Ransomware Attacks Reaching New Heights


Ransomware attacks continue to rise, and it make us wonder, is there ever going to be a ceiling on these attacks? Last month, data from 502 compromises was posted to leak sites, up 150% compared to July last year. This data was published this month by NCC Group, a security consultancy. Posting breaches to publicized sites is now a common tactic for double-extortion ransomware groups. This rising trend is up 79% in 2023, compared to same time in 2022.

So where is this growth coming from? The answer is simply, everywhere. There is a boatload of factors that have led to the increase, most recently the explosion of the easy-to-exploit vulnerabilities in managed-file transfer services, such as MOVEit. Organizations use MOVEit, which is like Dropbox, for secure file transfers.

Just a couple of months ago, cybercriminals at Clop uncovered a previously unknown vulnerability in MOVEit, which they began exploiting. Up to 130 organizations suffered from catastrophic impacts when the vulnerability in MOVEit enabled hackers to gain access to their IT environment and steal sensitive data. This attack was different because systems were being locked down and made inaccessible by threat actors installing .clop ransomware file. The hacker then threatens to publish the stolen data online if companies do not pay the ransom. They could also sell the data on the dark web, where other cybercriminals can use it to conduct frauds.

With ransomware attacks reaching all-time new heights, it is past time for businesses to take their cybersecurity seriously. The best way to protect your business is by applying a multi-pronged approach to your security. This means multi-layers of security protection. Your security solutions stack needs to be updated and multi-faceted.

Not sure if you are taking the correct approach to your cybersecurity? Let the expert team at 2W Tech help. We have IT Consultants on staff that specialize in security solutions and would love to work with your business to ensure you are best protected from ransomware attacks and other security threats.

Read More:

Microsoft Edge for Business is Now Available

What is a Disaster Recovery Plan?

Back to IT News