Increase in Ransomware Sales

October 16th, 2017 by admin Leave a reply »

There was increase in sales of ransomware on the dark web by 2,502 percent. It raised to 6.2 million dollar from $250,000.

“This increase is largely due to a simple economic principle — supply and demand,” the report states. “Cyber criminals are increasingly seeing opportunities to enter the market and looking to make a quick buck via one of the many ransomware offerings available via illicit economies.”

There are around 6300 dark web marketplaces which sells ransomware. The listing includes 45,000 product which are priced in the range of $0.50 to $3,000.

“Based on our research, ransomware can no longer be perceived as petty criminals performing stick-ups and kidnappings,” Carbon Black security strategist Rick McElroy said in a statement. “Instead, ransomware has become a rapidly growing, cloud-based black market economy focused on destruction and profit.”

“Today, legitimate enterprises avoid heavy investments in infrastruture — and hackers are no different,” McElroy added. “In fact, with ransomware, hackers have set a model for a cloud-based, high-profit and effective turnkey service economy.”

Survey conducted by Crowd Research Partners of 516 cyber security professionals shows that –

Eighty percent view ransomware a moderate or extreme threat

Small fraction of respondents say they will pay ransom

It also found out that most successful insertion of malware is through email attachments.

“In many respects, ransomware is a game changer,” Cybersecurity Insiders founder and CEO Holger Schulze said in a statement. “It is incredibly easy and inexpensive for cyber criminals to execute highly profitable attacks on a global scale.”

Survey conducted by Magnet Networks of 205 shows that 48 percent do not have cyber security policy.

“We found that only 13 percent of respondents think that their business is very secure — and in the absolute world of cyber attacks you are either totally secure or you are vulnerable in some way,” Magnet Networks cyber security expert James Canty said in a statement.

In seventy percent of the companies under 10 employees, the security aspect is handled by business owner or office manager.

That means that as many as 171,000 Irish businesses, Canty said, “have no one qualified looking after their network security and may not be protected against a ransomware and cybercrime industry which is growing at a rapid rate.”

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AlertSec ACCESS is a patent pending technology designed to check that devices are encrypted before access to a network is granted. Encrypted devices secure your data even if they are lost or stolen.

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