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What is Ransomware?
Ransomware is a form of malicious software (malware) designed to encrypt an organization’s critical data—such as databases, emails, files, and documents—and demand a ransom payment, typically in cryptocurrency, in exchange for restoring access. For a ransomware attack to be successful, the malware must first infiltrate the target system, encrypt valuable data, and then initiate the ransom demand.
In recent years, ransomware has evolved into a highly sophisticated attack method, capable of crippling large enterprises, government agencies, critical infrastructure, and healthcare systems.
As a result, the threat of permanent data loss has become one of the most severe risks facing businesses today, emphasizing the need for strong cybersecurity measures and regular data backups.
How Does Ransomware Work?
A ransomware attack typically begins with a security breach—most often through social engineering tactics such as phishing emails, malicious attachments, or exploiting vulnerabilities in the network perimeter. Once inside, the malware spreads laterally through the network, aiming to cause maximum disruption. It often targets the domain controller and seeks out and encrypts data backups, making recovery without payment nearly impossible.
The encryption process can take anywhere from seconds to hours, depending on the volume of data. While users continue to operate their devices normally, the ransomware silently encrypts files in the background. Only after the encryption is complete does the malware reveal itself, usually with a ransom demand displayed on the screen.
What is the Impact of Ransomware?
In 2020, a ransomware attack brought Honda’s global operations to a standstill. The same week, the same type of ransomware, Snake, hit South American energy distributor Enel Argentina. In 2019, hackers infiltrated the computer networks of Pemex, a state-owned natural gas and oil company in Mexico, encrypting all of its files and demanding $5 million to restore service. In 2017, the WannaCry cryptoworm took over 230,000 computers worldwide by exploiting a vulnerability in Microsoft Windows.
Hackers continue to encrypt data by taking over as many computer systems as possible in companies’ networks to extort ransoms ranging from thousands to millions of dollars. Organizations of all sizes are at risk due to outdated technology, lack of adequate defense strategies and training. A ransomware attack occurs every 11 seconds.
How Is Ransomware Spread?
The most popular method of spreading ransomware is through the use of phishing or Phishing Emails. A malicious email or email attachment may contain a malicious download or a link to a website that hosts malware. If the email recipient opens the phishing email, the ransomware is instantly downloaded and executed on their computer.
When a computer on a corporate network is infected with ransomware, it attempts to spread to as many machines as possible throughout the network to maximize the cyberattack. It encrypts data on all the computers it spreads to.
Another popular method of spreading is through Remote Desktop Protocol (RDP) vulnerabilities. With RDP vulnerabilities, a hacker who has access to login credentials uses them to authenticate and remotely access all devices within the corporate network. They download and execute the malware on machines under their direct control.
One of the defining characteristics of a ransomware attack is the encryption of critical data. The attacker encrypts highly valuable files and then demands a ransom in exchange for a decryption key or tool that can restore access to the compromised data.
However, ransomware hackers do not always return the encrypted files even if you pay the ransom.
Protection Methods from Ransomware
- Back up your important data regularly to a secure network device.
- Keep an offsite copy of your backups to ensure data recovery in case of a network-wide attack.
- Use cold storage for data that is not frequently accessed, keeping it disconnected from the main network.
- Avoid opening email attachments or links from unknown or untrusted sources.
- Keep your operating system’s security features updated by installing patches and updates regularly.
- Ensure all applications on your computer are up to date, especially those connected to the internet.
- Use reputable antivirus software, and keep it regularly updated to detect and block threats.
- Implement a firewall on your corporate network to monitor and control incoming and outgoing traffic.
Backup your data securely with Pocket Cloud to stay protected from Ransomware!
None of the Pocket Cloud users affected by ransomware attacks have lost any data. They’ve successfully restored their information through Pocket Cloud, without paying a ransom, and continued working without disruption.
Back up your data with Pocket Cloud Backup Now and focus on growing your business—without the fear of ransomware holding you back.