Ransomware Works And Is Here To Stay

   November 11, 2024  Posted in Cyber Security Ventures


11 Nov Ransomware Works And Is Here To Stay

This week in cybersecurity from the editors at Cybercrime Magazine

–Read the Full Story in Mitnick Security

Sausalito, Calif. – Nov. 11, 2024

Kevin Mitnick, the world’s most famous hacker, passed away on Jul. 16, 2023, but his namesake Blog is alive and kicking.

A recent Mitnick Security post on ransomware awareness training states that some huge companies, such as Garmin, have had to pay millions of dollars in order to regain access to their networks.

Pointing to a ransomware report from Cybercrime Magazine, it can be seen that in 2024 alone ransomware has taken out utility companies, schools, government entities, medical facilities, freight companies, and law enforcement, to name a few.

According to the 2024 Verizon Data Breach Investigations Report (DBIR), roughly one third of all breaches last year involved ransomware and it was considered a top threat across 92 percent of industries.

It is clear ransomware attacks work, has proved lucrative for threat actors, and is here to stay. We can expect them to become more sophisticated as time goes on.

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