Ransomware

In this article we cover off some basic facts about Ransomware and go over some recent well-known widespread attacks. 

What is Ransomware? 

Ransomware is a malicious piece of software that infects your computer, encrypts all your data, and then displays messages demanding a fee to be paid in order for you to access it again. 

This type of malware is a moneymaking scheme used by cyber-criminals that can be installed through deceptive links in an email message, instant messaging, URL’s, or clickable links on websites. 

Ransomware is just one of the malware types attributed to the multi-billion-dollar cybercrime industry that now dwarfs the profits from the illegal drug trade. 

How does ransomware spread? 

There are several ways that ransomware can get into computers. 

Email is one of the most common ways in. Hackers will send bad files that can trigger a ransomware infection when opened and quickly spread across your network.  

Another favorite way to spread ransomware is to send bad URL links that download ransomware when they are clicked. This ‘drive-by downloading’ can happen without anybody noticing that anything has happened until it is too late. 

These bad files and links are not always easy to spot. Cybercriminals are getting increasingly sophisticated in the ways they try to persuade people to do what they want them to do.  

A growing trend is for cybercriminals to pose as trusted people, like a client, a colleague, or a friend, and ask you to do something urgently before you have the time to think things through. 

This is not a modern crime. Ransomware’s been around for years. 

Ransomware dates to the late 1980s when payment was often sent by cheque through the mail! 

Now, modern hackers normally demand payment in cryptocurrencies that make them much more difficult to track. 

Two infamous ransomware attacks 

WannaCry 

The WannaCry ransomware attack took over the news when it spread widely in 2017. 

More than 200,000 computers in over 100 countries were left useless. The ransomware exposed weaknesses in critical IT systems, like those in hospitals and factories. 

One of the worst-hit victims was the National Health Service (NHS) in the UK. Operating theatre equipment, MRI scanners, and other computers essential for hospitals were left useless and patients suffered. 

NotPetya 

NotPetya is less well-known than WannaCry but the financial costs are estimated to have been far higher. 

Mainly spread among businesses due to the early infection of a major financial software vendor, the cost of this ransomware is estimated to have been around $10 billion. 

This attack impacted computers around the world. But around 80% of the cases are estimated to have been in Ukraine.