What you need to know about recent ransomware attacks

Updated on October 21, 2022, by Xcitium

What Is a Recent Ransomware Attack?

A recent ransomware attack is a cyberattack in which attackers use ransomware malware to encrypt files, disrupt operations, or steal sensitive data and demand payment for recovery. Recent ransomware attacks increasingly involve double extortion tactics, where attackers both encrypt data and threaten to leak stolen information unless a ransom is paid.

Do an internet search on “ransomware recent attacks” and then head past the adverts to the news tab. You are just about guaranteed to find a string of articles listing companies who have been hit. In fact, you’ll probably find at least one article involving a major global name (like Honda). If you take the time to go through the history of the articles, you’ll find that Ransomware attacks have been increasing in sophistication and aggressiveness. This means that it is increasingly important to understand how to protect yourself from ransomware attacks.

What Are the Latest Ransomware Trends?

Ransomware attacks continue to evolve rapidly.

Current Trends

• Double extortion attacks
• Triple extortion campaigns
• Ransomware-as-a-Service (RaaS)
• Targeting cloud environments
• Supply chain ransomware attacks
• AI-assisted phishing campaigns
• Increased attacks on critical infrastructure

Some people class mobile ransomware as a separate category, but this is questionable since, at present, it seems to follow the same lines as scareware and lockware. It just targets mobile operating systems, particularly Android. There is also a type of malware called leakware, which threatens to expose data from a user’s computer unless they make a payment. Arguably this also counts as ransomware, although at present, it’s still very rare.

Removing ransomware

In most cases, getting rid of the ransomware itself is very straightforward. You just install a reputable anti-malware program and have it scan your computer or mobile device. Getting rid of lockware can be a little more complicated. You will probably need to boot into safe mode and then try to install a reputable anti-malware program. If this doesn’t work, then on a computer you’ll need to restore to a previous time point and on a mobile device do a hard factory reset.

Protecting your data from ransomware

One of the harsh truths about ransomware is that no matter how hard you try, you are never completely guaranteed to keep it out of your system. If, however, you accept this reality, then you can prepare for it.

First of all, you need to make sure that all sensitive data is kept encrypted. Ideally, you should encrypt anything you do not want an authorized third-party to read. As an absolute minimum, you need to ensure that all personally identifiable data is kept encrypted. This includes any personally identifiable data you collect from your own employees. Taking this step will help to keep you on the right side of the law if your systems are compromised.

Secondly, you need to make sure that you have two data backup locations, one local and one off-site. It’s fine if the off-site location is in the cloud, even the public cloud, but it needs to be physically and logically separate from your main system. Ideally, it should contain backups from different time points in case there is a delay in identifying the encryption and it seeps into your backup system.

What Happens After a Ransomware Attack?

Modern ransomware attacks can have long-term consequences.

Common Impacts

• Operational downtime
• Revenue loss
• Data breaches
• Regulatory fines
• Reputation damage
• Legal expenses
• Customer trust erosion

Key Insight

For many organizations, downtime costs exceed the ransom demand itself.

Preventing ransomware attacks

Any time malware successfully penetrates your defenses, you are going to suffer some level of inconvenience, really the only question is how much. It, therefore, makes sense to do as much as you can to keep out ransomware.

Your first line of defense is a robust anti-malware solution. For most companies and individuals, the best option is a cloud-based product that combines a malware scanner and a firewall. These days, you’ll often get extra functions such as sandboxes and ad-blockers, but those are the two must-haves.

The reason you want a cloud-based product is that security products need to be updated very frequently. With cloud-based products, the vendor deals with the entire update process. There is no need to download and install anything locally. This is both more convenient and quicker. As a bonus, this approach also reduces the load on the local device.

Using an all-in-one solution is also more cost-effective and more convenient as compared to stand-alone products and these days the performance is just as good.

Please click here now to start your free 30-day trial of Xcitium AEP.

Key Ransomware Statistics

Including current statistics improves authority and engagement.

Suggested Metrics

• Percentage increase in ransomware attacks
• Average ransom demand
• Average downtime per incident
• Most targeted industries
• Cost of recovery

Ransomware Prevention Best Practices

Prevention Checklist

• Deploy advanced endpoint protection
• Enable multi-factor authentication
• Patch vulnerabilities quickly
• Implement Zero Trust security
• Backup critical data regularly
• Restrict privileged access
• Monitor network activity continuously
• Train employees on phishing awareness
• Deploy email security solutions

Incident Response Checklist

Organizations should act quickly after discovering ransomware.

Immediate Response Steps

1. Disconnect affected systems.
2. Activate the incident response plan.
3. Identify the ransomware variant.
4. Preserve forensic evidence.
5. Notify stakeholders.
6. Restore systems from clean backups.
7. Conduct a post-incident review.

FAQ

What is a recent ransomware attack?

A recent ransomware attack is a cyberattack in which ransomware encrypts files or steals data and demands payment for recovery or non-disclosure.

What are the latest ransomware trends?

Current trends include double extortion, ransomware-as-a-service, cloud-targeted attacks, and supply chain compromises.

Which industries are most targeted by ransomware?

Healthcare, manufacturing, government, education, financial services, and critical infrastructure organizations are among the most frequently targeted sectors.

What is double extortion ransomware?

Double extortion ransomware steals data before encrypting systems and threatens to publish the information if payment is not made.

How can organizations prevent ransomware attacks?

Organizations can reduce ransomware risk through endpoint protection, MFA, Zero Trust security, backups, employee training, and continuous monitoring.

Should organizations pay a ransomware demand?

Law enforcement agencies generally discourage paying ransoms because payment does not guarantee data recovery and may encourage future attacks.

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Related Sources:

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