Education services around the world have witnessed an increase in rescue attacks in 2020. According to Verizon’s 2020 data breach investigation report, ransomware attacks account for approximately 80% of all cyber attacks suffered.
The data suggests that 92 percent of these incidents were financially motivated, while only 3 percent were aimed at spying on companies operating in the education field.
A new ransomware group employs a method of attack never before seen
Sharp increase in ransomware attacks since 2019
Ransomware attacks are growing at an alarming rate. Now accounting for the overwhelming majority of all cyber attacks, ransomware was only 48% of the total during 2019. Phishing is partly to blame: Ransomware attacks are more commonly Bitcoin Revolution, Immediate Edge, Bitcoin Profit, Bitcoin Code, Bitcoin Era, Bitcoin Billionaire, Bitcoin Evolution, Bitcoin Trader, The News Spy, Bitcoin Circuit conducted through fake websites than through email.
The Verizon report also says that attackers don’t even need to be able to do the work themselves; they can rent malware as a service. In addition, Verizon says many companies still have a significant lack of protection against rescue software, which also explains the increase.
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Casey Ellis is founder and CTO of the security company, Bugcrowd. Speaking to Cointelegraph, he noted that many companies are vulnerable to the rise of ransomware attacks in the COVID-19 era:
„As more organizations turn to telecommuting, we can expect to see more ransomware attacks targeting telecommuting employees. Attackers will capitalize on vulnerabilities at the outer perimeter, allowing for more effective and destructive phishing attacks, such as taking over sub-domains, due to the large number of hurried domain and configuration changes.
While ransomware software can be run mostly on publicly known vulnerabilities, Ellis expects to see an increase in sophisticated attacks across all industries.