Ransomware is the biggest threat to digital business
While ransomware has been around for decades, its prevalence has exploded in the last few years. These attacks used to be perpetrated by individuals; now, they’re launched by networked groups of affiliates who buy and sell each other’s specialized skills and toolkits. Attacks were once unfocused and one-dimensional; now, they use targeted, multilayered tactics that are much harder to defend against and command much higher ransoms. Ransomware is expected to cause $42 billion in damages by the end of 2024.
Arguably, the most impactful trend in modern ransomware is the advent of double-extortion attacks, in which attackers steal data and threaten to publish it in addition to encrypting it. Roughly 50% of ransomware attacks now include attempts to exfiltrate data.
