2024 Ransomware is as Scary as Ever

If you’re not familiar with ransomware, we wish we lived in the same universe you’ve been living in the past decade. It’s a serious problem for all types and sizes of businesses, not to mention its impact on individuals, governments, and world organizations. Today, we want to go over some of the latest ransomware tactics in use as of 2024.

Attacks Grow More Sophisticated

Ransomware has been known as one of the more dangerous threats out there, and for good reason.

With sophisticated technology like AI powering more recent variants, hackers can infect more computers with ransomware and cause a lot of damage. In the past, they would send fake emails with bogus links, but AI can help hackers find weaknesses in security. The attacks then become much harder to protect against.

With so much firepower to consider, you want to be as vigilant as possible against these attacks.

Multi-Extortion Attacks

It started with a simple ransom, but ransomware attacks are not so simple anymore.

These attacks used to only demand payment for a decryption key, but now, these threats are using triple-extortion. The ransomware will lock your files and demand a ransom as per usual, but in addition, it will threaten to leak the private data if you don’t pay within a certain timeframe. To make matters worse, these attacks will also threaten your contacts, family, or customers.

When a threat like this is made, companies quickly shut up and hand over the money—even if they shouldn’t.

Even Infrastructure Is At Risk

2024 ransomware is striking high-profile targets that it didn’t previously consider.

Nowadays, hospitals, power grids, and transportation systems are also at risk. These attacks are insidious in that they force decision makers to either pay up or put innocent lives at risk. These are some of the biggest attacks that have governments worried.

Who’s to say just how far cybercriminals will stoop in their efforts to extort others?

Hackers Are Trying New Payment Methods

It used to be the case that hackers would demand Bitcoin, but now things are changing.

In 2024, police and law enforcement have wisened up to how to track where the money goes. Hackers are using this adjustment as an opportunity to explore alternative payment methods that are harder to trace. Every time authorities zero in on new payment methods, hackers adjust to give them the slip.

While it’s pleasant to imagine this as a game of cat and mouse, ransomware is anything but a game.

Don’t let your business fall prey to ransomware! Learn more about how to secure your business by calling Phantom Technology Solutions at (800) 338-4474.