Ransomware attacks set to rise to record levels in 2024 despite law enforcement crackdowns

Why it matters: There person been respective incidents of authorities shutting down awesome ransomware operations this year, including nan seizing and disruption of LockBit. As such, you'd beryllium forgiven for reasoning that ransomware is declining, but it's not. According to an expert, 2024 is group to beryllium different record-breaking twelvemonth for this type of malware, pinch victims handing complete much money than ever before.

Allan Liska, a threat intelligence expert astatine cybersecurity patient Recorded Future, said to TechCrunch astir nan depressing authorities of ransomware successful 2024.

"The curve is going to flatten a small bit, which I conjecture is bully news. But a record-breaking twelvemonth is still a record-breaking year," Liska told nan publication. "We've besides this year, for nan first clip that I'm alert of, had 4 eight-figure ransoms paid."

In February, UnitedHealth-owned wellness tech institution Change Healthcare suffered a information incident that was later confirmed to beryllium nan activity of an connection of Russian ransomware pack ALPHV, aka BlackCat, which stole nan aesculapian information of astatine slightest 100 cardinal Americans. UnitedHealth paid nan pack $22 million, 1 of nan eight-figure ransoms Liska mentioned.

Ransomware attacks are usually associated pinch gangs encrypting a target's systems, preventing entree until money for a decryption cardinal is paid. However, Liska says there's been a emergence successful data-theft-only attacks this year, up 30% successful 2024.

"A batch of nan newer threat actors conscionable don't want to woody pinch encryption, decryption, aliases thing for illustration that," he said.

In February, rule enforcement agencies from 12 countries came together successful a joint operation that saw nan LockBit ransomware website taken down (below), nan seizure of servers captious for nan group's infrastructure, and nan apprehension of respective pack members, including 1 while he was vacationing extracurricular of Russia. Ransomware pack Radar (aka Dispossessor) besides had its servers seized by nan FBI.

Despite these victories, Secureworks revealed this week that location has been a 30% year-over-year emergence successful progressive ransomware groups this year, pinch 31 caller groups appearing.

Law enforcement agencies usually counsel victims not to salary ransomware gangs arsenic there's nary guarantee they will manus over/decrypt nan data, but it still happens. White House cyber leader Anne Neuberger suggested a measurement to extremity this was to prohibition security institution policies that screen reimbursement of ransomware payments.

Liska antecedently stated that banning payments wasn't nan answer, but pinch eight-figure ransom payments incentivizing much attacks, he now believes it whitethorn beryllium necessary. "My reply is: prohibition ransom payments, which is simply a unspeakable solution, but it whitethorn beryllium nan least-bad solution that we have," he said.

Masthead: Sebastiaan Stam