New Research Indicates Ransomware Attacks Resurgence

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A recent report conducted by Black Kite, a cyber risk intelligence firm, provides detailed insights into ransomware attacks from April 2022 to March 2023. The findings reveal a major ransomware resurgence this year, with the number of victims in March nearly double that of last April.

“While there were some signs of ransomware decreasing last year due to increased pressure from law enforcement and several ransomware groups shutting down, the last few months serve as a stark reminder that we are far from being in the clear,” said Bob Maley, CSO at Black Kite.

“As more ransomware groups exploit vulnerabilities in third-party vendors, businesses will be blindsided unless they continuously monitor their extended ecosystem for susceptibility indicators and the earliest warning signs of risk.” Maley explained.

Key findings include, according to summary by securitytoday.com:

Ransomware attacks resurged in early 2023, with new players and ransomware gangs joining the field and major players like Lockbit and Clop executing mass-ransomware attacks.

The top targeted industries were Manufacturing (19.5%), Professional, Scientific, and Technical Services (15.3%), and Educational Services (6.1%).

The United States was the top targeted country, accounting for 43% of victim organizations, followed by the UK (5.7%) and Germany (4.4%).

Ransomware groups tend to target companies with annual revenues of approximately $50M to $60M, with third-party vendors often being targeted for client information extortion.

Common ransomware susceptibility indicators among victims included poor email configuration, recent credential leaks, public remote access ports, out-of-date systems, and IP addresses with botnet activity.

Encryption-less ransomware is on the rise, underscoring the importance of data protection and regulatory compliance in addition to addressing business interruption risks posed by traditional encryption-based attacks.