Ransomware: Attacks and Strategies

 What is Ransomware?

Ransomware is a type of malware used by cybercriminals. If a computer or network has been infected with ransomware, the ransomware blocks the access to the system or encrypts its data. Cybercriminals demand ransom money from their victims in exchange for releasing the data.

Ransomware is on the rise.

• Cybersecurity Ventures predicts that by 2031, ransomware will cost victims $265 billion annually, up from $20 billion in 2021, and it will attack one business every 2 seconds, up from every 11 seconds in 2021.

• 66 percent of surveyed organizations say they were hit by ransomware in the last year.

• IBM Cost of a Data Breach Report 2023 finds that the global average cost of a data breach is $4.45 million. 

Types of Ransomware

There are several types of ransomware attacks but most common attacks are these two:

1. Locker ransomware. 

This type of malware blocks basic computer functions. For example, you may be denied access to the desktop, while the mouse and keyboard are partially disabled. This allows you to continue to interact with the window containing the ransom demand in order to make the payment. 

Apart from that, the computer is inoperable. But there is good news: Locker malware doesn't usually target critical files; it generally just wants to lock you out. Complete destruction of your data is therefore unlikely.

2. Crypto ransomware. 

The aim of crypto ransomware is to encrypt your important data such as documents, pictures and videos, but not to interfere with basic computer functions. This spreads panic because users can see their files but cannot access them. 

Crypto developers often add a countdown to their ransom demand: "If you don't pay the ransom by the deadline, all your files will be deleted." and due to the number of users who are unaware of the need for backups in the cloud or on external physical storage devices, crypto ransomware can have a devastating impact. 

Consequently, many victims pay the ransom simply to get their files back.

7 Steps to Help Prevent & Limit the Impact of Ransomware

Ransomware attacks are widespread and harmful. They lock your data and demand a ransom. Here are seven steps to protect against them:

1. Backup Your Data Securely

• Create backups of important data.

• Store them offline or in the cloud.

• Test backups to ensure they're clean.

2. Develop Plans and Policies

• Make an incident response plan.

• Define roles and communication during attacks.

• Establish a suspicious email policy.

3. Review Port Settings

• Consider closing unused ports.

• Limit connections to trusted hosts.

• Review settings for on-premises and cloud environments.

4. Harden Your Endpoints

• Configure systems securely.

• Reduce security gaps with CIS Benchmarks.

5. Keep Systems Updated

• Regularly update operating systems and software.

• Enable auto-updates for security patches.

6. Train Your Team

• Provide security awareness training.

• Teach employees to spot malicious emails.

7. Implement an IDS (Intrusion Detection System)

• Use IDS to detect malicious activity in network traffic.

• Ensure IDS signatures are updated regularly.

• Consider using Albert Network Monitoring for SLTT organizations.

How to Protect Against Ransomware With a 3-2-1-1 Strategy

3: Store 3 copies of data — 1 original plus 2 backups.

2: Store data on at least 2 types of storage media.

1: Store 1 copy of data remotely.

1: Store 1 copy of data in an air-gap isolation zone.

Three Copies of Data: First and foremost, make three copies of your data. This ensures that you have multiple backups at your disposal, so even if one becomes compromised, you still have two others as a safety net.

Two Different Media Types: Store your backups on two separate media types. For example, use both cloud storage and external hard drives.  Please don't consider the combination of an internal disk and a USB disk to be different media types.  A USB drive is just as vulnerable as the internal disks.  Multiple disk-based copies are only using one type of media. Consider Cloud and Tape solutions for the second backup media. 

One Copy of Data in an Off-site Location or Remotely: Keep one of your backups off-site. This means that even if your primary location falls victim to a ransomware attack or other disaster, your data remains safe and accessible. Consider using a secure, remote backup service for optimal protection.

One Air-Gapped Backup OR one copy of backup stored on Immutable Media: One backup copy of your data must be immutable. Immutable backups are saved in a write-once-read-many-times (WORM) format that can’t be altered or deleted, even by hackers or admins.

11 Biggest Ransomware Attacks in History

1. ExPetr / NotPetya

• Year: 2017

• Attack Type: Ransomware (wiper)

• Notable Targets: Maersk and Merck

• Estimated Damage: $10 billion

• Key Detail: Exploited an SMB vulnerability, designed for destruction.

2. WannaCry

• Year: 2017

• Attack Type: Ransomware (SMB vulnerability)

• Notable Targets: Global attack

• Estimated Damage: $4 billion

• Key Detail: Used EternalBlue, affected 200,000+ computers.

3. GandCrab

• Year: 2018-2019

• Attack Type: Ransomware-as-a-service (RaaS)

• Estimated Extortion: Over $2 billion

• Key Detail: Ransomware sold to affiliates, primarily spread through phishing and exploit kits.

4. Locky

• Year: 2016-2018

• Attack Type: Ransomware (phishing emails)

• Estimated Damage: $1 billion

• Key Detail: Delivered via malicious Word documents, targeted healthcare providers.

5. Ryuk

• Year: 2018-present

• Attack Type: Ransomware (usually via TrickBot)

• Estimated Extortion: Over $150 million

• Key Detail: Manually deployed, extensive network compromise before encryption.

6. REvil/Sodinokibi

• Year: 2019-2021

• Attack Type: Ransomware (exploited vulnerabilities)

• Notable Targets: Kaseya, JBS

• Key Detail: Known for double extortion, attacked Kaseya supply-chain.

7. DoppelPaymer

• Year: 2019-present

• Attack Type: Ransomware (spear-phishing)

• Estimated Damage: Tens of millions

• Key Detail: Manually delivered, uses multi-threading for faster encryption.

8. SamSam

• Year: 2016-2018

• Attack Type: Ransomware (manual deployment)

• Estimated Damage: Over $6 million in ransom payments

• Key Detail: Manually deployed, targeted healthcare and government sectors.

9. NetWalker/UCSF

• Year: 2020

• Attack Type: Ransomware (phishing, VPN vulnerabilities)

• Notable Target: University of California, San Francisco (UCSF)

• Estimated Damage: Tens of millions, $1.14 million ransom from UCSF.

10. Colonial Pipeline

• Year: 2021

• Attack Type: Ransomware (phishing, VPN exploitation)

• Target: Colonial Pipeline

• Ransom Paid: $4.4 million in Bitcoin

• Key Detail: Largest publicized cyber-attack on US critical infrastructure.

11. CryptoLocker

• Year: 2013-2014

• Attack Type: Ransomware (Trojan Horse)

• Estimated Damage: Approximately $3 million in ransom payments

• Key Detail: Used advanced encryption, decentralized infrastructure.

How Cybersecurity is implemented in Circular Economy

 Information is the brand new forex today. Cybersecurity has become a paramount difficulty for corporations and individuals alike. Simultaneously, the idea of the circular economic system is gaining a grip as a sustainable approach to useful resource control and waste reduction. While these fields may additionally appear unrelated at first look but in depth they are a giant intersection where cyber assurance platforms like xIoTz play a critical function.

 In this blog, we'll explore the connection among cybersecurity and the round economic system and how xIoTz cyber assurance platform contributes to each of these domains.

What is a circular economy and its benefits

The round economy is an economic model that aims to reduce waste and make the most of sources. Unlike the traditional linear economy, which follows a "take, make, dispose" sample, the circular economic system focuses on maintaining products and materials in use for as long as viable through strategies that includes recycling, refurbishment, and reusing.

The circular economy gives numerous benefits such as:

Resource Efficiency: It reduces the intake of finite assets through extending the life of products and materials.

Waste Reduction: It minimizes waste generation and landfills, contributing to a cleanser environment.

Economic Growth: It fosters innovation and task advent, selling sustainable financial increase.

Environmental Conservation: It reduces the environmental effect of production and consumption.

Resilience: It creates an extra resilient supply chain through reducing dependence on scarce assets.

What Cybersecurity Can Learn From the Circular Economy?

As the round economic system gains momentum, businesses are making high dependency on digital technology and facts-driven approaches to optimize aid management. This virtual transformation brings with it new cybersecurity challenges:

Data Security: Circular financial system projects generate considerable amounts of records, along with information about product existence cycles, supply chains, and purchaser interactions. Protecting this information from cyber threats is paramount.

IoT Devices: The Internet of Things (IoT) plays a big position in monitoring and optimizing useful resource use within the financial system. However, IoT gadgets are prone to cyberattacks that can disrupt operations or compromise records integrity.

You can refer to our blog Cyber Security for Internet of Things to know more.

Supply Chain Vulnerabilities: Circular economic system practices often contain complicated delivery chains with more than one stakeholders. Weak links in these chains can be exploited by way of cybercriminals mainly to security breaches.

Privacy Concerns: The circular economic system may involve the collection of personal records from purchasers. Ensuring the privacy and security of this information is critical to maintain acceptance as truth.

The Role of xIoTz's Cyber Assurance Platform

xIoTz, a leading participant within the cyber warranty enterprise, performs a vital function in addressing these cybersecurity demanding situations in the context of the circular financial system. Here's how:

Security Operations Center (SOC) 

SOC deals with cyber threats and data protection within the round economy. xIoTz steps in by way of giving real-time chance updates, dealing with incidents robotically, and maintaining a close watch to shield records and preserve matters stable.

Network Operations Center (NOC) 

NOC's process is to maintain the round financial system network secure from cyber risks. XIoTz supports NOC with strong cybersecurity equipment, spotting troubles, and stopping network disruptions.

Threat Operations Center (TOC) 

TOC fights advanced threats that would harm the round financial system. XIoTz equips TOC with the modern day risk data, clever gear, and automated responses to tackle new cyber dangers proactively.

Next-Gen Vulnerability Management (NGVM) 

NGVM seems to fix weaknesses in circular economy digital stuff. xIoTz without difficulty connects with NGVM, imparting particular tests, recommendations on what to restore first and how to keep round financial system techniques safe.

EXtended Operations Center (XOC) 

XOC works throughout the round economic system, wanting a crucial spot to manipulate cybersecurity. xIoTz steps in, giving one vicinity to control cybersecurity efforts, control incidents, and ensure teams paint collectively to keep circular economy strategies secure.

Continuous Compromise Assessment (CCA)

CCA maintains an eye fixed on systems to discover any troubles that might compromise the round economy. xIoTz boosts CCA with rapid hazard recognizing, locating unusual matters, and acting quickly to forestall new cyber issues and hold circular economic system operations steady.

Case Study: Circular Economy and Cybersecurity in Action

Let's look at a hypothetical case examine to illustrate the importance of cybersecurity within the circular economy and the function of xIoTz:

Scenario: A multinational enterprise has implemented a round economy approach to refurbish and resell its electronic products at the cease of their lifecycle. This involves gathering used gadgets, refurbishing them, and reselling them to clients.

Sustainable Development and Cybersecurity Challenges:

Data Security: The company collects data about the devices, which include their condition and records to ensure excellent management throughout refurbishment. This information ought to be covered from unauthorized get admission to or leaks.

IoT Devices: IoT sensors are embedded within the devices to monitor their overall performance and circumstance at some stage in use and refurbishment. These devices need to be secured towards tampering or exploitation.

Supply Chain Vulnerabilities: The round financial system technique entails multiple suppliers, refurbishment centers, and distribution channels. Any protection weaknesses in those tiers could result in statistics breaches or the creation of compromised gadgets into the market.

xIoTz's Solution:

Data Encryption: xIoTz guarantees that all facts gathered from devices and the delivery chain is encrypted both in transit and at rest defending it from interception or unauthorized entry to.

IoT Device Security: xIoTz deploys safety protocols for IoT gadgets which include regular vulnerability tests and actual-time monitoring to stumble on and respond to any anomalous behavior.

Supply Chain Assessment: xIoTz conducts normal cybersecurity exams of the complete supply chain figuring out vulnerabilities and presenting guidelines for development. This ensures that each one of the stakeholders holds a high stage of security.

Compliance Monitoring: xIoTz continuously video display units compliance with records protection guidelines making sure that the enterprise adheres to criminal requirements and safeguards customer privacy.

Threat Intelligence: xIoTz's hazard intelligence competencies proactively hit upon and respond to rising cyber threats that might affect the circular economy procedure.

Conclusion

The round financial system affords a promising route in the direction of sustainable resource control and environmental conservation. However as groups increasingly more depend on virtual technologies and information of their circular economic system tasks, cybersecurity becomes paramount. 

xIoTz performs a pivotal role in ensuring the safety and integrity of information and operations inside the circular economic system safeguarding organizations, consumers and the environment.

By addressing cybersecurity demanding situations and offering complete protection for statistics, IoT gadgets, and delivery chains, xIoTz empowers corporations to include the circular economy version with self belief.

As the circular economic system keeps to conform, xIoTz remains at the vanguard helping organizations navigate the complicated intersection of sustainability and cybersecurity in the long run contributing to a greater resilient and stable round economy environment.

Cyberbullying and Ways to Stop It

 Technology is everywhere in our lives, connecting us and making things easier. But there’s also a dark side to it - cyberbullying. It’s not just a cruel word. Sharing personal information without permission violates privacy.

What is cyberbullying?

Cyberbullying is a form of bullying that takes place over digital devices such as computers, smartphones, and tablets. It involves using technology to harass, threaten, or harm others by sending hurtful messages, sharing personal information without consent, spreading rumors, or engaging in other hurtful online behaviors. 

Cyberbullying can occur through various platforms, including social media, messaging apps, email, and online gaming. It can have severe emotional and psychological effects on the victims and is a concerning issue in the digital age.

10 facts about Cyberbullying

1. About 37% of young people between the ages of 12 and 17 have been bullied online. 

2. 95% of teens in the U.S. are online and the vast majority access the internet on their mobile device, making it the most common medium for cyber bullying.

3. 23% of students reported that they’ve said or done something mean or cruel to another person online. 27% reported that they’ve experienced the same from someone else.

4. Girls are more likely than boys to be both victims and perpetrators of cyber bullying. 15% of teen girls have been the target of at least four different kinds of abusive online behaviors, compared with 6% of boys.

5. About half of LGBTQ+ students experience online harassment -- a rate higher than average.

6. Instagram is the social media site where most young people report experiencing cyberbullying with 42% of those surveyed experiencing harassment on the platform.

7. Young people who experience cyberbullying are at a greater risk than those who don’t for both self-harm and suicidal behaviors.

8. 60% of young people have witnessed online bullying. 

9. Only 1 in 10 teen victims will inform a parent or trusted adult of their abuse.

10. 4 out of 5 students (81%) say they would be more likely to intervene in instances of cyberbullying if they could do it anonymously.

What To Do When Your Child is Cyberbullied: Top Ten Tips

If you found out that your child is cyber bullied, here’s what you can do:

1. MAKE SURE YOUR CHILD FEELS SAFE. 

The safety of your child should always be the first priority. Parents should sit with their child and give moral support through words and actions and motivate them.

2. TALK AND LISTEN TO YOUR CHILD. 

Listen to your child about the problems calmly and ask what is going on and try to learn things. Don’t get exhausted and  irritated over small things .

3. COLLECT EVIDENCE. 

Try to collect screenshots or recordings of conversations, messages, pictures, videos, and any other items as proof that your child is being cyberbullied. Keep a record of all the events happening in your child’s life.

4. WORK WITH THE SCHOOL. 

Your child has the right to feel safe at school and educators are responsible to ensure this through an investigation and appropriate response.

5. REFRAIN FROM CONTACTING THE PARENTS OF THE ONE DOING THE BULLYING. 

Some parents talk with accusations that their child is engaged in cyberbullying. This is not the proper way and can become more offensive.

6. CONTACT THE CONTENT PROVIDER. 

Cyberbullying violates the Terms of Service of all legitimate service providers. Even if your child can identify who is harassing them, contact the relevant provider. 

7. IF NECESSARY, SEEK COUNSELING. 

If needed, go for counseling because your child may benefit from speaking with a mental health professional. 

8. IF THE BULLYING IS BASED ON RACE, SEX, OR DISABILITY, CONTACT THE OFFICE OF CIVIL RIGHTS. 

The U.S. Department of Education takes these cases very seriously if children are limited or restricted in their ability to learn and thrive at school because of discrimination.

9. CONTACT THE POLICE WHEN PHYSICAL THREATS ARE INVOLVED. 

Most states have laws related to online threats and law enforcement can assist in these cases either informally or formally. If your local department is not helpful, contact county or state law enforcement officials, as they can handle these cases efficiently.

10. IMPLEMENT MEASURES TO PREVENT IT FROM RECURRING.

If your child is being bullied through social media, enable privacy settings within each platform to block the person doing the bullying from contacting them and also file a report.

HelpLine Numbers

You can visit here for helpline numbers to report cyberbullying -  https://www.csrindia.org/helpline-numbers/ 

This website states that “If you or someone you know has or is currently encountering online harassment of any sorts (bullying, cyber stalking, online impersonation, cat fishing, hate speech or threat of violence, cyber predators or trolling), please be assured that you can report these instances on this helpline and sensitive reports can also be kept anonymous.”

You can visit the website for helpline numbers.