Ransomware Payments Hit New Records

Ransomware-Payments-Hit-New-Records.

 

The threat of ransomware is increasing. Ransomware had a big year in 2021, with high-profile assaults on governments, healthcare organisations, and enterprises, to name a few. However, ransom payments increased in tandem with ransomware assaults in the same year. Unit 42 at Palo Alto Networks has produced a report on the subject.

Here are some numbers essential for this report

The average ransom demand has risen to $2.2 million, up 144 percent.

The average ransom payment increased by 78% to $541,010 dollars.

The Americas were the most impacted area, accounting for 60% of the total, followed by Europe, the Middle East, and Africa (31%), and Asia Pacific (9%).

A total of 1,100 people were killed in the professional and legal services sector, while 600 people were killed in the construction industry.

On the dark web, there has been an 85 percent spike in posts on name and shame sites.

RaaS grabs the steering wheel

RaaS models, which sell starting kits and support kits to lower entry barriers, were largely responsible for the increase in average ransomware payment.

These business models provide a wealth of simple-to-use tools and services, making ransomware deployment a breeze.

Sugar, a recently discovered ransomware, is being sold as a RaaS to threat actors. It demands $4.01 in Bitcoin as a ransom.

Another RaaS who employs the twofold extortion strategy is BlackCat, called ALPHV. Its ransom demands are in Monero or Bitcoin and vary from a few thousand to $3 million.

Last but not least

The ransomware environment will undoubtedly continue to evolve as new organisations arise and established ones update their arsenals. As a result, appropriate planning is essential for the prevention of these types of assaults. Begin by practising excellent cyber hygiene, implementing security awareness training, and utilising threat intelligence.

By IEMA IEMLabs

IEMLabs is an ISO 27001:2013 and ISO 9001:2015 certified company, we are also a proud member of EC Council, NASSCOM, Data Security Council of India (DSCI), Indian Chamber of Commerce (ICC), U.S. Chamber of Commerce, and Confederation of Indian Industry (CII). The company was established in 2016 with a vision in mind to provide Cyber Security to the digital world and make them Hack Proof. The question is why are we suddenly talking about Cyber Security and all this stuff? With the development of technology, more and more companies are shifting their business to Digital World which is resulting in the increase in Cyber Crimes.

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