What is Ransomware Attack?

Oops! Your files are encrypted! Pay the ransom.

Well, did you ever saw these words flash on your screen? If no, you must be thankful for this. When this happens to you, you may be perplexed about what has happened to your computer.

A simple explanation to your baffling is that your files are encrypted because your system was infected with ransomware.

This ransomware attack denies access to your computer and locks up your crucial data, photos, databases, and other files. Cyber thieves kidnap your data and demand a ransom to decrypt the archives or to allow access.

This malicious software is sophisticated designed to extort money from the victims.

Ransomware is a big business that has outreached and infected many computers across the globe. So none is safe until they take measures to “save” themselves. None. Not even you!

The best way to safeguard yourself from malware is to have complete knowledge about it because half knowledge is dangerous.

Ransomware attacks- Inside out

Ransomware ironically is one of the most complex types of malicious software with the most relaxed definition. Malware denies access to the victim’s computer system. They usually kidnap data by encrypting the files or even threatening to delete the crucial data until the victim pays the “ransom” or fees to the attacker.

Ransomware has been and is a nightmare for many organizations. It creates havoc by locking and encrypting your valuable files and demanding to shell out hefty amounts of money from your pocket to an anonymous cyber-criminal. Only then will you be able to regain access to your information. On the other hand, even worse will be that you may not have access also after you pay.

These cyber-attacks are widespread in today’s digital world. Criminal acts like phishing, data hacking, viruses, and many more make the cyber world an unsafe place.

Now, these ransomware attacks have become a tale of many companies. From small to big, every company is at equal risk of being infected with this malicious software. Almost all countries have been a victim of this. Cyber theft can target any business or organization from any industry.

The existence of ransomware can be dated as old as the AIDS virus in the late 1980s. It is a suitable metaphor, though; both infect the system to weaken it.

Earlier ransomware was called “crypto- viral extortion” because it was a sharp tool of Crypto-virology with immense damaging power, heightened over the years.

This attack aims to extort money in the form of bitcoin, online payments, or gadgets! The locked files are decrypted with a key by the attacker only after he receives the fee.

In many cases, the ransom demand has a deadline. If the victim fails to pay in that specified duration, the data is gone forever.

Now paying the ransom can be an impromptu act. Still, many able defending organizations, including FBI, recommend that if you pay the payment once, you invite more chances of re-attacks. Paying the ransom encourages the cyber- attackers because of which you can suffer repeated ransomware infections.

Some famous ransomware attacks are:

• WannaCry: a ransomware worm dared to attack over 250,000 computers of the mighty Microsoft.
• CryptoLocker: this kind of ransomware attacks that demanded cryptocurrency or bitcoins as the ransom. It was a unique kind. It infected the systems through malicious mail attachments. But the encrypting tool was released in 2014.
• NotPetya and BadRabbit: both were similar, like its cousin in the code and spreading exploits. However, unlike Bad Rabbit, Notpetya did not allow decryption key or regain access even after the ransom was paid. The Bad Rabbit was visible ransomware that affected many media companies of Russia and Ukraine.

Conclusion

The bottom line of recommendation is to safeguard the business so that you do not let a malicious software attack or victimize you!

So make sure you gear up against these sophisticated ransomware attacks, because prevention is much easier than removing it.

It is advisable to know how ransomware works and what measures should be taken to avoid such events from extorting money or damaging your data files. Since you came so far with us, we give you a bonus tip that installing a security software helps to defend these attacks.

Now you would have gained all the insights about what ransomware is straight through your screen. We did not want to panic you but highlighting this was essential to dilute the impact of these cyber-attacks.

So beware and stay vigilant!

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