT security teams can learn from the Colonial Pipeline ransomware attack

In May, news broke of a DarkSide ransomware attack on Colonial Pipeline, a major U.S. fuel pipeline that supplies roughly 45 percent of the East Coast’s diesel, gasoline and jet fuel. In response to the attack, the company shut down its pipeline for several days, causing mass disruption in America.  Colonial Pipeline CEO Joseph Blount’s testimony at a House Homeland …

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Ransomware attacks doubled in frequency during pandemic

Phishing may be the most common cybersecurity threat in the UK, but it could be only a matter of time before ransomware snatches the crown, a report from cybersecurity firm CybSafe suggests. Analyzing data provided by the Information Commissioner’s Office (ICO), CybSafe noted that phishing was to blame for most incidents so far this year, making up 40 percent of …

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The ransomware evolution | ITProPortal

Ransomware tactics have continued to evolve over the years, and remain a prominent threat to both SMBs and larger organizations. Particularly during the peak of Covid-19, research by IBM found that ransomware incidents ‘exploded’ in June 2020, which saw twice as many ransomware attacks as the month prior, taking advantage of remote workers being away from the help of IT …

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Ransomware groups set sights on large corporations

Ransomware operators are setting their sights on large corporations, as the number of attacks surges worldwide, a new report from security firm Barracuda Networks suggests. The report states that the volume of ransomware attacks rose 64 percent year-on-year, totalling 121 incidents detected in-house since August 2020. Of that number, 40 percent targeted large multi-national businesses, compared to just 14 percent …

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Defending universities against ransomware with cloud backups

As the back-to-school season rapidly approaches, prepping for cybersecurity threats and particularly ransomware should be at the top of the to-do list for any university IT departments. According to recent research, from 2019 to 2020 the number of ransomware attacks US universities faced increased by 100 percent, with average losses per attack standing at over $450K. ”Aggressive and urgent” action …

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These are the industries most likely to be hit with ransomware

Companies in the Architecture, Engineering & Construction (AEC) industries are more than twice as likely to suffer from a ransomware attack, compared to companies in other industries, a new report from cloud security firm Egnyte suggests. Analyzing numerous reported incidents, Egnyte found that almost a third (31 percent) of victims are attacked at least twice every 16 months. A “small …

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Previous ransomware records already obliterated in 2021

In just half a year, the entire ransomware volume for 2020 has been met and exceeded, a new report from cybersecurity company SonicWall states.  According to the report, global ransomware volume hit 304.7 million in the first half of 2021, surpassing last year’s full total of 304.6 million. Following in the footsteps of April and May, June was also a …

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Kaseya ransomware attack: The knock-on effect of the cyberattack on managed service providers

Ransomware continues to be one of the top threats to Managed Service Providers (MSPs), critical infrastructure organizations and government agencies at all levels. As threat actors continue to evolve their strategies and increase demands, organizations are feeling the pressure of defending themselves against one of the greatest risks in the current cybersecurity environment.  The recent ransomware attack on Kaseya has …

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