What is Ransomware? – Trends in small business

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Ransomware is a type of malware or malware that can restrict your access to an Internet device or data on it until you pay a ransom in exchange for access to your device or data.

In this article, we will look at how ransomware enters your computer system, how it works, and how to prevent a ransomware attack.

Let’s dive into:

What is a Ransomware Attack?

A ransom attack is a type of malware attack that restricts or prevents you from accessing your device or data until the ransom is paid. What’s worse is that malicious actors who carry out ransom attacks threaten to publish or sell data on the dark web if the ransom is not paid.

According to a Verizon report, ransomware contributes 10% of all data breaches. Nowadays, one does not have to develop a ransom kit on one’s own. Many ransomware operators offer ransomware as a service that allows threat participants to have easy access to sophisticated tools and malware for targeted attacks.

The following two forms of ransomware are widely used by ransomware perpetrators around the world:

1. Locker ransomware that locks your access to a computer system or mobile device
2. Crypto ransomware that encrypts files and sensitive data on a device

How does Ransomware work?

Like any other malware, Ransomware can enter your computer device in many ways. But when it comes to how to work, all variants of ransomware have the following common stages:

• Ransomware enters your computer device and remains inactive for several days / months, evaluating your critical data.
• Once ransomware gains access to your critical data, it begins encrypting files with an encryption key controlled by the attacker. Ransomware can also delete archive files or encrypt data backups
• After encrypting files or locking your computer system, it will ask for a ransom

There may be a few more steps, depending on the ransomware variant. For example, several variants of ransom software filter data before sending a ransom note.

Although ransomware attackers promise to release a decryption key once a ransom is given, this is not always the case. In addition, the ransom payment encourages participants in the threat to infect other devices. So ransom payment should not be at the top of your list when dealing with a ransom attack.

A brief history of Ransomware attacks

The following is a brief history of ransomware attacks:

• Joseph Pop, PhD, an AIDS researcher, initiated the first known ransomware attack in 1989 by distributing floppy disks to AIDS researchers
• The first version of CryptoLocker appeared in December 2013
• CryptoWall appeared in 2014, causing damage of about $ 18 million
• Locky appeared in 2016 and there are many options
• The famous WannaCry ransomware infected more than 200,000 computers worldwide in 2017.
• In 2021, the group DarkSide ransomware attacked Brenntag, collecting $ 4.4 million from the company as ransom

Modern ransomware attacks are complex and require a large ransom. Cybersecurity Ventures estimates that global cybercrime spending will grow 15 percent annually over the next five years, reaching $ 10.5 trillion a year by 2025.

How to prevent infection with Ransomware

Systems infected with ransomware can further infect multiple devices connected to a network server before you can remove ransomware. Therefore, it is necessary to be active to block ransomware.

Here are some strategies for preventing ransomware infections:

1. Have good network policies

Whether it’s a home or corporate network, you should follow best network practices to protect against ransomware software or any other cyber attacks.

You need to make sure that:

Additionally, non-segmentation of your network can spread ransomware from the endpoint to the servers. So, make sure your network is segmented. This can stop the spread of ransomware from one infected system to another.

2. Protect your servers

Your hardware and software, including the operating system, must be up to date. And you should never use default passwords for your devices. Always protect your devices with strong passwords.

If possible, use SSH keys. They are more secure than passwords.

3. Backup data

Ransomware can encrypt data and files stored on your computer or server. In many cases, ransomware victims do not have access to encrypted data or encrypted files. So you need to regularly back up all your important data offline and online.

You can easily find a reliable cloud storage with the option to encrypt files for extra security.

4. Promote safe online behavior

You and your employees need to practice safe online behavior.

You need to make sure that your employees:

• Never turn off operating system updates
• Do not download cracked software
• Avoid clicking on a malicious link
• Do not open pop-ups on malicious websites

Regular training of your employees on cybersecurity best practices can help protect you from ransomware or other types of malware.

5. Install security software

No tool completely stops ransomware. But having ransomware-specific applications can block malicious attachments in phishing emails and keep your valuable files and data safe to a significant degree.

Response to Ransomware attacks

If you have a machine infected with ransomware, the following step-by-step strategy can help you get through the crisis:

Stage 1:

Isolate the infected device and lock your network to stop ransomware from spreading and encrypting files on other systems.

Step 2:

Assess your damage. And scan your system with a good anti-ransomware tool to get rid of an active ransomware executable.

Step 3:

Check resources such as Id Ransomware and No MoreRansom to see if a ransomware encryption decryption key is available that has affected your system.

In most countries, the authorities recommend not making ransom payments. But it all depends on your situation.

If you do not want to pay the ransom, you should consider encrypting data that the threat has already encrypted. This can prevent the misuse of threat-controlled data.

Step 4:

Restore the machine from a clean backup or reinstall the operating system to completely remove malware from your device.

It is not easy to navigate through a ransomware attack. You may not know if you are dealing with a hacker or a ransom group.

So it is better to seek professional help to increase the chance of data recovery and complete removal of ransomware.

How does Ransomware get on your computer?

Spam and phishing emails are the leading reason for ransomware to enter your device. Other causes of ransomware infection include, but are not limited to, malicious pop-ups on random websites, pirated software, Remote Desktop Protocol (RDP), USB and removable media, drive-by downloads, and weak passwords.

How are Ransomware attackers paid?

Ransomware attackers prefer to receive payment in cryptocurrency, especially in Bitcoin. This is due to the nature of cryptocurrency to be confidential, anonymous and difficult to track.

Can Ransomware be distributed via Wi-Fi?

Yes, ransomware can be distributed via Wi-Fi. Ransomware attacks via Wi-Fi can infect all devices connected to the network. Wi-Fi can sometimes be an easy way for hackers to spread malicious code and carry out an active ransomware infection.

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