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Ransomware uses asymmetric encryption. This is cryptography that uses a pair of keys to encrypt and decrypt a file. The public-private pair of keys is uniquely generated by the attacker for the victim, with the private key to decrypt the files stored on the attacker’s server. The attacker makes the private key available to the victim only after the ransom is paid, though as seen in recent ransomware campaigns, that is not always the case. Without access to the private key, it is nearly impossible to decrypt the files that are being held for ransom.
Many variations of ransomware exist. Often ransomware (and other malware) is distributed using email spam campaigns or through targeted attacks. Malware needs an attack vector to establish its presence on an endpoint. After presence is established, malware stays on the system until its task is accomplished.
After a successful exploit, ransomware drops and executes a malicious binary on the infected system. This binary then searches and encrypts valuable files, such as Microsoft Word documents, images, databases, and so on. The ransomware may also exploit system and network vulnerabilities to spread to other systems and possibly across entire organizations.
Once files are encrypted, ransomware prompts the user for a ransom to be paid within 24 to 48 hours to decrypt the files, or they will be lost forever. If a data backup is unavailable or those backups were themselves encrypted, the victim is faced with paying the ransom to recover personal files.
Why is ransomware spreading?
Ransomware attacks and their variants are rapidly evolving to counter preventive technologies for several reasons:
Today’s thieves don’t even have to be tech savvy. Ransomware marketplaces have sprouted up online, offering malware strains for any would-be cybercrook and generating extra profit for the malware authors, who often ask for a cut in the ransom proceeds.
Why is it so hard to find ransomware perpetrators?
Use of anonymous cryptocurrency for payment, such as bitcoin, makes it difficult to follow the money trail and track down criminals. Increasingly, cybercrime groups are devising ransomware schemes to make a quick profit. Easy availability of open-source code and drag-and-drop platforms to develop ransomware has accelerated creation of new ransomware variants and helps script novices create their own ransomware. Typically, cutting-edge malware like ransomware are polymorphic by design, which allows cybercriminals to easily bypass traditional signature-based security based on file hash.
What is ransomware-as-a-service (RaaS)?
Ransomware-as-a-service is a cybercrime economic model that allows malware developers to earn money for their creations without the need to distribute their threats. Non-technical criminals buy their wares and launch the infections, while paying the developers a percentage of their take. The developers run relatively few risks, and their customers do most of the work. Some instances of ransomware-as-a-service use subscriptions while others require registration to gain access to the ransomware. Learn more about ransomware-as-a-service.
How to defend against ransomware
To avoid ransomware and mitigate damage if you are attacked, follow these tips:
9 steps for responding to a ransomware attack
If you suspect you’ve been hit with a ransomware attack, it’s important to act quickly. Fortunately, there are several steps you can take to give you the best possible chance of minimizing damage and quickly returning to business as usual.
Why shouldn’t I just pay the ransom?
When faced with the possibility of weeks or months of recovery, it might be tempting to give in to a ransom demand. But there are several reasons why this is a bad idea:
Solutions to address the ransomware threat
Aegisys Cloud Solutions uses BitDefender products which leverage a number of technologies that help prevent ransomware.
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Rick is the founder of Aegisys Cloud Solutions. Rick is involved in all aspects of Aegisys Corporate and is a core mentor in the provisioning of IT Support services including hosting, database management, and web provisioning. When not in the office Rick can be found fishing, walking his dog or spending time with family.
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