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UNDERSTANDING RANSOMWARE IN THE ENTERPRISE
Ransomware is a form of malicious software that ,
when deployed on a device , encrypts a user ’ s sensitive data . In order to secure a decryption key or initiate a decryption process , the victim is required to pay a ransom to the attacker , usually in the form of cryptocurrency such as Bitcoin . and management . When attackers had to rely on more tangible means of payment through legitimate conduits like Western Union , Perfect Money and wire transfers , there was far more risk involved . These payment systems were easily traceable and prone to various points of failure .
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The amount demanded by attackers can vary , with ransoms typically in the range of US $ 200 to over US $ 10,000 per endpoint , depending on the size of the enterprise and the value of the data held for ransom .
Ransomware , in concept , can be traced back to the late 1990s and early 2000s with the rise in popularity of ‘ FakeAV ’ or fake system utilities which ‘ find ’ false infections or non-existent system issues , then demand ( aka extort ) fees in order to enable ‘ removal ’ of these fake artifacts . Eventually , these morphed into threats like PGPCoder and similar .
These threats have much in common with modern ransomware , but there was still a weakness in the chain in the form of payment collection , processing ,
The rise of cryptocurrency was the answer ransomware and other malware developers had been waiting for . Bitcoin and similar technologies allow for a far simpler , more streamlined and dynamic payment architecture for criminals , who could now use these Blockchain-based currencies to control ransom demands over time , and collect and manage all payments digitally . Bitcoin , Litecoin , Monero and others also greatly obfuscate transactions , making it more difficult for law enforcement to tie transactions directly to individuals .
Once cybercriminals fully embraced cryptocurrencies , ransomware was propelled into the model we see today . Aside from demanding payment to decrypt files , ransomware operators may also threaten to
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