GandCrab Ransomware Operators Might have Racked 300 Million from Victims this Year

Like the preceding years, 2018 also saw the development of dangerous new ransomware strains. And it won’t be wrong to say that GandCrab ransomware might have won the race in inflicting the maximum amount of losses. A digital security company has analyzed the activity of GandCrab ransomware all through the year to come up with this assertion.

GandCrab operators have primarily focused on targeting large companies in the anticipation of big ransomware payouts. For instance, in one attack, the operators demanded extortion amount of whopping 0.7 million dollars to provide the ransomware removal key. The security firm has also reported that half of the reported victims resorted to ransom payment. According to the number of users affected by GandCrab ransomware, even the payment of least demanded ransom amount ($600) has made $300 million for its operators this year.

A solution for GandCrab Encryption is now Available

After months of malicious activity of GandCrab ransomware, Europol along with cybersecurity companies have come up with its ransomware removal decrypter. The solution is available for free. According to the numbers established by the Europol, GandCrab affected users have avoided paying nearly one million ransom amount because of its free decrypter.

Unreported Attacks are Not Taken into Account

There are always a large number of cyber attacks that go unreported. Many commercial entities don’t report such incidents because it can irreversibly damage their business reputation. The same can be said about the activity of GandCrab. The figure of $300 million only entails reported attacks. We still don’t know how all the unreported victims of GandCrab dealt with its encryption.

All things considered, the collective tangible losses caused by GandCrab can be way over half a billion dollar. Such immense monetary losses definitely make GandCrab one of the deadliest ransomware strains of the year 2018.

Related Posts