New report from Datto shows that ransomware attacks continue to be the leading form of cyber attack experienced by small- and medium-sized businesses, with 4 of 5 MSPs having clients hit over the last 2 years.
In what is shaping up to be a major test case for the entire cyber insurance industry, Zurich Insurance is refusing to pay out a $100 million claim from Mondelez, saying that the ransomware attack was actually an act of “cyber war,” and therefore, is not covered by the policy.
In just a few years, cyber extortion has gone from a fringe hacking activity to something that is now very much mainstream. In fact, it’s now possible for hackers to make upwards of $360,000 per year by joining a cyber extortion team.
Just a few simple strings on malware are all it takes to defeat Cylance antivirus software. This is a crushing blow for those who predicted AI and machine learning are the future of antivirus protection.
Even though Norsk Hydro cyber attack is projected to cost the company $75 million, the refusal to pay ransom and transparent working with law enforcement during the attack could mean a new standard for cyber security.
Agencies of nearly two dozen small cities and towns in Texas were hit with a ransomware attack that crippled key city services like payment processing operations and printing of identity documents.
National ransomware epidemic hits municipalities, school districts and local government agencies with 621 attacks recorded this year. Things are so bad that U.S. is drafting new legislation to prevent, mitigate and respond to future attacks.