Ransomware is a malicious software (malware) attack designed to prevent access to a device or encrypt its data until the attacker receives a ransom. Due to its low risk and high reward for attackers, ransomware has become one of the most lucrative forms of cyberattacks. Over the years, high-profile ransomware attacks have targeted large corporations, healthcare providers, and governments. These attacks can be devastating, resulting in lost profits,  service disruptions, and reputational damage.

How Ransomware Works:

Attackers usually infect a system through social engineering (phishing), malicious software downloads, or exploiting vulnerabilities in the victim’s device. Once the malware is in the system, it locks the user out or encrypts their files, rendering them inaccessible. A ransom is then demanded, usually in cryptocurrency (such as Bitcoin), in exchange for a decryption key or the promise to restore access

The Most Common Types of Ransomware Attacks are:

• Locker Ransomware: This form completely locks the victim out of their device, restricting access to the entire system.
• Crypto Ransomware: Attackers encrypt individual files, leaving the system operational but making critical data unusable.

How to defend against Ransomware:

Having a strong defense involves a combination of preventive measures, strong security protocols, and user awareness. Here are some key strategies:

• Backup: Regularly backup critical data to ensure that files can be easily restored without paying a ransom.
• Security Updates: Have a patching cadence in place to address known vulnerabilities.
• Social Engineering: This is a common delivery method for ransomware. Organizations should train employees against social engineering techniques such as phishing, vishing, pretexting, and baiting. Make sure they know how to identify suspicious emails. 
• Antivirus and Anti-malware Software: Installing comprehensive security solutions such as EDR and XDR helps detect and block ransomware before it can infiltrate a system.

Ransomware is a growing threat in the world of cybersecurity, affecting organizations and individuals. Organizations can strengthen their cyber defense by implementing proactive security measures and fostering awareness.