Ransomware remains a formidable challenge for organizations globally, growing more sophisticated and relentless over time. The trend underscores that no entity is safe, with attackers even targeting executives’ families to secure ransom payments. Despite significant law enforcement operations like “Operation Endgame” and “Operation Duck Hunt,” leading ransomware syndicates prove resilient, swiftly recovering and initiating fresh assaults.
Recently, the Zscaler ThreatLabz group published the ThreatLabz 2024 Ransomware Report which examines the severe issue of ransomware. In their scrutiny, ThreatLabz reviewed 4.4 million thwarted ransomware attacks via the Zscaler cloud, noting an increase of 17.8% compared with last year, and detailed reviews of ransomware samples and attack strategies. This report delivers crucial knowledge about key targets, top ransomware families, and the changing strategies and demands of the attackers. Alarming findings include a single ransom demand peaking at USD$75 million.
To gain a detailed perspective on the ransomware environment and enhance protections within your organization against this ever-present danger, you can download the Zscaler ThreatLabz 2024 Ransomware Report.
The ThreatLabz team diligently monitors ransomware activities, working to discern and interpret the evolution of these threats. Their research casts light on some of the most critical ongoing trends and targeted sectors.
1. The number of extorted companies has increased by 57.8% year-over-year, according to data from malicious data leak websites, despite the efforts of law enforcement which include criminal arrests, indictments, and confiscation of infrastructures. The analysis further describes the major law enforcement campaigns against ransomware syndicates and initial access brokers throughout the previous year.
2. There’s a growing trend in the use of voice-based social engineering for infiltrating networks. This method has been notably used by the Scattered Spider group and the Qakbot threat group.
3. The persistent exploitation of vulnerabilities remains a common method for ransomware attacks, highlighting the urgent need for such measures as immediate software patching and comprehensive vulnerability management, backed by a zero trust framework.
4. The manufacturing, healthcare, and technology industries were most frequently targeted by ransomware from April 2023 to April 2024. Additionally, the energy sector saw a significant increase in attacks, with a 527.27% rise compared to the previous year.
5. The United States, United Kingdom, Germany, Canada, and France were the top five countries targeted by ransomware in the same time period.
Delve into these findings and more data in the full report.
ThreatLabz has documented 19 new ransomware families this year, pushing the total number they’ve tracked in the last decade to 391. These details are logged in their GitHub repository.
As ransomware groups continue to surface, their tactics also evolve, aiming both to increase their disruption and to maximize financial returns. One particularly alarming finding by ThreatLabz was a record-breaking ransom demand of $75 million, the highest they’ve encountered. The responsible ransomware group, identified and flagged by ThreatLabz, ranks among the top five threats looming over businesses in the coming year. The report offers a deep dive into their strategic operations and sheds light on why similar strategies might be adopted by other cybercriminals.
The detailed analysis in the report extends to other ransomware groups too, focusing on their methods, potential impact, and recent maneuvers. Highlighted as significant threats for 2024-2025, these insights are critical for understanding the ransomware landscape.
This year’s findings underline the increasing scale and expense of ransomware attacks, emphasizing the need for organizations to implement strong defensive strategies. The Zero Trust Exchange platform by Zscaler is specifically designed to combat such threats through a comprehensive cybersecurity approach.
The Zscaler ThreatLabz 2024 Ransomware Report provides essential guidance to this end, including:
The growing volume and cost of ransomware attacks found in this year’s report is a stark reminder that organizations must prioritize robust ransomware defenses. The Zscaler Zero Trust Exchange™ platform addresses this challenge by offering a holistic approach to stopping ransomware.
The Zscaler ThreatLabz 2024 Ransomware Report provides essential guidance to this end, including:
Get your copy of the Zscaler ThreatLabz 2024 Ransomware Report today. As ransomware threats persist, understanding the latest trends and potential implications of these attacks and assessing your risk will help your organization protect itself against ransomware in 2024 and beyond.
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