Malwarebytes states that Ransomware and Cryptomining spiked in 2017!


According to a report released by Malwarebytes, Ransomware and Cryptomining attacks are said to have spiked in 2017. The security firm discovered that threat has increased to an alarming scale specifically in the Asia Pacific region with a report revealing a 1000 percent increase in detections in 2017 and with no signs of mellowing down in the current year.

The Malwarebytes Global State of Malware Report has included all the attack variants observed by their researchers in 2017. The report also inputs some valuable data on the evolution of the cyber attacks in past two years and the distribution techniques used by cybercriminals in the same tenure.

“It is clear that cybercriminals are becoming more strategic and sophisticated as they are picking the most effective form of attack to gain profits”, said Jeff Hurmuses, Vice President and Managing Director, Malwarebytes- Asia Pacific.

He added that companies, particularly in healthcare and education sectors, should start familiarizing themselves with the methodologies and tactics deployed by cybercriminals and come up with foolproof plans which can help in strengthening their cyber defenses.

In a separate study made by British Security Firm Sophos, it was discovered that the average cost per ransomware attack to businesses rose from $100,000 to $133,000 in 2017. The results came from a survey of more than 2,700 IT decision makers from mid-sized firms operating across 10 countries on a global note.  With as many as 5% of them reporting the loss to cost between $1.3 million to $6.6 million to their businesses.

Sophos claims that its report has included costs incurred from ransom demands, downtime, hired manpower, device and network costs and lost business opportunities and productivity.

The firm added in its press release that most of the cyber threats prevailing in the current digital landscape can be tackled with the help of its Intercept X software that detects advanced malware attacks with the help of deep learning technologies.

It’s a smart way to include the promotion of Sophos Intercept X Software into the cyber threat report……isn’t it?

Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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