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Crypto ransomware won't go anywhere - It's all about defense

Crypto ransomware won't go anywhere - It's all about defense

Crypto Ransomware is one of the most common malware types that target a device by limiting the user's access to files saved on the device. Malware presents an on-screen warning that allows the consumer to pay a certain amount of money using anonymous ways to get back access to their files.

There are many types of crypto-ransomware, commonly known as CryptoDefense, CryptoWall, and CryptoLocker, which are spread via emails, instant messaging, and drive-by downloads.

The crypto-ransomware takes control of all your files as soon as your computer is infected, locks everything up with unbreakable encryption and asks for a cryptocurrency ransom of up to $500 or have all your files destroyed. 

In some of the cases, the attackers claim that they are representatives of law enforcement, who are shutting down the device for a variety of reasons. Most of the time this happens to make victims less likely to report the attack to authorities. 

There are several reasons why attackers choose specific organizations or authorities to attack. For instance, they actively attack educational institutions since they tend to have a less stronger defense system than others. 

According to TopForexBrokers, a leading financial media outlet, forex companies that are notorious for their cybersecurity measures also tend to be attacked frequently. This mostly happens because of the fact that they have large amounts of money kept on their accounts. Some of them even keep crypto, which makes them a good candidate for attackers. Forex Brokers let their clients access a platform that allows them to buy and sell foreign currencies. They are very popular in today’s world and there are hundreds of different brokers offering traders of any level different types of opportunities. 

Cryptomining malware 

Ransomware is on the decline, but it does not mean that they are going anywhere. As it was pointed out by many organizations, the decline in ransomware was matched by an increase in so-called crypto-mining malware. This malware infects the victim's computer and uses its computing power to mine bitcoin without the owner even noticing anything. 

This is one of the ways to use the money of someone else to obtain bitcoin that bypasses most of the challenges of collecting a ransom, and it's only become more tempting as a cyberattack as bitcoin's price soared in late 2017.

However, the threat is nowhere to be over. Generally, there are two types of attackers. Those who attack while trying to infect computers by volume and include 'ransomware as a service', that is available for criminals to rent, and the targeted groups that work on vulnerable markets. Keep in mind that even if it seems like the big ransomware boom has passed, it is nowhere close to disappearing, so you need to be focused and try to keep safe. If Bitcoin's price drops down, the attackers will shift back. After all, it is a basic business decision for them.

How to stay safe from crypto-ransomware 

First of all remember that crypto-ransomware is spread through emails and other engineering techniques, for example, messaging. First of all, make sure that you have a reliable, up-to-date anti-virus, or some kind of security solution on all of your devices. Also, keep all of your software updated, some of them might include advanced security features which can come handy while attacks. Also, you should try and avoid downloading files that come from unknown sources. Another great way to stay safe is to keep your files backed-up, so in case of an emergency, you can have a 'plan b'.

CryptoLocker

CryptoLocker is a trojan. It has encrypted data in infected Windows PCs between September 2013 and May 2014 during its spread. While the U.S. government eventually ended the attack, CryptoLocker opened the way for a new wave of complicated and harmful challenges to cybersecurity.

There are no signs for crypto-ransomware to go anywhere. After all, for attackers, its a business opportunity that they won’t give up. The defense is the thing that everyone should be worried about the most. Crypto development is very important for the global economy, and making it a safe place is a huge challenge. 

There are several organizations offering safety measures for miners and using them might help you to further develop the safety opportunities that you have. As Bitcoin rises, the attacks will also be more active, since it will become more ‘rewarding’ for the criminals.

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