Ransomware is going to be the top-notch cyberthreat in 2023

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#AbhishekKumar, CEO & Founder, #Cybereconn

Ransomware is going to be the top-notch cyberthreat in 2023.

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    India is witnessing exponential growth in the adoption of digital technology across sectors and institutions, enabling a large number of people to avail themselves not only of services and conveniences but also governance solutions. The rise of digital has also been accompanied by growing need for cyberthreat intelligence and protection, to proactively minimize risks and ward off cyberattacks. Threat intelligence is about identifying and analyzing cyberthreats targeting a business. IT specialists use sophisticated tools to read threats and analyse them, applying historical knowledge to identify a real threat apart from one that is not, and then applying a solution to mitigate it. The better and more comprehensive the tool, the more robust is threat intelligence. While enterprises and institutions are waking up to the actual scale of dangers posed by weak cybersecurity systems targeting not only finances but also user data, Kaspersky, a global cybersecurity company, has urged players to take speedy steps to strengthen their cybersecurity systems as the only way to protect not only their funds and data but also their reputation and the consumer’s trust in their ability to service them.



    Secondly, it is now official that, the online gaming software simulated a number of cyberthreat incidents, for which were highlighted a range of solutions. As a result, participants were reminded of the various kinds of vulnerabilities that exist in the digital world and the counter-measures required for it. While large businesses have woken up to cyberthreats, a lot more awareness is needed. Media’s role in making medium- and small-sized businesses and institutions aware of these risks and urging them to take steps in the right direction is seen as crucial. On the other hand, large businesses too need to keep investing in latest cybersecurity solutions to ensu

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    #Ransomware groups are using their best of breed tactics to go for newer attacks, as the involvement of law enforcement in these incidents forced many to exit the playing field. A report from ESET says in its threat report, intensifying brute-force attacks, and deceptive phishing campaigns targeting people working from home who have gotten used to performing many administrative tasks remotely. Ransomware, showing three major detection spikes during the second quarter, saw the highest ransom demands to date. The attack collapsed the operations of a colonial pipeline - the largest US pipeline company - and the supply-chain attack leveraging a vulnerability in the Kaseya VSA IT management software, sent shockwaves far beyond the cybersecurity industry. The offender of the Kaseya attack had asked for $70 million - the highest known ransom demand so far. Ransomware gangs may have overdone it this time: the involvement of law enforcement in these high-impact incidents forced several gangs to leave the field. The same can’t be said for TrickBot, which appears to have bounced back from last year’s disruption efforts.

    ESET detected 55 million new brute-force attacks (+ 104% compared to T1 2021 ) against public-facing remote desktop protocol services during May and August 2021. ESET telemetry also witnessed an impressive increase in the average number of daily attacks per unique client, which doubled from 1,392 attempts per machine per day in T1 2021 to 2,756 in T2 2021. The Threat Report includes the findings of the highly targeted DevilsTongue spyware, which is used to spy on human rights defenders, dissidents, journalists, activists, and politicians; and a new spear-phishing campaign by the Dukes APT group, which remains a prime threat to Western diplomats, NGOs, and think tanks.

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  • Watch The 9-point guide to save yourself from ransomware Video
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    Ransomware is a malware that hijacks computers, encrypts important files, denies access to them, and then asks the victim to pay ransom to have the files decrypted.
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  • Watch Global war on Ransomware Video
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    Will the global war on ransomware ever happen? Cyber Security remains to be the number one national security threat for the US since 2014 and by extrapolation for the world. A world which is a mosaic of countries existing for a variety of reasons, can they ever possibly understand a threat of this nature and respond accordingly. We have seen this happening in reaction to the Pandemic by any number of countries, till the time it got the better of us and we are still struggling with it. Over 30 countries have pledged to fight ransomware attacks in a US led global meeting. The US, the European Union and 30 other countries have understood the risk of ransomware and have decided to harden the financial system from exploitation with the goal of disrupting the ecosystem.

    What does ransomware impact? From malign operations against local health providers that endanger patient care, to those directed at businesses that limit the ability to provide fuel, groceries, or other goods to the public, ransomware poses significant risk to critical infrastructure, essential services, public safety, consumer protection and privacy and economic superiority. FinCEN has tied $5.2 billion worth of outgoing Bitcoin transactions to 10 most commonly reported ransomware variants. In the first half of 2021 alone, ransomware-based financial activity is estimated to have channelized $590 million for the threat actors. The most commonly reported variants were REvil (aka Sodinokibi, Conti, Darkside, Avaddon, and Phobos.

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