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Ransomware attacks dominate news coverage of the cybersecurity industry. And it’s no wonder – with million-dollar payouts, infrastructure attacks and international manhunts, ransomware makes for exciting headlines. But its recent domination of the airwaves has been a long time coming.
“The first types of ransomware have existed for quite some time, going all the way back to the early 2000’s,” says Grayson Milbourne, security intelligence director at Carbonite + Webroot. Going through the history of ransomware, Grayson notes that it started as small time swindles “with the goal of getting you to pay 50 bucks.”
Evolving Threats
The ransomware we see today has evolved over the last 20 years to become the monster seen in news headlines. Instead of petty crooks, we now see criminal gangs that combine ransomware with worm-like capabilities that utilize a double extortion method.
In other words, “ransomware isn’t just a targeted model that you have to click on to fall for. Anybody can be attacked and breached,” explains Tyler Moffitt, senior threat analyst at Carbonite + Webroot.
The New Standard of Ransomware
Hackers not only steal and lock files away, they also leak data in the most damaging way if a ransom settlement is not reached. And the new brand of ransomware spreads through networks and across businesses so you might fall victim even though it was your colleague or business partner that clicked on the wrong link.
These new methods helped skyrocket the average ransom payment to almost $150,000. Even worse, most ransom payments end being around $50,000. The high average payment is buoyed by a few million-dollar ransoms, but most victims are small and medium businesses.
Fighting Back
Luckily, the news isn’t all bad. Yes, ransomware has had years to evolve into the juggernaut it is today. But analysts, security experts and threat researchers have also had time to craft new tools to keep people and businesses safe.
“It’s so much better modernizing your infrastructure up front in the appropriate defense in depth,” says Jon Murchison, CEO of Blackpoint Cyber. For Murchison, security efforts cannot wait until an attack happens, they need to be adopted in advance.
But the right tools, Murchison says “will save you from a bad day or an existential day to your business.”
Cyber-criminals are growing ever more sophisticated and today’s advanced attacks are increasingly difficult to detect. Using techniques that individually look like routine behavior, an attacker may access your infrastructure and remain undetected for months, significantly increasing the risk of a costly data breach.
Bitdefender Cloud Security for MSPs has many capabilities to protect users and networks from both online and offline threats.
Each year the number of cyberattacks and their severity increase. The cost of dealing with an attack can range from tens of thousands of dollars to millions of dollars, not to mention the time involved and damage to your reputation. It has never been more important to keep your computers and users safe with a trusted endpoint security system.
Sophisticated and 0-day ransomware attacks regularly elude conventional AV/AM defenses, causing lost data and productivity or compliance incidents for organizations and affecting MSP costs and reputation.
AV or endpoint protection is not enough to stop new ransomware, 0-day exploits, or fileless attacks.
Bitdefender MSP Security lets Managed Service Providers (MSPs) stop these threats more effectively thanks to the extensive set of hardening, prevention, and detection layers, and the machine learning and behavioral technologies perfected over more than 10 years with data from over 500 million devices.
Unlike other next-gen and EDR solutions, Bitdefender consistently demonstrates better effectiveness in independent real-world security tests.
The Bitdefender unified layered approach stops most threats automatically, before they turn into breaches. Uses a single MSP GravityZone console, integrated with RMM tools, to better protect customers
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