HUB TechMinutes

Ransomware has been a real problem for the past several years. This is a result of a shift in the ways hackers approach their craft. Once known for breaching networks directly, the establishment of uncrackable encryption left hackers looking to change their strategies. Today, they use scams to get people to give them access to network resources. If they are successful, they can deliver more than headaches for a business. Let’s look at what makes ransomware so dangerous and how your company can combat the constant attacks that come your way. 

Ransom: a sum of money is demanded in order for the release of goods.
Software: the programs and other operating information used by a computer.

What do you get when you combine the two? Ransomware. 

On March 22, 2018, a remote-triggered ransomware called “SamSam” demanded a one-time payment of $51,000 be made to restore the city of Atlanta, Georgia’s, data. Despite an operating budget somewhere in the neighborhood of $625 million, Atlanta’s municipal leaders refused to pay the fine. The “hostage situation” has cost the city over $2 million already with an expected $9.5 million more likely to be spent restoring and re-enforcing the municipality’s network and infrastructure. This doesn’t take into account downtime and the significant amount of data lost in the hack. Whether or not you think it’s a good idea to not pay the ransom, if a whole city - especially one as large as Atlanta - can effectively be crippled by a single hack, you better believe that your business has to get serious about its cybersecurity efforts.