【Ransomware Attack】Latest Attacks and their prevention
Nov 16, 2022
10 min read
In this article:
Malware is an attack vector installed on a target machine to perform malicious activities over a corporate network and IT devices. A ransomware attack is a malware attack in which the attacker prevents access to files or system data until the victim capitulates to the attacker’s ransom demands. Recent attacks have successfully targeted major financial institutions, federal contractors, industrial control systems, and private sector businesses. Most of such attacks were orchestrated by exploiting inherent vulnerabilities of the tech stack.
This article discusses a ransomware attack, recent attack examples, vulnerabilities, and prevention practices to mitigate such attacks.
What is a Ransomware Attack?
A ransomware attack involves encrypting critical system files and data to expose or block access unless the victim pays the ransom money. In this form of an attack, the threat actor maintains the secrecy of the decryption key until ransom payments are made. In instances where the victim of ransomware does not pay on time, the ransom demand is typically increased, or the victim loses access to their data forever.
A recent study also observed that victims who paid ransom are susceptible to repeat attacks orchestrated through the exact attack vector. As a precaution, although Federal officials, security teams, and other law enforcement agencies warn against paying the