Double Extortion Ransomware Attacks

It’s no secret that cybercriminals are constantly trying to improve their methods of targeting victims. As a result, they have also come up with more creative ways of extorting money from their victims. The most common variants of ransomware these days attack the users by asking for payment in exchange for unlocking files and restoring access to them. It’s not an entirely new idea either. In fact, there are examples of cybercriminals using two different techniques at the same time to target even more victims. This technique is known as double extortion and can be quite successful in getting people to pay up – as long as they don’t learn about it too late or are financially incapable of doing so. The first type of double extortion is called simple extortion. This technique involves scaring a victim into paying through fear instead of logic or experience. One example would be threatening to reveal embarrassing photos if the victim doesn’t pay up quickly enough. The second type of double extortion is called extended extortion, and it takes this idea a step further by using an entirely separate attack vector against the same victim but with slightly different goals in mind. By extending an existing attack, we can create a new attack that will cause significantly more damage than our original one did because we will use multiple vectors at once against the same target instead of just one or two smaller attacks.

When was the first ransomware attack?

The first ransomware attack occurred in 1989, which is just one year after the publication of Morris’ paper on computer viruses.

How have ransomware attacks evolved?

It’s safe to say that ransomware attacks have evolved quite a bit in the past few years. Just as cybercriminals have become more creative and experienced, victims have had to get more savvy to defend against these attacks. Contact us to assess your security posture. We can see this evolution across the board concerning double extortion, but it is most noticeable when it comes to the different types of ransomware itself. For example, simple extortion has been replaced by scareware – one type of scareware uses ransomware as a tactic of distraction while another type of scareware completely replaces the original files with new malicious files. In other words, if a victim gets infected by one type of scareware, they will likely end up with two separate problems on their hands because they were tricked into paying twice. An example of the evolution of ransomware is that even government employees are becoming actors in attacks.

What is multiple extortion ransomware?

As the name suggests, this type of ransomware is designed to extort money by using multiple methods at once. For example, in one attack, a victim might be asked to pay up quickly or else have their files deleted. In a second attack, they will be asked again to pay up but this time with an added threat that their computer will become unusable. Both of these methods can cause significant damage and force victims into paying up quickly before more harm is done. This technique is quite effective because it takes advantage of the fear that most people feel when they hear about losing their data and forces them into paying up right away instead of taking more time to research what could happen if they don’t do so.

What is the worst ransomware attack ever?

The worst ransomware attack ever was in 2016 when the WannaCry ransomware attacked computers in over 100 countries. Over 230,000 victims paid a ransom of $300 to restore their devices after they had been locked by the malware. The attack was so widespread that it stopped functioning less than two days later due to low demand. Other types of double extortion are also effective in targeting their victims. For example, one group of hackers used a second vector called UTP/Internet Banking Fraud to target individuals who were interested in online banking. They were able to steal money from these individuals by convincing them that their bank had been hacked and then asking for payment through PayPal, credit card, or some other form of payment, even requests for gift cards which showed the skill of their low level affiliates. This group went on to steal over $100 million dollars before the technique was eventually discovered and shut down by authorities. Showing people how easy it is for cybercriminals to take advantage of them is what can help protect people from these attacks. If more people realized that these techniques are typically successful and make use of them against others, they would be much less likely to fall victim to them again.

How can organizations protect themselves from ransomware threats?

To make sure that their business doesn’t become a victim of ransomware, companies can implement certain practices to protect themselves from threats. First, it’s important for businesses to have a backup plan in the event that they run into ransomware problems. This includes having redundant backups of data and systems. Additionally, by using cloud storage, companies can keep all their data safe even if they encounter ransomware problems. Other practices that organizations can adopt include implementing software updates often, monitoring file access and usage activity on your website and network, as well as implementing security measures like two-factor authentication.

FAQs

How will I know if I am a victim of ransomware?

It’s not always easy to know for sure if you have become a victim of ransomware. Sometimes the warning signs are obvious, but other times they are hard to recognize. If you notice your files or important files being encrypted, it’s best to contact a reliable and trustworthy computer support service. They will be able to help you regain access to your files and data.

What is a reasonable amount to pay to regain digital assets?

There’s no real answer to this question as it depends on a number of different factors. However, here are some general guidelines. Firstly, you should try to avoid paying any ransom whatsoever. Ransomware is designed to be a profitable business model and if you pay, you not only make cybercriminals richer, but they become even more motivated to continue attacking you. Secondly, the price you are expected to pay should be reasonable. Unless you really have no choice, try to find a middle ground between the extortionist’s demand and your own financial resources; the more communication you have with them, the greater the risk they have of capture. Finally, remember that the bottom line is that paying does not guarantee that your files will be unlocked. In fact, chances are that they won’t be because cybercriminals are in great demand and can easily afford to put their resources toward other targets. It’s far better to have ironclad security to begin with than paying millions in cryptocurrency to a ransomware group.

What is the best way to secure my data against ransomware?

There are a number of ways to protect yourself against ransomware and other types of malware. The best way to protect yourself against ransomware is to keep your software up-to-date, as well as make sure your antimalware and antivirus protection are all enabled on your system. Having a security assessment by our cybersecurity team is the best way to protect your assets. Additionally, make sure you have up-to-date backups of your data. Finally, keep your network secure by using strong passwords and limiting access to only authorized users.