What Is Ransomware?

The Cybersecurity and Infrastructure Security Agency (CISA) defines ransomware as a type of malware threat actors use to infect computers and encrypt computer files until a ransom is paid. During a ransomware attack, the malware will disguise itself as a legitimate file – convincing users that it’s safe to open. However, once opened, the ransomware will spread across the network to infect and encrypt files in the background without the user’s knowledge.

Once the network is infected, the hackers will hold the encrypted files hostage and demand a ransom amount in exchange for decrypting the files – often in the form of Bitcoin or another untraceable cryptocurrency. The hackers will then threaten to release the stolen files to the public or auction them on the dark web. Ransom instructions are often provided in which the victim is given a limited time in which to pay the ransom before the files are exposed or sold. Once the ransom amount is paid, the threat actors will then send a decryption key so the company may recover its files.

While they may seem straightforward, ransomware attacks are multi-layered and follow a series of carefully constructed steps. Most ransomware attacks take advantage of exploited vulnerabilities or social engineering schemes to infiltrate a network. The unfortunate reality is that many companies do not fully recover from the reputational or financial loss of a ransomware attack – leaving a trail of destruction across both public and private sectors.

On average, 59% of organizations worldwide were victims of a ransomware attack between January and February 2024 alone. The popular cyber threat has become a go-to option for most criminals and hacktivists in both private and state attacks. Ransomware attacks can have devastating effects on businesses, individuals, and entire countries at large.

  • Businesses: Statista noted that over 72% of businesses worldwide were affected by ransomware attacks in 2023. Typically, a company hit by ransomware will suffer extended losses long after the attack itself. From financial and reputational damage to operational failure and legal ramifications - businesses are usually crippled by the task of recovery from a ransomware attack. Small- to medium-sized businesses risk closure without the proper funds to recover effectively.
  • Individuals: Ransomware affects the general public as well. By leveraging and possibly exposing client data and information onto the dark web, ransomware attacks can lead to general distrust in companies and further targeted cyber-attacks on individuals.
  • Governments: Critical infrastructure is a famously vulnerable sector for ransomware attacks. Healthcare facilities, government agencies, and other critical industries are usually targeted due to the severity of downtime where disruptions could be lethal.

While the effects and devastation caused by ransomware seem to be rising exponentially, the malware itself holds quite humble beginnings. With that, let’s look at the history of ransomware from its inception to what we know today.

What Is Ransomware?

How Does a Ransomware Attack Work?

The First Ransomware

Every villain has an origin story, and ransomware is no different. In 1989, Joseph Popp was a leading biologist who distributed 20,000 ransomware floppy disks to his fellow AIDS researchers. According to CNN, the disks were sent in the mail to attendees of the World Health Organization’s AIDS conference in Stockholm and supposedly contained a computer-based questionnaire that Dr. Popp said would help determine patients’ risk of contracting AIDS.

However, the Harvard-taught researcher infected every disk with malware which later became known as the first “digital AIDS”. The malware was sent to about 90 different countries and laid dormant until the computer was turned on 90 times, then a ransom note appeared on the screen demanding US$189 sent in an envelope to a PO Box in Panama.

Naturally, this cyber-attack was rudimentary at best but it paved the way for the evolution of ransomware into the sophisticated threat that it is today.

Common Types of Ransomware

Ransomware can broadly be distinguished into 5 categories.

  • Scareware: The first type is known as “scareware” and relies on a user’s unfamiliarity with computers or software. This malware immediately targets the user with error codes and system warnings to scare them into clicking on suspicious links for fear of damaging their equipment. The malware gets your financial details by asking for a simple payment to make the alerts disappear.
    • Examples: Fake antivirus software, tech support scams
  • Cryptoware: The most known form of ransomware is “crypto-ransomware” or “cryptoware”. This type of malware takes notes from Dr. Popp’s floppy disk idea and uses encryption to render files inaccessible without a specific cryptographic key that can only be gained after payment of a ransom. Unlike Popp’s artillery, most modern cryptoware attacks ask for payment in the form of bitcoin – which makes it immensely more difficult to track down than a postal address.
    • Examples: CryptoLocker, WannaCry, Locky
  • Locker Ransomware: Popularly known as Lockers, this type of ransomware completely locks the user out of the system, making files and applications inaccessible, sometimes even the desktop. A lock screen displays the ransom demand, often with a countdown clock to increase urgency.
    • Examples: Winlocker, Police-themed ransomware
  • Doxware of Leakware: Also known as extortionware, this ransomware threatens to publish sensitive information, such as personal photos, financial records, or business documents, unless the victim pays the ransom. Due to the significant reputational loss it causes, Doxware is considered one of the most dangerous ransomware attacks in the evolution of ransomware.
    • Examples: Maze, REvil/Sodinokibi
  • Ransomware-as-a-Service (RaaS): Just as the name suggests, RaaS is a business service model where cybercriminals develop and sell ransomware to other criminals. This allows even criminals with limited technical expertise to launch ransomware attacks. The main professional hacker handles all the aspects of the attacks in return for a part of the ransom.
    • Examples: Cerber, Satan, Philadelphia

The History of Ransomware

“Know thy enemy” is a sentiment that can be applied to almost any situation and ransomware is no different. Exploring the malware's origins gives organizations and the public a better understanding of how ransomware attacks have evolved and how they might continue developing. We’ve created a handy timeline to plot the exact history of ransomware as we know it.

1989: The Birth of Ransomware

The first recorded ransomware attack took place in 1989 when Dr. Joseph Popp distributed 20,000 infected floppy disks to his fellow researchers at a World Health Organization international AIDS conference. The leading biologist sent out Trojan malware disguised as a questionnaire that was said to help determine patients’ risk of contracting AIDS. The malware would lay dormant in computers until 90 reboots were made, then the user’s files would be encrypted and a ransom note would appear on the screen demanding US$ 189 be sent to PC Cyborg Corp. at a post office box in Panama. This malware later became known as the first “digital AIDS”.

1992: David Naccache and Sebastiaan von Solms

Within a few years of Popp’s ransomware stint, David Naccache and Sebastiaan von Solms had the idea of leveraging anonymous cash systems to safely collect ransom from human kidnappings in 1992. This technique used a newspaper to deliver the money electronically - as cryptocurrency didn’t exist at that time.

1996: Young and Yong

Adam L. Young and Moti Yung were opportunistic hackers who introduced the idea of public key cryptography to ransomware attacks by implementing a proof-of-concept that used a hybrid of Rivest-Shamir-Adleman (RSA) and Tiny Encryption Algorithm (TEA) to encrypt the victim’s data with a public key. Unlike the AIDS Trojan, this ransomware didn’t need to contain the decryption key – allowing the attackers to keep it private. Young and Yung's original experimental cryptovirus had the victim send the asymmetric ciphertext to the attacker who would then decipher it and return the symmetric decryption key it contained to the victim for a fee.

2000: Onel de Guzman

In 2000, Onel de Guzman created the infamous ‘lovebug’ or ‘ILOVEYOU’ virus – a computer worm that would overwrite files, steal passwords, and send copies of itself to all contacts in the recipient’s email list. The virus affected millions globally and caused widespread data loss.

Mid 2000s: Encryption-Based Ransomware

The turn of the century saw internet usage explode onto the field with internet users going from 39.14 million in 1995 to 2 billion in 2010. Mass digitization opened the door for advanced ransomware attacks. Many hackers used custom decryption keys like the US$ 20 GPCode decrypt hack which took place in 2005

2013–2015: The Rise of Bitcoin Ransomware

The emergence of Bitcoin and other cryptocurrencies in 2010 revolutionized the ransomware game forever by providing an anonymous and untraceable payment method. This set the stage for a new type of ransomware called CryptoLocker in 2013 – a malware that combined the power of Bitcoin with advanced encryption. It used 2048-bit RSA key pairs generated from a command-and-control server and delivered them to the victim to encrypt their files and pay US$ 300 for the key.

2015 – Now: Big Game Hunting

Since then, threat actors have transitioned from opportunistic attacks to targeted ransomware campaigns against specific organizations – or Big Game Hunting. While ransomware attacks on smaller targets still exist, there was a definite shift to focusing on high-value companies where bigger ransoms could be demanded. Recently, critical infrastructure became a heavily targeted industry due to the crucial nature of its services – making these facilities more likely to pay a ransom to keep operations running.

As we can see from the timeline above, ransomware has taken quite a few leaps in development over the last few decades. From petty crimes and measly floppy disks to multi-layered and complex cyber threats, ransomware has become a major cybersecurity hazard. To make things worse, we’ve now entered the stage of ransomware-as-a-service platforms.

The Ransomware-as-a-Service (RaaS) Business Model

The Ransomware-as-a-Service (RaaS) business model was created by coders and hackers to develop and sell ransomware attack models to affiliates. Essentially, a RaaS allows any threat actor to use their ready-made ransomware to execute their own cyber-attack - regardless of their expertise or knowledge. Several RaaS websites exist today - charging a simple service fee for malicious code and widening the scope of ransomware attacks to include amateur hackers.

Forbes reported that the RaaS model first reared its head after the invention of cryptocurrency in 2009. Naturally, cryptocurrency helped to fuel the rise of ransomware by providing an untraceable ransom payment method and by making it easier for hackers to buy and sell malicious software and services from each other without disclosing their identity. As a result, RaaS became a thriving industry. Today, the world’s most prolific ransomware, Lockbit, is operated on a RaaS model, along with REvil, Ryuk, and Egregor.

Ransomware-as-a-Service has undoubtedly pushed ransomware into the mainstream where almost anyone can orchestrate an attack for the right amount of money. Now, ransomware is one of the most popular forms of malware used against organizations. Statista emphasized the spike in ransomware attacks throughout several years – noticeably showing that the 2021 pandemic was a popular period for the most ransomware attacks.

Annual Number of Ransomware Attempts Worldwide in Millions

Annual Number of Ransomware Attempts Worldwide in Millions

Sourced from Statista

As the years go by, ransomware attacks have become more evolved and attack frequencies have fluctuated. To properly map out the destruction of ransomware attacks, we can now look at some of the top ransomware attacks in the last decade.

Top Ransomware Attacks (2014–2024)

As technology rapidly evolves and we move further into a dynamically digital era, it’s important to learn from our mistakes. Ransomware attacks have been rife throughout the last decade and we’ve listed out some of the top ransomware attacks to make headlines through each year.

2024 Top Ransomware Attacks

Ransomware attacks have become a trending issue across sectors. More pointedly, the World Health Organization recently briefed the UN on the alarming rise of cyber-attacks on healthcare facilities. In July, the non-profit blood donation service, OneBlood, became the victim of a ransomware attack that affected critical software systems.  

The use of AI in hacking has also become a cause for concern in 2024 and moving forward. AI cyber-attacks have risen tremendously since the mainstream use of the technology – where generative AI has made it easier to create malicious code and phishing content.  

2023 Top Ransomware Attacks

Cl0p Ransomware Exploiting MOVEit Vulnerabilities 

In May, the MOVEit ransomware attack began when the Cl0p ransomware gang began exploiting a previously unknown SQL injection vulnerability (CVE-2023-34362) in the MOVEit Transfer software. The software was used by multiple businesses – and US state agencies - to securely move files around company systems. While the group insisted that it had deleted any data stolen from governments, the military, and children's hospitals during the attacks, several US federal government agencies were still hit by the MOVEit breach. This led to the US State Department's Rewards for Justice program announcing a US$ 10 million bounty for information linking the Cl0p ransomware attacks to a foreign government. Costs of the MOVEit breach

Akira Targets Small and Medium Businesses

After emerging in 2023, the Akira ransomware group took credit for attacks on 4LEAF, Park-Rite, and Family Day Care Services. With ransom demands ranging from $50,000 to $500,000, Akira ransomware began actively targeting small- and medium-sized businesses around the world, with the main focus on the U.S. and Canada. Akira commonly infiltrates targeted Windows and Linux systems through VPN services, especially where users haven't enabled multi-factor authentication.

2022 Top Ransomware Attacks

Conti’s Ransomware Cartel

Costa Rica was forced to declare a state of emergency after the  Conti ransomware attack threw the country into chaos in April of 2022. The president,  Rodrigo Chaves, stated that the hackers had infiltrated 27 government institutions, including municipalities and state-run utilities. The Conti ransomware cartel, which is thought to be run from Russia, demanded a US$10m ransom in exchange for not releasing information stolen from the Ministry of Finance, containing potentially sensitive information like citizens’ tax returns and companies operating in the nation.  

BlackCat (ALPHV) Advanced Ransomware-as-a-Service

BlackCat operates on a Ransomware-as-a-Service model, where the creators of the malware allow other groups to use it, collecting a percentage of the ransom in return. Threat actors using BlackCat often employ triple extortion tactics, demanding a ransom to decrypt infected files, to not publish stolen data, and to not launch a denial-of-service (DoS) or distributed denial-of-service (DDoS) attack against the victim. The FBI has linked BlackCat to over 60 breaches during its first four months of activity between November 2021 and March 2022 – stating that the gang has raked in at least US$ 300 million in ransoms from over 1,000 victims until September 2023. 

2021 Top Ransomware Attacks

Colonial Pipeline Attack Causes Fuel Shortage

In one of the most significant supply line attacks, the  Colonial Pipeline Company fell victim to a ransomware attack in May of 2021. The company suspended its affected IT assets, as well as its main pipeline – which is responsible for transporting one hundred million gallons of fuel every day between Texas and New York. The FBI confirmed that the DarkSide ransomware gang was responsible for the attack.

DarkSide

German chemical distributor, Brenntag SE, reportedly paid a US$ 4.4 million ransom in Bitcoin to the DarkSide ransomware gang to obtain a decryptor for files encrypted by the hackers during a ransomware attack on the company. Threat actors encrypted devices on the network and claimed to have stolen 150GB of data during their attack – which they proved by creating a private data leak page with a description of data taken and screenshots of files.

Kaseya VSA Supply Chain Attack

In 2021, REvil affiliates exploited zero-day vulnerabilities in a systems management and monitoring tool developed by a company called Kaseya - compromising over 30 managed service providers (MSPs) from around the world and over 1,000 business networks managed by those MSPs. Net losses have been predicted to be around US$ 200m.

2020 Top Ransomware Attacks

Maze Ransomware

The Maze ransomware first came onto the scene through malicious email attachments. However, the malware has become more aggressive by combining data theft with encryption. Maze ransomware became popular for its double extortion methods - releasing stolen data publicly if the ransoms were not paid. Victims of the group include cyber insurer giant Chubb, Southwire, Stockdale Radiology, and Sunset Radiology.

Attack on Garmin Disrupts GPS Services

Garmin suffered service disruption after being targeted by an attack launched using a malware strain named WastedLocker - said to have been deployed by the Evil Corp gang. In the end, Garmin received a decryption key to stop the ransomware attack and release its encrypted files. While it wasn’t publicized if a ransom was paid, an employee told BleepingComputer that the original ransom demand was for US$ 10 million.

REvil

In the 2020 IBM Security X-Force Incident Response report, the company found that one in every three ransomware infections involved REvil/Sodinokibi. The report went on to state that the Revil Ransomware-as-a-Service was the one most frequently found that year - capitalizing on blended ransomware and extortion attacks. While the ransomware exploited vulnerabilities in servers and other critical assets of SMBs when it first emerged, it began to use other infection vectors over time - such as phishing and exploit kits.

2019 Top Ransomware Attacks

Ryuk Targets Large Organizations

By 2019, the Ryuk ransomware raked in around US$ 3.7 million in Bitcoin payments. According to analysis, the crime organization called Grim Spider has specialized in going after a bigger game with Ryuk – targeting large organizations for a higher ransom return.

Sodinokibi (REvil) Emergence

REvil – or Sodinokibi - was a Russia-based private Ransomware-as-a-Service (RaaS) operation that emerged with its use of double extortion tactics. Sodinokibi is the name of organized ransomware attacks that victimized the transportation industry and the financial sectors. REvil, also known as Sodinokibi, first appeared in April 2019 and rose to prominence after another RaaS gang called GandCrab shut down its service.

2018 Top Ransomware Attacks

Ryuk Ransomware Emerges

The Ryuk ransomware is a sophisticated cyber threat that has been targeting businesses, hospitals, government institutions, and other organizations since 2018. The ransomware made waves after disrupting the operations of all Tribune Publishing newspapers over the Christmas holiday that year. The group behind the malware is known for using manual hacking techniques and open-source tools to move laterally through private networks and gain administrative access to as many systems as possible before initiating the file encryption. Ryuk quickly established itself as a “Big game hunting” malware - including targets like newspapers, hospitals, and city organizational functions.

SamSam Attack on U.S. Municipal Systems

The SamSam ransomware was developed and operated by BOSS SPIDER - using unpatched server-side software to enter networks. SamSam was behind the 2018 ransomware attack on the city of Atlanta, Georgia which left 8,000 city employees without their computers, and prevented citizens from paying their water bills and parking tickets.

GandCrab Exploiting Exploit Kits for Distribution

In 2018, the GandCrab ransomware was being distributed via exploit kits. The ransomware was the first to accept the DASH currency. Research showed that GandCrab was being distributed through a malvertising campaign called Seamless that then pushed the visitors to the RIG exploit kit. The exploit kit would then attempt to leverage vulnerabilities in the visitor's software to install GandCrab without their permission.

2017 Top Ransomware Attacks

WannaCry Affecting 230,000 Global Systems

The WannaCry ransomware attack is often considered one of the biggest in history - infecting at least 75,000 computers across 99 countries and disrupting hospitals and businesses globally. Shadow Brokers – a hacking group - used EternalBlue to exploit a vulnerability in Microsoft Windows PCs. They encrypted files on computers around 230,000 computers worldwide - demanding a ransom between US$ 300 and US$ 600 in Bitcoin.

 

NotPetya Ransomware Attack

Leveraging the same EternalBlue exploits as the WannaCry attack, the NotPetya ransomware attack took a more destructive route and encrypted files permanently by infecting the Master Boot Record of Windows computers to take the system hostage. The modified ransomware ensured that the files could not be reverted, even if the victim paid the ransom. The damage caused by NotPetya has been pegged at more than US$ 10 billion – affecting industry giants like Maersk, FedEx Mondelez, Merck, WPP, Reckitt Benckiser, and Saint-Gobain.

Bad Rabbit Targets Media and Transportation

The Bad Rabbit strain of ransomware is a suspected variant of Petya. Like most ransomware, the virus locks the victim’s computer, server, or files to leverage a ransom payment. The strain first appeared in a ransomware attack on Russia, Turkey, Germany, and Ukraine. While initial attacks were carried out on the Ukrainian Ministry of Infrastructure and Kyiv Public Transport System, the attack seemed to also target media outlets – such as Interfax and Fontanka.ru.

2016 Top Ransomware Attacks

Locky Targets Hospitals and Healthcare Systems

A massive wave of Locky ransomware was used against hospitals – infecting systems with the file-encrypting malware. According to researchers, the payload was dropped via “.DOCM” attachments, which are macro-enabled Office 2007 Word documents. Hospitals are often an appealing target for ransomware attacks due to their critical nature and the treasure trove of personal data they keep.

Petya Introduces Master Boot Record (MBR) Encryption

The Petya ransomware variant first appeared at the beginning of 2016 and could be considered a 3-stage ransomware. Upon execution, the first thing Petya will do is override the hard drive’s Master Boot Record and implant a custom boot-loader - causing Windows to crash. Once rebooted, the system will display a fake CHKDSK screen and a flashing skull. After pressing any key, the instructions on how to pay a ransom will appear. Petya’s developers go further than simply encrypting files but also choose to hold the entire hard drive’s content hostage by encrypting its Master-File-Table (MFT) as well - rendering the entire file system useless until the ransom is paid.

2015 Top Ransomware Attacks

TeslaCrypt Targets Gaming Files

TeslaCrypt was the first ransomware to actively target PC video game files. The malware would encrypt data files from games like Call of Duty, Dragon Age, Minecraft, Diablo, and more - being distributed from a compromised website that redirects visitors to the Angler exploit kit using a Flash clip. The malware typically locks the victim's system, demanding payment and explaining that the user's files have been encrypted.

FBI Warns of Sharp Rise in Ransomware Cases

In 2015, the FBI’s Internet Crime Report noted that there were 2,453 ransomware complaints that year – a steep increase when compared to 2014's total of 1,402. The FBI warned of the uptick in ransomware attacks – stating that when ransomware first hit the scene, computers predominately became infected through e-mail attachments whereas an increasing number of incidents now involve “drive-by” ransomware, where users can infect their computers by simply clicking on a compromised website.

2014 Top Ransomware Attacks

CryptoLocker Resurgence 

Active from September 2013 to late May 2014, CryptoLocker would spread malware through infected email attachments and the Gameover ZeuS botnet. Once installed, the ransomware would encrypt files on the victim’s computer and demand a Bitcoin payment or prepaid cash voucher. 

SynoLocker Infects Synology NAS Devices 

Synology, a company specializing in Network Attached Storage (NAS) confirmed that some of their DiskStation devices were hacked by a " SynoLocker " malware - spreading through a vulnerability in older versions of their NAS software. The attackers demanded 0.6 Bitcoins to decrypt files. 

CryptoWall 

CryptoWall ransomware began infiltrating networks by gaining access through exploited browser plugins and downloading the payload or through being encrypted as a payload inside an image and sent via anonymous email campaigns. Once the infected image was downloaded, the payload ran the CryptoWall script, infecting the computer. According to the FBI , more than 992 CryptoWall-related complaints were received between April 2014 and June 2015 – during which victims reported more than US$ 18 million in losses. 

Popular Ransomware Groups

While the average person might struggle to enact a full-scale ransomware attack, most ransomware attacks are done through Ransomware-as-a-Service gangs or by some of the leading ransomware gangs themselves. These are some of the main names in ransomware today.

Brain Cipher is a ransomware group that made headlines by breaching Indonesia’s National Data Center and demanding an US$ 8 million ransom. Identified first in mid-2024, the group’s ransomware closely resembles those produced by the leaked LockBit 3.0 builder - suggesting that the group likely used this builder to create their malware. The group will often direct victims to a Tor-based communication page for ransom negotiations - further using dark web platforms to announce breaches and damage reputations to expedite ransom payments.

The Hellcat ransomware group gained massive attention in a short time since October 2024 by targeting high-profile entities. In November, the group attacked French multinational company, Schneider Electric, and claimed to have stolen 40GB of data. Oddly enough, the group demanded a ransom of US$ 125,000 in the form of baguettes to grab headlines then stated that they were looking for payment in Monero, a privacy-focused cryptocurrency. The ransomware group will usually infiltrate highly sensitive systems to steal large amounts of sensitive data then threaten to release it unless their ransom demands are met.

Ransomware group REvil - also known as Ransomware Evil or Sodinokibi - was a notorious Russian Ransomware-as-a-Service (RaaS) platform. The group took credit for many high-profile attacks and quickly became a formidable force. However, the group was dismantled in 2022 at the request of the US. 

The DarkSide ransomware group appeared in August 2020 and quickly became a leading Ransomware-as-a-Service platform. DarkSide claims to be a professional group and often uses a highly-targeted approach - with double-extortion being part of its ammunition. The group was responsible for the Colonial Pipeline ransomware attack in 2021.

The CL0P ransomware group emerged in 2019 using its namesake ransomware which is part of the Cryptomix ransomware family. The ransomware uses a “.clop” extension after encrypting a victim's files. Another unique feature of the malware is its string “Don’t Worry C|0P" within the ransom note left behind. The ransomware attempts to disable Windows Defender and remove the Microsoft Security Essentials to avoid detection.  

The RansomHub ransomware group emerged in early 2024 and is already considered one of the most prolific ransomware groups in existence. According to a US government advisory, threat actors linked to the RansomHub ransomware group have encrypted and exfiltrated data from at least 210 victims since its inception in February 2024. The group is likely an updated iteration of the older Knight ransomware and targets multiple platforms to leverage vulnerabilities for initial access. The Ransomware-as-a-Service platform has also attracted high-profile affiliates from other prominent variants - such as LockBit and ALPHV. 

The Play - or PlayCrypt - ransomware group has been active since June 2022 and has impacted a wide range of businesses and critical infrastructure across the globe. The FBI was aware of approximately 300 affected entities allegedly exploited by the ransomware group as of October 2023. The group is presumed to be a closed group designed to “guarantee the secrecy of deals” and often uses double-extortion methods to exfiltrate and leverage data.

The Hunters International ransomware group was launched in late 2023 and was flagged as a possible rebrand of Hive due to its code similarities. In 2024, the group announced 134 ransomware attacks against various organizations worldwide - ranking it tenth among the most active groups in the space.  

The Akira ransomware group emerged in 2023 and quickly climbed the ranks by hitting multiple organizations. The ransomware is designed to encrypt data on infected computers by adding the ".akira" extension to file names. According to an IC3 advisory, the ransomware group has impacted over 250 organizations and claimed approximately US$ 42 million in ransomware proceeds as of January 2024.

Protecting Organizations from Ransomware

Cybersecurity needs to become a priority for all organizations looking to expand within the digital age. The repercussions of a cyber-attack are far too many to simply avoid focusing on ransomware protection and prevention. Here are some of the ways your organization can defend itself against ransomware.

Proactive Measures

Paul Webber, a Senior Director Analyst at Gartner, stated that organizations need to focus on preparation and early mitigation if they want to cut losses to ransomware. Proactive cybersecurity involves anticipating an attack before it happens and preventing it by identifying potential weaknesses in a network before they can be exploited. Examples of proactive measures include the use of threat detection, firewalls, or vulnerability testing.

  • Organizations can also conduct regular data backups and isolate backup systems - securing company data within a password-protected external driver to keep it disconnected from the main network and out of the reach of hackers in the event of a ransomware attack.
  • An effective Endpoint Detection and Response (EDR) tool will ensure that your network’s endpoints are closely monitored and secure. Sangfor Endpoint Secure uses innovative anti-ransomware tools – such as the world’s first endpoint ransomware honeypot - to quickly detect and kill the ransomware encryption process, minimizing any damage to the system. The encryption controlling application is also identified and then located on other infected systems allowing “One-Click Kill” to eradicate the detected ransomware throughout the organization with just a single mouse click.
  • Phishing emails are one of the most common ways malware can enter a network. Reinforce your organization proactively by enforcing strong email security and spam filtering across your workforce. Gateway email scanners can easily filter files according to their extension tags so ensure that your organization is denying emails with uncommon and suspicious “.EXE” extensions.

Employee Training

Your employees are your first line of defense against a cyber-attack. Their actions will most likely determine the severity and reach of a ransomware attack within the first critical moments of the attack. This is why training your staff to recognize and respond accordingly is crucial. According to a study, cybersecurity awareness training leads to a 70% reduction in security-related risks.

  • Educate your staff about phishing attacks and basic cyber hygiene practices. This will ensure that your employees don’t click on suspicious links or attachments and use the internet safely. Invest in Cybersecurity Awareness campaigns in your office and create a culture of digital caution.
  • You can also prepare your staff by conducting regular simulations to test their awareness and knowledge. These tests will allow them to learn from mistakes and improve their response strategy within a safe and constructive environment. Organizations can also choose to incentivize these simulations and reward employees who respond correctly – thereby positively reinforcing good cyber hygiene practices.

Anti-Ransomware Solutions

Anti-ransomware solutions are services and platforms designed specifically to avoid, detect, combat, and recover from ransomware attacks. While most cybersecurity solutions offer a comprehensive solution, anti-ransomware solutions provide a targeted, convenient, and proactive approach that actively reduces ransomware attacks, fortifies endpoints and vulnerabilities, and provides peace of mind to organizations across sectors.

Incident Response Plans

Once a ransomware attack is in motion, it’s important to stay level-headed and follow strict guidelines to prevent further damage, downtime, and data loss. This is done by creating a solid Incident Response Plan. The goal of this plan is to contain the breach, minimize damage, and rapidly restore normal operations.

  • To be more direct in your approach to ransomware protection, try to develop a ransomware-specific response strategy. This plan will involve informing authorities, backing up data, securing endpoints, and contacting a cybersecurity incident response team.
  • To mitigate any financial loss due to a ransomware attack, your organization needs to invest in cybersecurity insurance. This policy will ensure that your company doesn’t take an expensive hit – either while paying off a ransom or financing your recovery.

While these are all valid and effective ways to secure your organization against ransomware, cybersecurity compliance standards are a surefire way of maintaining strict ransomware prevention practices.

Key Cybersecurity Compliance Standards

Ransomware is a global problem and digital threats can no longer be ignored by government agencies and systems. This is why cybersecurity compliance standards play a crucial role in protecting organizations from ransomware and other cyber threats. These regulations and laws keep organizations in check and provide guidelines, penalties, and provisions to maintain sufficient cybersecurity practices. Let’s go over some of the main cybersecurity compliance standards available today.

The NIST framework provides a series of standards for many private sector companies to effectively detect, respond to, and recover from cyber-attacks. It creates a common language for understanding complex cyber threats and resolving difficult cybersecurity issues. NIST is a non-regulatory agency of the U.S. Department of Commerce that was founded in 1901.

The ISO 27001 framework focuses on several factors of the foundation of cybersecurity compliance requirements. The regulations are used to ensure information security management and are guided by a certification that validates the standard of a cybersecurity solution or program.

The California Consumer Privacy Act of 2018 (CCPA) gives consumers more control over the personal information that businesses collect about them while CCPA regulations provide guidance on how to implement the law. 

The European General Data Protection Regulation (GDPR) is one of the toughest privacy and security laws in the world. Though it was drafted and passed by the European Union (EU), it imposes obligations onto organizations anywhere, so long as they target or collect data related to people in the EU.

The HIPAA Act of 1996 is a federal law that protects sensitive patient health information from being disclosed without the patient’s consent or knowledge. This ensures that healthcare workers and organizations cannot disclose patient files or information. HIPAA also insists that administrative, physical, and technical regulations are in place.

The Hong Kong Personal Data (Privacy) Ordinance (Chapter 486 of the Laws of Hong Kong) ("PDPO") is one of Asia’s longest-standing comprehensive data protection laws and governs the handling of personal data by data users.

The Personal Data Protection Act (PDPA) provides a baseline standard of protection for personal data in Singapore. It complements sector-specific legislative and regulatory frameworks such as the Banking Act and Insurance Act. It also comprises various requirements governing the collection, use, disclosure, and care of personal data in Singapore.

The Personal Data Protection Act BE 2562 (2019) (PDPA) of Thailand is a primary consumer data protection law that protects the data integrity of individuals. The law outlines users' rights over their personal information while providing guidelines to legally collect and use consumer information and listing the penalties for violating those requirements.

The Data Privacy Act of 2012 - or Republic Act No. 10173 - protects the privacy of individuals while ensuring the free flow of information to promote innovation and growth. The law also regulates the collection, recording, organization, storage, updating or modification, retrieval, consultation, use, consolidation, blocking, erasure, or destruction of personal data. It further ensures that the Philippines complies with international standards set for data protection through the National Privacy Commission (NPC).

The Personal Data Protection Act 2010 (PDPA) of Act 709 regulates the processing of personal data of individuals involved in commercial transactions. Under the law, users are protected from any form of abuse during the storage or processing of personal data of individuals in the public and private sectors of Malaysia.

The Sangfor Solution for Ransomware Attacks

Ransomware is constantly evolving and advancing in its ways to infiltrate networks. While it may seem impossible for individuals to do anything when big companies are breached, people can implement proper cybersecurity measures on a smaller scale to ensure that they won’t be the next victim of a ransomware attack.

Sangfor Technologies is a world-class cybersecurity and cloud computing company that offers intensive and advanced Anti-Ransomware prevention and state-of-the-art IT infrastructure. Ransomware detection and avoidance have never been simpler with this integrated solution that pieces together several advanced Sangfor products:

Sangfor Anti-Ransomware Solution

Sangfor Network Secure, Sangfor Endpoint Secure, and Sangfor Engine Zero together make up the Sangfor security solution for ransomware. The solution uses Sangfor Network Secure, an advanced next-generation network security firewall (NGFW) for comprehensive and integrated surveillance and protection of your entire security network to root out any malicious threats. Together with Sangfor Endpoint Secure (Endpoint Protection Platform), the solution identifies malicious files both at the network level and at endpoints. In addition, with Sangfor Engine Zero, the solution delivers a 99.76% detection rate of known and unknown malware across the internet.

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Sangfor Anti-Ransomware Solution

Sangfor Network Secure: Next-Generation Firewall (NGFW)

Sangfor Network Secure is a Next Generation Firewall (NGFW) offering comprehensive and reliable protection for your organization's network and systems. Its key values include cost-effectiveness, AI and TI-powered security, effortless security operations, and unique features such as cloud deception, WAF, and so on. Sangfor Network Secure is recognized as a ‘Visionary’ vendor in 2022 Gartner Magic Quadrant for the 2nd consecutive year, 8th year in Gartner Magic Quadrant for Network Firewalls, ‘Voice of the Customer’ in Customers Speak through Gartner® Peer Insights™. It is crowned as the 2023 Asia-Pacific Next Generation Firewall Company of the Year by Frost & Sullivan.

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Next-Generation Firewall (NGFW)

Sangfor Cyber Command: Network Detection and Response (NDR) Solution

The groundbreaking network detection and response solution from Sangfor, Cyber Commandprovides automated responses to threats that infiltrate your system. It bolsters an organization's IT security through vigilant monitoring of all network traffic, correlating security events from various sources, and applying AI-based network traffic analysis and behavior analysis, all aided by global threat intelligence. Gartner has recognized Sangfor Technologies with Cyber Command as a representative vendor for NDR in its Market Guide for the second time in a row.

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Cyber Command NDR

Sangfor Endpoint Secure: Endpoint Protection Platform (EPP)

Sangfor Endpoint Secure is a potent ransomware prevention solution as it installs advanced ransomware honeypot technology to quickly identify and kill file encryption processes before major damage is done. It detects suspicious ransomware-related processes and blocks them in as little as 3 seconds to ensure minimal impact on users’ assets. Sangfor Endpoint Secure achieves a detection accuracy rate of 99.83% by deploying ransomware indicators of compromise collected from over 12 million devices.

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Sangfor Endpoint Secure

Frequently Asked Questions

Ransomware is a type of malicious software that encrypts files or locks users out of their systems until a ransom is paid, typically in cryptocurrency. A ransomware attack occurs when a computer or network is infected with ransomware, leading to data encryption or system lockdown until a ransom is paid. Some of the known ransomware examples include WannaCry, NotPetya, Ryuk and so on. Ransomware evolution with advanced techniques for intrusion and ransom extortion is becoming a major threat to organizations worldwide.

There are several different types of ransomwares throughout the ransomware history, each with its unique characteristics and methods of operation. Some of the examples of ransomware types include: 

  • Encrypting Ransomware: CryptoLocker, WannaCry, Locky.
  • Locker Ransomware: Winlocker, Police-themed ransomware.
  • Mobile Ransomware: Android/Simplocker, Pegasus (iOS).
  • Ransomware-as-a-Service (RaaS): Cerber, Satan, Philadelphia.
  • Scareware: Fake antivirus software, tech support scams.
  • Doxware/Leakware: Maze, REvil/Sodinokibi.

Over the evolution of ransomware, cybercriminals have become sophisticated using various methods to infect computers with ransomware. Some common methods include phishing emails, malicious links, exploit kits, malvertising, remote desktop protocol (RDP) attacks, drive-by downloads, file sharing networks, and pirated software.

Some of the most notorious ransomware attacks in ransomware history include: WannaCry attack in 2017 affecting 200,000 computers across 150 countries causing a net loss of $4 billion, NotPetya (Petya) in 2017 causing a loss of $10 billion, Colonial Pipeline attack in 2021 leading to financial losses of $4.4 million, and REvil extorted $200 million between 2019 to 2021.

Ransomware first appeared in the late 1980s, with the earliest documented case being the AIDS Trojan (also known as PC Cyborg) in 1989. This ransomware was distributed via floppy disks and targeted healthcare organizations. The AIDS Trojan encrypted files on infected systems and demanded payment of $189 to a PO Box in Panama to receive a decryption key. Since the first attack, the ransomware evolution has been growing at a faster rate, much faster than what organizations expected.

Early forms of ransomware were relatively simplistic compared to modern variants. Because of the evolution of ransomware over time, they have become more sophisticated and widespread, with advancements in encryption algorithms, distribution methods (such as email phishing and exploit kits), and ransom payment mechanisms (such as Bitcoin and other cryptocurrencies).

  • Conducting regular risk assessments and audits to ensure compliance.
  • Ensure proper logging, monitoring, and reporting mechanisms.
  • Updating privacy policies and cookie policies to collect data securely.
  • Providing essential support for users wishing to opt out of providing specific information.
  • Investing in managed cybersecurity platforms and expertise to maintain compliance. 
  • Encouraging a culture of transparency and responsibility in the workplace to reinforce positive behavior.
  • Educating employees on compliance policies and keeping them up to date with any changes.

Organizations cannot fight off the wave of ransomware on their own. This is precisely why many countries have organizations dedicated to cybersecurity defense and threat prevention. A key element of this collaboration is fostering a relationship between industry peers to prevent ransomware attacks. This will allow organizations to share threat intelligence and information with peers to mitigate future threats and easily recover.

Organizations should also build a repertoire with their local law enforcement to ensure that authorities are quickly involved in your incident response plan – mitigating legal issues later on and providing a foundation for a criminal case. Organizations should also reach out to agencies dedicated to cybersecurity intervention.

The American Cybersecurity and Infrastructure Security Agency (CISA) offers numerous tools, resources, and services to help identify and protect against cyber-attacks. The agency also collaborates with governments at all levels - as well as international and private sector entities - to share information and collaborate in securing networks on a global scale.