As cybercriminals continue to evolve their tactics, ransomware has emerged as a dominant threat in the digital world. This malware locks down systems and data, demanding a ransom for their release. Despite its long history, ransomware has seen a recent surge in popularity, affecting organizations across various sectors.
This blog examines the origins, notorious attacks, and current ransomware landscape, highlighting how organizations can better defend against this growing menace.

A Brief History of Ransomware
Ransomware isn't new; it has been a cybersecurity threat for decades. The earliest known attack was the AIDS Trojan horse in 1989. Distributed via floppy disks at an AIDS conference, it encrypted files and demanded a $189 ransom to unlock them. Though this early attack was relatively unsophisticated and quickly reversed, it laid the groundwork for the more complex and destructive ransomware strains.
Notable Ransomware Attacks
CryptoLocker (2013): This strain became infamous due to its use of the Gameover ZeuS botnet, spreading rapidly and causing widespread damage until it was neutralized by international cybersecurity efforts in 2014.
Cerber (2016): Cerber revolutionized ransomware with its ransomware-as-a-service (RaaS) model, allowing less-skilled hackers to rent the ransomware and share in the profits.
Locky (2016): Primarily targeting healthcare institutions, Locky was linked to the notorious Dridex hacking group.
Petya & NotPetya (2016–2017): The Petya family, particularly the NotPetya variant, caused over $10 billion in damages across Europe and the U.S. in 2017 alone.
WannaCry (2017): A global attack that infected over 230,000 computers in 150 countries within a single day, WannaCry's damage was estimated at $4 billion.
DarkSide (2020): Responsible for high-profile attacks like the 2021 Colonial Pipeline incident, DarkSide's RaaS model targeted corporations, leading to massive operational shutdowns.
The Growth of Ransomware: Why It's So Popular
The rise in ransomware attacks can be largely attributed to the Ransomware-as-a-Service (RaaS) model. Under RaaS, developers license ransomware to other cybercriminals who execute the attacks. This model has two significant benefits for attackers:
Ease of use for non-technical attackers: Attackers don't need to write their ransomware code; they can rent existing tools.
Profit sharing for developers: The ransomware developers earn a percentage of every successful attack, making it a lucrative business.
As ransomware technology has evolved, so have the demands of ransom. Where the AIDS Trojan asked for $189, today's attackers often demand millions from their victims.
Ransomware Trends
Annual increase in attacks: In 2021 alone, there were 135 publicly reported ransomware attacks—an exponential increase compared to earlier years.
Common targets: Government, healthcare, technology, and academic institutions accounted for 57% of all attacks, with the tech sector seeing the most rapid increase in recent years.
Biggest payouts: Companies like CNA Financial Group and JBS made headlines in 2021 for paying multi-million dollar ransoms—$40 million and $11 million, respectively.
High-Profile Ransomware Payouts
CNA Financial Group ($40 million): One of the largest ransomware payments ever, CNA Financial was forced to pay this ransom following a breach by Russian hacker group Evil Corp.
JBS ($11 million): After the REvil group attacked, the world's largest meat supplier paid a ransom to prevent sensitive data leaks.
Colonial Pipeline ($4.4 million): DarkSide's attack on this critical infrastructure led to fuel shortages across the U.S. East Coast, ultimately resulting in a multi-million dollar payout.

Why Are Companies Vulnerable?
Ransomware thrives on vulnerabilities—outdated software, weak passwords, or phishing attacks. Attackers exploit any available entry point to deploy their ransomware. Some common attack vectors include:
Phishing: Malicious emails trick users into downloading malware or divulging login credentials.
Remote Desktop Protocol (RDP): Hackers exploit RDP using stolen or weak credentials to access systems remotely.
Software vulnerabilities: Unpatched or outdated systems are prime targets for ransomware attacks, as hackers can exploit security gaps.
Should Companies Pay the Ransom?
Though some organizations pay ransoms in a desperate attempt to regain access to their systems, experts generally advise against this approach for several reasons:
No guarantee: Paying the ransom doesn't always result in data restoration; some ransomware strains, like certain versions of Petya, can't be decrypted even if the ransom is paid.
Encouraging future attacks: Paying a ransom validates the attacker's efforts and funds further ransomware development.
Ransomware Prevention and Defense
Organizations must adopt a multi-layered approach to defend against ransomware attacks. Key strategies include:
For Organizations:
Employee training: Teach employees to recognize phishing attempts and avoid weak passwords.
Backup systems: Regularly backup critical data and store backups offline to prevent ransomware from reaching them.
Layered security: Implement network security, endpoint protection, and data encryption to safeguard against intrusions.
Update software: Regularly update and patch systems to close vulnerabilities.
For Individuals:
Regular backups: Store essential data in the cloud or on offline devices.
Use strong passwords: Avoid common passwords and implement two-factor authentication.
Avoid suspicious emails and links: Be cautious when clicking links or downloading attachments from unknown sources.
Use security software: Protect devices with antivirus and anti-ransomware software.
Ransomware is evolving rapidly, with attacks growing in both frequency and severity. By understanding how ransomware operates and following best defense practices, organizations, and individuals can better protect themselves from this rising cyber threat.
Hungry for more? Join me each week, where I'll break down complex topics and dissect the latest news within the cybersecurity industry and blockchain ecosystem, simplifying the tech world.
Comments