11/4/2021 Ray Wyman
SonicWall reports 495 million ransomware attacks this year, making 2024 the worst year on record.
The ransomware juggernaut is still rolling through global networks at ever-increasing speed and accuracy. Threat actors are battering through surprisingly weak cybersecurity defenses of some well-known and essential businesses and government agencies. To say that these hacks are causing problems and consternation threatens to be a gross understatement. These cyber threats are global, catastrophic, and potentially deadly.
A 148% Increase in the Number of Attacks
Meanwhile, SonicWall was back in the news with a new report titled The Year of Ransomware. The stunning headline is backed up with an updated third-quarter tally that shows ransomware attacks increased by 148%. With 495 million known ransomware attacks, 2021 is now the worst ever recorded. Additionally, SonicWall confidently forecasted that the year could end with 714 million ransomware attacks.
The report concludes a 33% rise in IoT malware attacks worldwide, the most prevalent being in the US and Europe. There was also a 21% increase in crypto-jacking in the US, with Europe inundated with a massive 461% growth.
Growing Concern: A 73% Increase in Unique Malware Variants
The company goes on to note that its customers experienced 1,748 ransom attempts during the third quarter. Put another way, there were 9.7 ransomware attempts per customer for each and every business day. The most troubling aspect of that incredible number is that SonicWall detected 307,516 “never-before-seen” malware variants. This represents a 73% increase over previous years.
SonicWall’s method to arrive at this number is its patented RTDMI™ (Real-Time Deep Memory Inspection) technology in its cloud-based Capture Advanced Threat Protection (ATP) sandbox service. Among several patented innovations, RTDMI leverages memory inspection and CPU instruction tracking with machine-learning capabilities. As a result, the system efficiently recognizes and mitigates cyberattacks, including threats that do not initially show malicious behavior.
This rise in variants shows cybercriminals’ growing ability to quickly diversify their attack software. Coupled with a constant flood of attacks, businesses and individuals will find it increasingly difficult to protect themselves.
A Rise in Other Attacks as Well
The Comms Council UK, representing telecoms in the UK, reports a rise in DDoS (distributed denial of service) attacks. Cybercriminals are using these attacks to extort money from their members.
The organization notes that these incursions are coordinated and extortion-focused. They claim that the UK telecom industry has never faced such a threat before.
Previously, DDoS attacks were seen as a blunt tool. However, without the latest cybersecurity technology, these attacks can be devastating. Even partial success can be harmful, and companies may now face ransom demands through this method.
A Nearly Unimaginable Upward Trend
“As we see it, ransomware is on a nearly unimaginable upward trend, which poses a major risk to businesses, service providers, governments, and everyday citizens,” said SonicWall President and CEO Bill Conner.
Despite movements to secure infrastructures, the UK has seen a 233% surge in the number of ransomware attacks, and the US has witnessed a 127% year-to-date increase.
A Grace Period Comes to an Abrupt End
As the sheer volume of attacks illicit words like “global crisis,” “ruthless,” and “a significant national security threat,” people appear to be content to restore a sense of normalcy. And yet, the crisis continues unabated.
“Cybercriminals have never let up, driving ransomware campaigns to record numbers through the first three quarters of 2021,” said Conner. “These criminal organizations will continue to launch highly sophisticated cyberattacks that are designed to target organizations and businesses with weak or lax security controls.”
Conner has a point. With the flood of attacks from all directions, companies and governments will find it increasingly challenging to protect their networks and assets with old or out-of-date security.
The real-world damage we’re experiencing is far beyond anecdotal. We’re staring down the avenue of a global crisis that has already taken a severe toll on businesses and governments everywhere.
The only thing we can conclude is that any grace period we may have enjoyed from having to enforce stricter cybersecurity has ended abruptly.
“The techniques deployed by ransomware actors have evolved well beyond the smash-and-grab attacks from just a few years ago,” said SonicWall Vice President of Platform Architecture Dmitriy Ayrapetov. “Today’s cybercriminals demonstrate deliberate reconnaissance, planning, and execution to surgically deploy toolchains targeting enterprise and government infrastructure. This results in larger victims and leads to higher ransoms.”