What is Ransomware?

✅What is ransomware?

Ransomware is a type of cryptovirological malware that permanently blocks access to the victim’s personal data unless a ransom is paid. While some simple ransomware may lock the system without damaging any files, more advanced malware uses a technique called cryptoviral extortion. It encrypts the victim’s files, making them inaccessible, and demands a ransom payment to decrypt them.

Ransomware attacks are typically carried out using a Trojan disguised as a legitimate file that the user is tricked into downloading or opening when it arrives as an email attachment. However, one high-profile example, the WannaCry worm, travelled automatically between computers without user interaction.

The earliest variants of ransomware were developed in the late 1980s, and payment was to be sent via snail mail. Today, ransomware authors order that payment be sent via cryptocurrency or credit card. Some ransomware authors sell the service to other cybercriminals, which is known as Ransomware-as-a-Service or RaaS.

Globally, there were about 623 million ransomware attacks in 2021, and 493 million in 2022. The losses could be more than that, according to the FBI.

✅How does it work?

Ransomware can infect your system through various means, such as:

🔒Phishing emails and malicious links: Clicking on deceptive links or attachments can unleash the malware.

🔒Unpatched software vulnerabilities: Outdated software with security holes provides easy entry for attackers.

🔒Downloaded software from untrusted sources: Pirated software or shady websites can be Trojan horses carrying ransomware.

🔒Drive-by downloads: Visiting compromised websites can automatically download and install ransomware without your knowledge.

Once infected, the malware encrypts your files, leaving you with unusable data and a ransom message demanding payment in cryptocurrency to regain access.

✅Types of ransomware:

📛Crypto-ransomware: Encrypts individual files, making them unreadable without the decryption key.

📛Locker ransomware: Locks you out of your entire device, preventing any system access.

📛Doomsday ransomware: Threatens to permanently delete your data if the ransom is not paid within a specific timeframe.

✅Impacts of ransomware:

⛔Data loss and inaccessibility: Your essential files become unusable, causing personal and professional disruptions.

⛔Financial losses: Ransom demands can range from hundreds to millions of dollars, depending on the target.

⛔Operational disruptions: Businesses can suffer downtime, productivity loss, and reputational damage from ransomware attacks.

⛔Psychological stress and anxiety: Dealing with a ransomware attack can be emotionally draining and stressful.

✅Protecting yourself from ransomware:

⚔Back up your data regularly: Having backups ensures you can restore your files even if they are encrypted.

⚔Keep your software updated: Patching vulnerabilities closes the doors for ransomware to sneak in.

⚔Be cautious of suspicious emails and links: Don't click on anything you don't trust.

⚔Use antivirus and anti-malware software: These tools can detect and block known ransomware threats.

⚔Implement strong security practices: Use strong passwords, enable multi-factor authentication, and be mindful of suspicious activity.

✅Remember: Paying the ransom doesn't guarantee data recovery and encourages cybercriminals. Report all ransomware attacks to authorities and seek help from cybersecurity professionals.

By staying informed, vigilant, and implementing proper security measures, you can significantly reduce the risk of becoming a victim of ransomware and protect your valuable data from this digital hostage-taker.