Ransomware is digital kidnapping. Hackers hold your data for ransom. Cyber-extortion has grown in popularity, costing victims millions of dollars. Malicious software can infect your computer, smartphone, or network and encrypt your files, making them inaccessible.

Ransomware exploits system vulnerabilities, tricks you into downloading the malware, or uses phishing scams to gain access. The hacker will demand a ransom to decrypt your data. The cost of recovering from a ransomware attack might range from a few hundreds to hundreds of thousands, depending on the attacking group involved, network size and whether the data is encrypted data.

Common Ransomware Implementation

Ransomware attacks are carried out by the perpetrating groups using different methods. Sometimes the malware is named after the group behind the attack. Some of the common ransomwares are CryptoLocker, WannaCry, Petya, and Locky. In 2017, about 200,000 computers were infected by CryptoLocker and WannaCry across 150 countries. It is also worthy of note that Petya and Locky are very difficult to remove because they use advanced encryption method.

To prevent ransomware, make sure to update your personal and enterprise software and operating systems and apply available patches. Also, use anti-virus and anti-malware, and backup data as frequently as possible. I cant’s overemphasize the warning to avoid clicking on unknown links and suspicious emails. If you’re by any means hit by ransomware, your first option is not to go ahead and pay because you never finish paying. Contact a reliable cybersecurity firm first to get help.

Real-Life Ransomware Attacks

Ransomware attacks are increasing and making headlines. Hollywood Presbyterian Medical Center had to pay a $17,000 ransom to regain control of their computer systems in 2016. The NHS was hit by the WannaCry attack in 2017. Baltimore’s 2020 ransomware attack cost over $18 million in revenue and recovery.

In conclusion, ransomware attacks are growing, but with the right prevention and response strategies, you can protect your data and avoid paying the ransom. Be vigilant and prepared to avoid data theft.