Shocking facts regarding ransomware revealed double and triple ransomware on the rise

Malicious hackers have used specialized software to infiltrate every field, earning incalculable sums in ransom. Not only does the latest research of ransomware victims reveal the absence of honesty of ransomware operators, but in the majority of cases, the blackmail merely proceeds even after it has been paid.

Numerous reasons result in a low trust in ransomware attackers' false commitments to the targets:

• RaaS (Ransomware as a service) operations are typically small, therefore their main goal is to maximize earnings in the quickest time making them uninvolved with their lengthy status.

• Many rebellious members do not follow the regulations established by the main malware controllers, and forceful implementation of rules is rare by these organizations.

• Although the information isn't instantly revealed, the traces of privacy violations can be held in a separate malware attacks network for a lot longer and most often work their way to the larger cyber-crime network inevitably.

Venafi, an information security firm, performed a study and deduced the following results from the participants:

• The record of 18% of companies despite payment was published on the black market.

• The hackers tried to kidnap their users after they declined to pay the ransom.

• Despite paying, 35% of victims failed to recover their material.

As pointed out by Venafi, giving ransom simply encourages fraudsters to come back for more because it conveys the message that the sufferer considers this as the simplest option to get out of trouble, although it is a lie.

Kevin Bocek, Venafi's vice president said that companies are usually unable to deal with the blackmailing for data recovery, consequently, they give a ransom. But this just encourages hackers to demand further.

The shocking news is that hackers persist threatening despite the ransom payment which throws CISOs under a great deal of stress since a single attempt is far more certain to result in an entire network outage harming users.

To sum up, fraud practices used by ransomware actors are described as follows:

• Two-fold and threefold exploitation were done in 83% of all effective ransomware attempts.

• Cybercriminals warned to use hacked information to blackmail customers in 38% of incidents.

• Ransomware attackers warned to reveal hacked information on the darknet in 35% of cases.

• In 32% of attempts, the victims were blackmailed with instant reporting of the data theft to their clients.

This isn't shocking or new, but the exact statistics allow people to truly understand the severity of the situation. As these cybercrimes become more prevalent, businesses must evaluate their vulnerabilities and security policies, as well as be equipped to answer back to hackers' objectives.

The safest approach is to rely on protection. Working to make sure that vulnerabilities are fixed as quickly as possible, teaching the staff on safety practices, and making clear that vital protections such as lowest access and cross-verification have been applied.

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