RANSOMWARE:  Every 14 seconds, a new organization gets hit by ransomware

Ransomware is a type of malicious software that threatens you with harm, usually by denying you access to your data. Once the ransomware has infected your computer, it will ask you to pay a ransom — usually in cryptocurrency — in exchange for decrypting your data or unlocking your computer.

Bitcoin was the primary method of payment for ransomware. Around 98 percent of payments were made in Bitcoin

The Cost Of Ransomware Attacks

2020 – $20 billion.   2019 – $11.5 billion.   2018 – $8 billion.

  • In 2020, 73 percent of all ransomware attacks were successful  (Sophos)
  • There have already been over 65,000 ransomware attacks in 2021 this year(John Chambers – Former Cisco Systems CEO)
  • By the end of 2021 the expected frequency of ransomware attacks is projected to hit 1 attack every second(BlackBerry)
  • Ransomware attacks don’t just cause monetary damage. In the United States alone, 764 healthcare providers temporarily stopped operations because of ransomware in 2019, as well as 113 government institutions and 1,233 universities and school districts (EMSISoft)
  • Ransomware downtime costs organizations more than $64,000 on average. (Coveware)
  • The average ransomware payment in 2021 is $4.4 million. (BlackBerry)

According to recent ransomware statistics from cybersecurity firm Coveware, these are the most widely reported causes of data breaches in 2020.  

  1. REvil (Sodinokibi) — Ransomware program that’s difficult to detect 
  2. Maze — Data-stealing ransomware that threatens to sell your data
  3. Phobos — Ransomware that locks productivity documents

 

Learn more about Ransomware and how it impacts your business!

Don’t be the next victim of Ransomware. CIT can protect and secure your data, along with 24×7 server monitoring.

Don’t Gamble With Your Security . . . contact us today

Report all ransomware incidents with CISA (Cybersecurity & Infrastructure Security Agency) to help other secure their security.

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