Posted on

Ransomware is a global problem that needs a global solution



Share

This time last year, we were optimistic. It seemed like the tide was turning on ransomware after the U.S. government scored a handful of wins against the cybercriminals carrying out these increasingly damaging attacks: the Justice Department successfully seized $2.3 million in bitcoin that Colonial Pipeline paid to the DarkSide ransomware gang to reclaim its data, and months later it played a part in bringing down the notorious REvil ransomware gang.
Our optimism was short-lived. Despite this action, 2022 looks set to top last year as the worst year on record for ransomware attacks; a recent report shows that attacks have increased by 80% year-over-year and that the cybercriminals responsible for these attacks have easily dodged low enforcement action by taking advantage of ransomware as a service, or by simply rebranding.
“It’s clear that ransomware attacks are on the rise,” Matthew Prince, CEO of Cloudflare, tells TechCrunch. “In September 2022, nearly one in every four respondents to our customer survey reported receiving a ransomware attack or threat, the highest mont …

Read More