The drift from pen and paper to the online world has led to the growth and productivity for many businesses. Gone are those days when digitization was an option for business because now, every type and size of businesses, no matter the industry has moved to the online platform in order to harness the benefits. But because of this drift to the online platforms, criminals have now got new opportunities to target businesses through cyberattacks. As the business landscape is advancing with the developments so are the ways with which cyber thieves are planning to hack into the systems.

Even with the implementation of various security layers and strict guidelines implemented by the government and other organizations, the number of cyber attacks is increasing every year. Although there are different types of cyber attacks used by criminals, one of the most powerful ways of attacking online businesses with massive impact, used by criminals is ransomware.

Currently, ransomware was in the news because it affected a large chunk of online businesses, and its main target was the healthcare sector. The infamous wannacry ransomware affected almost 200,000 computer systems located across 150 countries.

What is ransomware?

In ransomware, the hacker usually encrypts the whole data of a business, and thus, the authorized users are locked out of the system. Then the hacker demands a ransom for decrypting the data. Ransomware is slowly becoming one of the most powerful tools for criminals, as businesses easily succumb to the traps laid down by criminals in the form of ransomware. This is why it is very necessary for you to incorporate recovery tools like infrascale that acts as your first line of defense. The cloud backup provided by Infrascale can act as your savior if a ransomware attack hits your system.

Important facts about ransomware

  • It is not confined to only giant businesses

There are many people who think that ransomware is limited to giant businesses only as big players have more valuable data, and they can pay the huge ransom, but this is not true. You should know that the majority of ransomware targets were small and medium-sized businesses only. Criminals know that small and medium-sized businesses don’t have an ultra-secure platform, and this is why it will be much easier for them to get their hands on your data. If you have money and useful data, then you will surely be on the target list of criminals using ransomware attacks.

  • Ransom is never paid in cash

Ransomware works just like normal kidnapping cases where the criminals kidnap a person and then ask for ransom from the family members. But instead of a human being, your precious and sensitive data is kidnapped in the case of a ransomware attack and the ransom is accepted by the criminals in the form of digital currency. Criminals know that in order to accept the ransom in cash, they will have to make an account for it, and then later, after the payment, the online police will easily trace them. This is why in the case of a ransomware attack, the criminals ask ransom in the form of bitcoins, which is a digital currency of the modern-day era.

  • Bitcoin is an expensive form of payment

Bitcoins were in the news for all the wrong reasons, and it stayed a hot topic of debate for a long period of time. The real issue started when criminals started asking for money in the form of bitcoins. You might be wondering, except being untraceable, what are the other benefits criminal harnesses through bitcoin payment? Well, bitcoins are more expensive than normal currency, and that means more money for the criminals. The exchange rate of bitcoins is very high, and that’s why some people buy them just like shares.

  • Ransomware will trick you into getting inside your computer

There is no denying the fact that by using anti-virus and anti-malware systems, you will be able to keep all those ransomware away from the computer that will try to sneak in. In most of the cases, many organizations have been able to keep severe ransomware attacks away from their system just by using normal security tools. But in some cases, the ransomware will look like a legit email, and will contain a mind-blowing offer. This is one of the most common ways of tricking businesses for a ransomware attack. So, don’t think that every ransomware attack will pop up as a red warning sign on your system.

  • Tracking bitcoin is almost near to impossible

One of the main reasons why bitcoin was in so much controversy is its untraceable feature.This is the main reason why criminals ask ransom in bitcoins instead of a direct bank to bank transfer. In the case of digital currency like bitcoin, the transaction becomes impossible to trace after it leaves one channel. When you convert the real currency into bitcoin and transfer it to the criminal, it leaves the main channel and reaches to another without leaving any trace. This is why bitcoins are considered as criminal’s best friend.

  • Ransomware is specific to certain countries

Ransomware are confined to a certain industry or size of the business, but when it comes to the region, then there are some chosen places that hackers target. It has been seen that both Russia and the U.S are the favorite countries for ransomware attackers. Last time, the ransomware attack in the U.S resulted in a loss of almost $30 million. And according to a study, 75% of the ransomware attacks originate from Russia, and a major portion of them are targeted towards businesses functioning in Russia only. Although with the advancement of time, reports of ransomware attacks in different countries have been witnessed, they were not as severe as the U.S and Russia.

It is necessary for businesses of all sizes and industries to use precautionary measures against powerful malware like ransomware. In some cases, people have been able to come out ransomware attack, but in most cases, they ended up paying the ransom demanded by the hacker. Using security measures like the infrascale can surely help you in getting your data back.