Across the globe, ransomware attacks have been wreaking havoc with enterprise IT infrastructures. In a typical ransomware attack, the perpetrator will gain un-authorized access to your data, encrypt it to make it in-accessible for you, and then demand a ransom in exchange for decrypting your very own data.
As ironic as it may sound, it is true, and ransomware is emerging as one of the most “lucrative” attack vectors for cyber miscreants. A recent study by consulting firm, the NCC Group has revealed a massive surge in the number of ransomware attacks.
The alarming bit is that ransomware attacks have witnessed a surge, both as per a Year on Year (YoY) basis, as well as Month on Month (MoM). If we take into consideration the MoM surge in ransomware attacks during the July of 2022, the report has revealed an alarming 47% surge, when compared to ransomware attack figures recorded during the June of 2022.
NCC Group’s research has attributed this recent surge in ransomware attacks to the “re-grouping” of certain high-profile groups engaged in this nefarious exercise. The two major ransomware variants that seem dominant among this recent wave of attacks include “Conti” and “LockBit”.
The mere fact that LockBit ransomware has its third iteration “out in the market”, speaks volumes about the constantly escalating threat of ransomware attacks. The major target for such attacks are large industrial networks, for a host of reasons. Perhaps the most obvious reason is the ability of these large organizations to pay hefty ransom amounts, once they’ve been infiltrated and compromised.
Another factor that is increasingly making industrial organizations a prime target for ransomware is their considerably large attack surface. With so many dispersed geographical locations, complex IT infrastructures, and the use of legacy tools, it is more or less a matter of time when these perpetrators can sneak in.
Towards the end, the report highlights the grave and ever present threat of ransomware attacks upon organizations of all sizes, serving a wide range of industries. This recent surge in ransomware attacks is a stark reminder for enterprises to plug all loopholes within their security mechanisms, and effectively counter this menace.