Ransomware attacks witnessed 55% surge in 2023

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The conclusion of the year 2023 witnessed an alarming 55% surge in ransomware attacks, as reported by Cyberint, a company specializing in threat intelligence services. In comparison to the preceding year’s 2034 victims, ransomware gangs targeted approximately 4356 victims in 2023.

Prominent among these cyber threats were LockBit 3.0, ALPHV (BlackCat), and CLOP, claiming an estimated 1047, 440, and 360 victims, respectively. The Play, Akira, and BianLian gangs also contributed to the escalating numbers.

Cyberint’s security researchers highlighted the impactful MoveIT cyber attack campaign by CLOP, which affected over 700 victims, with 34 organizations anticipated to pay a staggering sum of $400 million.

Examining global trends, the United States emerged as the most targeted country, experiencing over 2275 attacks. This vulnerability is attributed to the widespread use of the U.S. dollar in significant international transactions.

Delving into new ransomware variants, 3AM, Rhysida, and Akira stood out for their obscurity, simplicity, and sophisticated propagation techniques.

Anticipating the challenges in 2024, law enforcement faces the daunting task of combating both traditional and emerging ransomware threats. The newcomers, equipped with advanced capabilities like data wiping within a week of infection, pose a significant challenge.

Addressing this menace presents a complex scenario. Imposing a ban on cryptocurrencies, a potential enabler for ransom payments, is challenging due to the inherent difficulty in tracing virtual currency transactions. Furthermore, apprehending cybercriminals from nations like Russia, China, Iran, North Korea, and others, especially when backed by state-funded intelligence, proves nearly impossible.

Nevertheless, proactive measures such as deploying threat monitoring solutions, regular data backups, and raising awareness among employees about the evolving threat landscape can significantly mitigate the impact of ransomware attacks.

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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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