Recently, there had been news regarding the cyber-attack in a Japanese port, that blocked the smooth transfer of goods - a hack in a Las Vegas resort which led to malfunction in slot machines and guest check-ins and a whopping $100 million loss, and loss of more than 2.5 million medical records, that were stolen by hackers.
These instances have one thing in common: they were all caused by ransomware-as-a-service operations.
The emergence of RaaS signifies a significant advancement in the field of cybercrime, with global corporations and public infrastructure bearing the consequences.
Here, we will discuss what RaaS is, how it operates and why it poses such dangers.
The Origin Of RaaS RaaS initially came to light in 2009, following the invention of cryptocurrency.
In the first place, cryptocurrency made it simpler for hackers to demand ransoms in an anonymous manner, which contributed to the spread of ransomware.
Second, it allowed hackers to transact with one another for software and services without having to reveal who they were or run the danger of having their accounts frozen by banks.
Reveton became the first ransomware gang to adopt the RaaS model.
The group created malware that, after infecting a victim's computer, claimed the victim had committed an online federal felony.
If the victim didn't pay the ransom, it threatened to put them in jail.
Later, for a price, this software was made available to hackers with lower technical proficiency.
To put it briefly, the program is created and maintained by a committed group of programmers, who then charge a fee to allow others to use it.
Like any other SaaS business, the RaaS developers might even provide committed tech support and customer service.
This fee provided to the RaaS providers is a part of the ransom paid to the gang, indicating that the RaaS users are responsible for infiltrating the network the ransom money goes to the RaaS provider.
The ransomware can evade detection and the most recent antivirus software by using updates like patches from the RaaS provider.
This allows the malware to infiltrate a network, encrypt data, and take it.
Encrypting sensitive data: Attackers using ransomware depend more on extortion as backup processes improve.
To prevent hackers from utilizing sensitive information against you, it is advisable to encrypt sensitive data such as bank records, proprietary data, and customer personal information.
It is necessary to consider increased security as standard operating procedure.
This Cyber News was published on www.cysecurity.news. Publication date: Fri, 22 Dec 2023 15:13:04 +0000