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Ransomware Can Take Down Anyone

Cyberattacks on multinational retailers often make the biggest headlines and draw the most attention. But that doesn’t mean hackers only target the big fish. Ransomware does not discriminate, no one is safe.

Here are some instances of ransomware getting the best of some organizations you might not think would be susceptible to cybercrime on a large scale:

  • Monroe College: This for-profit institution in New York City confirmed a recent ransomware attack that disabled many of the college’s technology systems and platforms. Students and faculty and staff members were locked out of the Monroe’s website, learning management system and email. The hackers demanded a payment of around $2 million in Bitcoin to restore access.
  • Cities under siege: This summer, entire metropolises have been under attack from ransomware, forcing municipal governments to fork over tons of cash to restart basic government functions. Atlanta and Baltimore are each spending millions of dollars to clean up the fallout from their attacks. In Florida, Riviera Beach paid $600,000, and Lake City coughed up almost $500,000 to get their data unlocked.
  • Norsk Hydro holding out: The costliest attack this year hasn’t resulted in a ransom being paid to cybercriminals. Instead, Norsk Hydro — a global aluminum producer whose 22,000 computers across 170 different sites in 40 different companies were hit by a ransomware attack — is holding its ground. The company with 35,000 employees is refusing to give in to the cybercriminals’ ransom demands, but it comes at a price. The company has racked up 45 million euros in recovery costs thus far.

Can your organization afford any of these astronomical costs to undo the harm caused by a ransomware attack? It seems doubtful. It’s better to protect yourself ahead of time by partnering with a cybersecurity specialist like 2W Tech. 2W Tech is a full-service IT consulting firm that has IT consultants on staff that specialize in security solutions. Give us a call today to ensure you don’t become the next victim of ransomware.

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