Out of 10 key metrics tracked quarterly to establish the state of ransomware activity, only one metric stayed static from Q1 to Q3 2022. The other nine all worsened. That’s an alarming trend, especially given that many business leaders hoped to see ransomware activity taper off after a historic surge during the peak of the pandemic. Ivanti, together with Cyber Security Works and Cyware, collaborated on the just-released report.

Here in this blog, we will talk about some of the emerging ransomware you should know about and how you can prevent such attacks.

Ransomware is the gift that keeps on giving. Old as it is (33 years) ransomware is constantly morphing into new exploits. The reason is simple. Ransomware works and too often cybercriminals walk away with bags of money (or piles of Bitcoin, anyway). “Following the World Health Organization's AIDS conference in 1989, Joseph L. Popp, a Harvard-educated biologist, mailed 20,000 floppy disks to event attendees.

Ransomware was, once again, the top cyberattack type of 2021. It has been at the top of the threats list for three years in a row. Experts estimated that a ransomware attack occurred every 11 seconds last year. The average cost of ransomware recovery was estimated to be $1.85 million. These statistics explain why some have proclaimed ransomware to be a modern threat to public safety. In this blog, we’ll demystify ransomware and answer some key questions pertaining to it.

Ransomware threatens the loss of crucial data as well as financial loss. However, with the right knowledge and tools, you can take action to protect your business from the damaging effects of ransomware. In a 2022 Coveware Q1 ransomware report, the average ransom payment was $211,529 with an average of 26 days for downtime suffered. Ransomware obviously continues to be a huge and costly threat to industries across the board.

It seems that every day we see another ransomware headline. But too often, backup and data protection solutions treat ransomware recovery just like any other type of recovery. The truth is recovery from ransomware has different requirements (and different best practices) than recovery from fire, flood, or hardware failure.