FINAL WORD
Evolution of ransomware
December 2024 marks the 35th anniversary of ransomware and 20 years since modern criminal ransomware first emerged. Over these decades, ransomware has transformed from basic attacks to complex global crimes.
The Cisco Cybersecurity Readiness Index for 2024 reveals that 65 % of UAE organisations experienced a cybersecurity incident in the past year, while 85 % believe that a security incident is likely to disrupt their business in the next 12 to 24 months.
Ransomware began in December 1989 with the AIDS Trojan, which encrypted file names and demanded payment via floppy disks. Its impact was limited due to technological constraints. By 1996, researchers predicted cryptoviruses that would use encryption for extortion, highlighting the importance of robust antivirus protection and regular data backups.
The first major ransomware attack, GPCode, appeared in 2004, targeting Russian users through malicious email attachments. Initially using weak encryption, attackers soon adopted secure public-key encryption, complicating decryption. Collecting payments was a challenge, as methods like bank transfers risked revealing attacker identities.
The advent of virtual currencies addressed this issue, enabling anonymous transactions. Cryptocurrencies like Bitcoin allowed attackers to securely and anonymously collect payments. CryptoLocker, launched in 2013, was one of the first campaigns to successfully utilise Bitcoin, setting the stage for future operations.
High-profile incidents, such as WannaCry in 2017, showcased ransomware’ s destructive potential. WannaCry affected systems by encrypting files but was ineffective as a profit-making tool due to its inability to track payments. Similarly, 2017’ s NotPetya, designed to wipe data, acted as destructive malware rather than true ransomware.
Ransomware’ s impact extends beyond financial losses, disrupting essential services and causing operational chaos. IT teams work under intense pressure to restore systems, risking burnout. For businesses, reputational damage and compliance penalties add to the long-term costs. These consequences highlight ransomware’ s far-reaching effects.
The IT landscape has changed significantly since ransomware’ s inception. Enhanced software engineering and faster patching cycles have reduced vulnerabilities. However, human error remains a major entry point, with password breaches and phishing used as prevalent attack vectors.
The most effective defence remains robust offline backups, allowing data restoration without ransom payments. However, the ongoing threat of ransomware underlines the failure to widely adopt effective backup strategies.
Fady Younes, Managing Director Cybersecurity, Cisco Middle East, Africa, Türkiye, Romania and CIS as they carry out other tasks. They can enable an evergreen digital twin as they operate in all weather and at all times of the day. consultant that understands every single aspect of your business and can offer strategic guidance on future actions, complete with pros and cons.
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In parallel, as developments such as Responsible AI become the foundational driving principles behind our evolving new tech toolkit, we will see intelligent systems consistently defer to humans on big-picture questions.
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As we begin to feel the benefits of semi-automation, future technologies will assist with complex tasks, from analytics to optimisation, but they always work for humans. In common with the original steampowered industrial revolution, humans will always make the final decision. p
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