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Ransomcloud is the Latest in Malware Threats

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Ransomware is getting more dangerous, but you can defend against it.

Ransomcloud, the latest evolution in ransomware, was first seen by managed service providers in 2018 when white-hat hacker (an expert who works on the cutting edge of hacking to ensure the security of organizations) Kevin Mitnick presented an Office 365 infection.

Since that time, attacks specifically designed to infect cloud services have been seen in the wild.

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What is ransomware?

Ransomware and its evil cousin ransomcloud is a kind of malware with serious implications if you’re infected. The effects include:

  • Scrambling or encrypting your data until a ransom is paid
  • Encrypting files shared on a network
  • Disruption to your regular operations
  • Financial losses to restore your systems and files
  • Harm to your organization’s reputation.

This kind of cyberattack has been on the rise across the globe, and they’re dangerous enough that they’re arguably the biggest threat facing organizations in the modern world.

Ransomware itself is nothing new, but the development of ransomcloud is scary because it brings the debilitating effects to cloud services like Office 365.

These attacks can happen to anyone. They often come in the form of malicious emails, sneaky enough that everything looks legitimate. This email will ask the user to click on a link that will deploy the ransomware.

Another way they are sometimes deployed is as easy as visiting a malicious website.

This is serious enough that a single accidental click can lock down the files of an entire networked business. Without backups in place, you could stand to lose everything you need to make your business run.

Hackers aren’t picky about who they target with ransomware or ransomcloud attacks. Organizations of all sizes have fallen victim, and these attacks are so widespread that most companies will be exposed to a ransomware attack at some point.

Ransomware and its evil cousin ransomcloud is a kind of malware with serious implications if you’re infected. The effects include:

  • Scrambling or encrypting your data until a ransom is paid
  • Encrypting files shared on a network
  • Disruption to your regular operations
  • Financial losses to restore your systems and files
  • Harm to your organization’s reputation.

This kind of cyberattack has been on the rise across the globe, and they’re dangerous enough that they’re arguably the biggest threat facing organizations in the modern world.

Ransomware itself is nothing new, but the development of ransomcloud is scary because it brings the debilitating effects to cloud services like Office 365.

These attacks can happen to anyone. They often come in the form of malicious emails, sneaky enough that everything looks legitimate. This email will ask the user to click on a link that will deploy the ransomware.

Another way they are sometimes deployed is as easy as visiting a malicious website.

This is serious enough that a single accidental click can lock down the files of an entire networked business. Without backups in place, you could stand to lose everything you need to make your business run.

Hackers aren’t picky about who they target with ransomware or ransomcloud attacks. Organizations of all sizes have fallen victim, and these attacks are so widespread that most companies will be exposed to a ransomware attack at some point.

 

What can you do about a ransomcloud attack?

First of all, employees should be trained on how to spot potential threats. This will help keep your organization safe from malware in the first place.

However, given how well-built and stealthy ransomware and ransomcloud is, it can be really difficult for people to determine the threat presented by would-be attacks.

If you fall victim to this kind of cyberattack it’s recommended by most security experts, and Microsoft itself that you don’t pay the ransom. After all, once you pay the ransom there’s no guarantee you’ll get your files back and you’d essentially be banking on the honour system from the person who committed a crime against you in the first place. On top of that, paying the ransom only encourages the criminal.

In the event that you fall victim to a ransomware attack, it’s also important that you file a police report. This step will be necessary for you if you want to file an insurance claim or lawsuit, and it helps law authorities keep track of cybercrime rates.

The best thing you and your organization can do to protect yourself from a ransomcloud attack is simple, use a managed service provider.

Using the services of a managed service provider like TWT is the absolute best defense against cyberattacks. These service providers are trained to help you recover from attacks without re-infecting your environment. They also have the tools to sometimes stop malware in its tracks, even if its been activated. Most importantly, they can back up your information in case of emergencies like this.

 

Topics: Cloud, Security, Cyber Attack, Phishing, data protection, Cloud Computing, data security, cyber security, managed IT services, IT company