COVID-19 Alert – Ransomware Attacks up by 800% - Our CEO speaks with CBS
monster-cloud-logo-transparent
  • Cyber Security Services
    • Prevention Services
      • Penetration Testing
    • Mitigation Services
    • Recovery Services
      • Ransomware File Recovery
      • Ransomware Removal
  • Ransomware Removal
    • LAW ENFORCEMENT RECOVERY
    • .LOCK2BITS
    • .CONTI
    • .LOCKBIT
    • CRYPT
    • LOCKED
    • .BBZZ
    • .BBYY
    • .BNRS
    • OTHER TYPE OF RANSOMWARE?
  • Testimonials
  • Company
    • Career Opportunities
    • Q&A
    • News and Blog
    • University
    • Customer Support
    • Contact Us
  • REMOTE ASSIST
  • (844) 222-1221
REMOTE ASSISTLOGINSUPPORT
SUPPORT

26 Percent of Enterprises Got their Data After Paying Ransomware Operators

March 31, 2018wpengine

Ransomware attacks are getting bigger and severe in their scope by time. We can see the evil prowess of ransomware attacks at display in Atlanta where the city’s municipal system has become a hostage to the attackers virtually.

Demanding a sum of money for ransomware decrypt is the main catch for the instigators of such attacks. Therefore, there is a perception that by paying a ransom you can restore the ransomware files. However, reality is quite contrary to that, as claimed by a report from Software Company SentinelOne surveying hundreds of US businesses.

According to the report, companies that pay the hackers in the wake of ransomware attack often experience a double whammy i.e. they don’t get their encrypted files back and become victim of ransomware attacks again.

The report says that only 26 percent of the companies paid at least one ransom had their files unlocked. Moreover, they are two-third chances that the companies paying the ransom again become the target of ransomware.

Therefore, The US department of Homeland Security advises against paying a ransom since this trend can lead into forming a business model for organized crimes. But still tech industry seems divided on the issue. For many, paying ransom is the shortest and easiest way to restore ransomware files.

The report also highlights another trend in paying the ransom money to the attackers. Security professionals from more than 500 companies reported that half of the times employees paid the ransom without consulting IT security teams and experts. For that matter, the average ransoms paid by US companies are higher than the global average.

Another worrying fact established by the report is the average amount of business loss, which is closing on to one million dollars. Ransom, loss of work and time consumed in tackling the situation are factored in to estimate this cost. On average, 44 work hours are spent in tackling a ransomware attack.

Regarding the vulnerability that led to the attack, more than half of the companies think incompetence of legacy antivirus protection was the reason. Reviewing the report, VP of SentinelOne thinks that ransomware attackers are only treating companies as their teller machines.

For assistance on file recovery, please contact MonsterCloud Cyber Security experts for a professional ransomware removal. 

Previous post Atlanta Ransomware Attack Still Unresolved Next post Ransomware-as-a-service Playing Crucial Role in the Prevalence of Ransomware Attacks

Related Articles

MonsterCloud Helps Solve an Issue that Can Bring a Company to it’s Knees

May 16, 2017wpengine
monstercloud helps

NY TIMES: Quotation of the Day: In Computer Attacks, Clues Point to Frequent Culprit: North Korea

May 16, 2017wpengine
computer attacks

CBS Credits MonsterCloud for Predicting the Global Cyber Attacks

May 16, 2017wpengine

Recent Posts

  • Penalties for Hackers if Caught
  • Should Systems That Have Been Attacked by Ransomware be Used Again?
  • Coronavirus Alert – Ransomware Attacks up by 800%
  • Ransomware and Bitcoin
  • Can you trust your employees? How to keep your data protected?

Archives

  • August 2020
  • March 2020
  • February 2020
  • January 2020
  • May 2019
  • January 2019
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • January 2018
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • November 2016
  • September 2016
  • August 2016
  • July 2016

Managed Cyber Security Services

MonsterCloud offers a comprehensive cyber security platform providing companies with both the technology and, more importantly, expertise needed to defend themselves from hackers, data breaches, ransomware and other external threats. It reduces reputational risk and affords companies peace-of-mind, knowing their businesses are constantly being monitored and protected by some of the world’s top cyber security experts.

Privacy Policy

Privacy Policy

Career Opportunties

Career Opporunties

Menu

  • Cyber Security Services
    • Prevention Services
    • Mitigation Services
    • Recovery Services
  • Ransomware Removal
  • News and Blog
  • MC University
  • Surveys and Data
  • Testimonials
  • Q&A
  • Give us a review!
  • Contact Us

Stay Connected & Protected

Facebook
Google+
LinkedIn
YouTube
Vimeo

Contact us

1119 S 21st Ave., Hollywood, FL 33020
844-222-1221
[email protected]

Partnerships

NoMoreRansom - MonsterCloud Partnership

Recent Posts

  • Penalties for Hackers if Caught
  • Should Systems That Have Been Attacked by Ransomware be Used Again?
  • Coronavirus Alert – Ransomware Attacks up by 800%
  • Ransomware and Bitcoin
  • Can you trust your employees? How to keep your data protected?
BizJudge.com
© 2019 MonsterCloud.com. All Rights Reserved.