Malware

Ransomware for Everyone: A Look into Its History, Types, Methods, and Notorious Attacks

Ransomware has become a significant threat in the digital world. Malicious software encrypts the victim’s data, rendering it inaccessible until a ransom is paid. In this article, I will dive into the history of ransomware, explore its different types and methods, and discuss some major ransomware attacks that made headlines.

History of Ransomware

The concept of ransomware dates back to 1989 with the “AIDS Trojan,” also known as the “PC Cyborg.” It was distributed via floppy disks and targeted the medical community. The ransom demand was sent via postal mail, and the payment was requested as a cashier’s check. Although primitive by today’s standards, this marked the beginning of ransomware as a cyber threat.

The rise of the internet and cryptography advancements enabled ransomware’s rapid growth. By the 2000s, ransomware attacks became more sophisticated and widespread with the emergence of the Reveton, CryptoLocker, and CryptoWall families of ransomware.

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Types of Ransomware

  1. Crypto Ransomware: This ransomware encrypts the victim’s files, making them inaccessible without the decryption key. Examples include CryptoLocker and WannaCry.
  2. Locker Ransomware: Locker ransomware locks the victim’s computer or device, preventing access to the entire system. A well-known example is the Reveton ransomware.
  3. Scareware: Scareware is a ransomware that tricks users into believing their computer is infected with malware, urging them to pay for fake antivirus software or technical support.

 

Methods of Ransomware Infection

Ransomware primarily spreads through:

  1. Phishing emails: Cybercriminals send emails containing malicious links or attachments that, when clicked or opened, infect the victim’s computer with ransomware.
  2. Exploit kits: These tools automatically scan for security vulnerabilities in the victim’s system and deliver ransomware upon finding a weakness.
  3. Malvertising: Malicious online advertisements redirect users to infected websites, which can lead to ransomware infection.

 

Notable Ransomware Attacks

  1. WannaCry (2017): WannaCry affected over 200,000 computers in 150 countries, targeting organizations such as the UK’s National Health Service, FedEx, and Telefonica. It exploited a vulnerability in Microsoft’s Windows operating system and demanded a ransom in Bitcoin.
  2. NotPetya (2017): NotPetya, a variant of the Petya ransomware, caused widespread disruption, particularly in Ukraine. It targeted government institutions, banks, and infrastructure companies. NotPetya encrypted the master boot record, rendering the entire system inoperable.
  3. Bad Rabbit (2017): Bad Rabbit primarily targeted organizations in Russia and Ukraine, using a fake Adobe Flash Player update to infect computers. The ransomware encrypted files and demanded payment in Bitcoin.
  4. Ryuk (2018): Ryuk targeted large organizations, especially in the United States. It is known for its high ransom demands, sometimes reaching millions. The ransomware is believed to have originated from North Korea.

 

Famous Ransomware Attacks and Ransom Payments

  1. High-profile ransomware attacks have targeted well-known organizations, causing significant financial losses and reputational damage. Here are some notable cases, including the names of the affected companies and the ransom amounts paid:
  2. Colonial Pipeline (2021): The largest fuel pipeline in the United States fell victim to the DarkSide ransomware group, leading to a temporary shutdown of its operations. The attack resulted in widespread gasoline shortages and price spikes. Colonial Pipeline paid approximately $4.4 million in Bitcoin a ransom to regain access to its systems.
  3. Garmin (2020): The GPS technology and wearable device company experienced significant disruption in its services due to a WastedLocker ransomware attack. Garmin reportedly paid around $10 million ransom to restore its systems and services.
  4. Travelex (2020): Foreign exchange company Travelex was hit by the Sodinokibi ransomware, also known as REvil. The attack forced the company to take its systems offline, impacting customers and partner businesses. Travelex paid a ransom of $2.3 million in Bitcoin to regain control of its data.
  5. JBS (2021): JBS, one of the world’s largest meat processing companies, suffered a REvil ransomware attack that disrupted its operations in North America and Australia. The company paid a ransom of $11 million in Bitcoin to prevent further damage and ensure its data security.
  6. CWT (2020): Global travel management company CWT was targeted by the Ragnar Locker ransomware group. The attackers demanded $10 million but eventually negotiated the ransom to $4.5 million in Bitcoin, which CWT paid to restore its systems.

 

Conclusion

Ransomware is a constantly evolving threat that can have severe consequences for individuals and organizations. Understanding its history, types, and methods and being aware of high-profile attacks can help improve cybersecurity measures and reduce the risk of falling victim to ransomware.