Ransomware is a type of malware that encrypts files on a compromised computer and then demands that the victim pays a ransom to a designated cryptocurrency wallet address in exchange for a decryptor.
Excluding the scenario of paying a ransom, the cost of recovering data after a ransomware attack varies depending on the extent of the attack (how many systems were breached), the amount of data that was encrypted (how many GBs and how many individual files), and what available restoration options exist.
A critical factor determining the data restoration cost is the existence of data backups. If backups are available, the restoration of the files can be easier and simpler, and it will cost victims less money. Of course, the more recent the backups, the fewer the files that will have to be restored manually. However, this isn’t always the case, so it depends on how easy it is to decrypt using automated tools.
The next factor is the ransomware strain and whether or not free decryptors exist for it. Generally, older ransomware families have been decrypted by law enforcement and security analysts, or their authors leaked the master keys online when the operation was terminated.
If there’s no decryptor available for the ransomware, restoration specialists attempt to recover decryption keys that may be hardcoded on the malware or dropped in the memory of the compromised systems, as this is a characteristic of some families.
The fewer options restoration experts have, which depends on several factors, the more laborious the data restoration process becomes, and naturally, the costs increase.
Finally, the cost of the restoration depends on the speed requirements. If an organization with hundreds of encrypted workstations needs to get back to regular operation as soon as possible, it will have to engage a larger team of experts who can work simultaneously on multiple machines.
One thing to note regarding data recovery costs is the indirect costs induced by failed or slow recovery resulting from lack of experience, knowledge, and perspicacity on account of those performing the procedure.
Precaution beats response
Ransomware attacks can target any organization, from small businesses to national institutions, and can have serious consequences. The cost of recovering from a ransomware attack can be high, but there are steps you can take to protect your business from these threats. Proactive measures can reduce the risk of a ransomware attack and minimize the impact on your business.
Implementing security measures like firewalls and intrusion detection/prevention systems, keeping your software up to date, and working with a Managed Service Provider (MSP) specializing in cybersecurity are all essential steps businesses can take to mitigate the associated risks with malware attacks.
Get in touch with Monster Cloud, a Managed Service Provider (MSP) specializing in cybersecurity and ransomware data recovery. Our team of experts will help you recover from ransomware attacks and guide you through implementing targeted security measures to strengthen your cybersecurity stance and minimize the chances of falling victim to a ransomware attack in the future.