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 3. Computing


A SHOCKING NUMBER OF BUSINESSES AREN'T GETTING THEIR DATA BACK AFTER A
RANSOMWARE ATTACK

By Sead Fadilpašić
published 6 days ago

Do decryptors even work?

 * (opens in new tab)
 * (opens in new tab)
 * 
 * (opens in new tab)
 * (opens in new tab)
 * 


(Image credit: Pixabay)


A vast majority of businesses that pay the demand following a ransomware (opens
in new tab) attack don’t end up retrieving their encrypted and stolen data, a
new report has claimed.



In its “State of data security by Rubrik Zero Labs: The hard truths of data
security” report, based on a poll of more than 1,600 IT and security leaders
(including CISOs and CIOs), the company found just 16% of global organizations
that paid a ransom and received a decryptor actually managed to recover all of
their data. 



To make matters worse, almost three-quarters (72%) of organizations reported
paying their ransomware demand. 





RISKING A LOT

Together with phishing and business email compromise (BEC) attacks, ransomware
is considered one of the most popular and destructive forms of cyberattack
today. 

RECOMMENDED VIDEOS FOR YOU...Tech Radar Pro



In ransomware attacks, a threat actor first steals, then encrypts, all of the
sensitive data found across company endpoints. Then, it demands a payment be
made in cryptocurrency (usually Monero, a type of cryptocurrency that’s very
hard to trace), in exchange for the decryptor. The threat actor usually also
threatens to release the stolen data on the dark web, unless its demands are
met. That way, it looks to force the victim into making the payment even if the
company has an up-to-date backup. 


Read more

> Many CISOs are drowning in ‘security debt’ (opens in new tab)

> The explosion of digital identities and growth of cybersecurity debt (opens in
new tab)

> These are the best firewalls today (opens in new tab)

Backups seem to be a popular countermeasure to ransomware. Almost all (99%) of
eternal organizations reported having backup and recovery technology. However,
93% reported encountering “significant issues” with their solutions.
Furthermore, nine out of ten reported malicious actors attempting to impact data
backups during a cyberattack, and 73% were at least partially successful in
doing so.

Cybersecurity experts and law enforcement agencies have warned against paying
the ransom demand, for multiple reasons. Meeting the demand doesn’t guarantee
the return of the file, nor does it guarantee the same attackers won’t strike
the company again in a month. It also doesn’t guarantee security from other
threat actors. At the same time, it motivates the cybercriminals to continue
targeting businesses with ransomware, and even funds future cybercriminal
campaigns. 

 * Check out our list of the best endpoint security software (opens in new tab)
   around


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By submitting your information you agree to the Terms & Conditions (opens in new
tab) and Privacy Policy (opens in new tab) and are aged 16 or over.
Sead Fadilpašić
Social Links Navigation

Sead is a seasoned freelance journalist based in Sarajevo, Bosnia and
Herzegovina. He writes about IT (cloud, IoT, 5G, VPN) and cybersecurity
(ransomware, data breaches, laws and regulations). In his career, spanning more
than a decade, he’s written for numerous media outlets, including Al Jazeera
Balkans. He’s also held several modules on content writing for Represent
Communications.

See more Computing news

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