Now ransomware hackers targeting backups for ransom pay assurance

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A new study conducted by Veeam Software claims that hackers have shifted their focus towards backup storage appliances, as they provide assurance that the victim will definitely pay the demanded ransom amount.

According to Veeam’s 2023 Ransomware Trends report, one in 7 organizations has been infected with file-encrypting malware in the past year. Out of these organizations, at least 80% were forced to pay a ransom because their backup storage appliances were also encrypted by the malicious software, leaving them no choice but to comply with the hackers’ demands.

Interestingly, Veeam software also sheds light on the ransom payments made for cyber-attacks. It alleges that victims’ negligence in protecting their data from infiltrations creates a conducive environment for cybercriminals to wreak havoc in the online marketplace.

The Veeam survey also highlights the fact that paying a ransom does not guarantee recoverability, as threat actors never provide assurance that they will promptly return the decryption key upon receiving the ransom.

What if they demand more for the decryption key or fail to delete the stolen data in the case of double extortion attacks? What if they repeatedly target the same victim because they have found a way into the victimized network?

While Veeam, being a backup software provider, maintains a neutral opinion on those spreading ransomware, it is advisable not to pay a ransom to hackers. Instead, it is better to invest in technologies that offer on-site and off-site backup appliances, as well as cloud resources.

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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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