The Ransomware industry is a nice little earner.
A study of cyber threats by a leading Security Firm found that the ransomware industry was worth €950 million in 2016.
So Ransomware attacks are profitable and productive, “this business is booming”. Now let me just clarified this is the amount of money spent by criminals buying ransomware software.
We don’t really know who many fools get caught, but it’s estimated that ransomware attacks have cost businesses an estimated $1 billion worldwide in 2016.
That’s a nice return on the criminals’ investment.
A top-notch group of Researchers monitored 21 of the largest dark web marketplaces trading ransomware in August and September 2017 (there is an estimated 6,300+ marketplace) and produced the following
- There are currently 6,300 estimated dark web marketplaces selling ransomware, with 45,000 product listings.
- The prices for do-it-yourself (DIY) kits range from $0.50 to $3K.
- 2016 the ransomware marketplace was worth $249,287.05
- 2017 so far the ransomware marketplace was worth $6,237,248.90 (a growth rate of 2,502%)
- While ransomware has existed for some time, the use of Bitcoin has lowered the risk of getting caught
So while Businesses ignore the articles warning them of security breaches that market will grow.
Predictions for Ransomware’s
The number of Ransomware attacks will increase
However, Ransomware will develop into a more targeted form of attack. Looking for certain file types and targeting specific companies such as Law Firms, Doctors, healthcare, also files like AutoCAD can you visualise having to re-draw them.
This not only would create such stress on companies to restore their data but also incorporate the loss of data which would be in breach of GDPR. The files could also be sold on the black market.
December 20, 2017
December 4, 2017