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The Business of Cybercrime: Ransomware as a Service

You’ve probably heard of ransomware before, but do you know how it works? Or where it comes from? In this article, we’ll take a closer look at ransomware as a service (RaaS) and explore how to keep yourself safe.

Ransomware is malicious software that encrypts your data, then demands a ransom payment to unlock it. RaaS is a hacking service that allows anyone with minimal technical skills to launch ransomware attacks.

This business is growing rapidly, and compromised US businesses paid over $1.2 billion in 2021, and this is expected to double in 2022. But who’s behind all of this? And what can be done to stop it? Read on to learn more.

What Is Ransomware as a Service?

So what exactly is ransomware as a service? Well, it’s when a hacker rents out their ransomware software to other criminals. And yes, you can actually find these services for sale on the dark web.

Here’s how it works: the person who wants to use the ransomware buys it from the hacker, and then they’re able to customize it with their branding and messages. Then, they launch it on victims’ computers and demand a ransom in return for the decryption key.

Of course, there’s no guarantee that the victim will get their data back even if they pay the ransom. In fact, there have been cases where victims have paid up only to discover that the hackers don’t have a decryptor.

How Does Ransomware as a Service Work?

Hackers create a ransomware program and then offer it to other criminals for a fee. The people who use the ransomware then pay the hackers a percentage of whatever they make from their victims.

It’s a pretty simple setup, but it’s also incredibly effective. Ransomware as a service has become one of the most popular methods for hackers to make money because it’s much easier and more profitable.

According to a recent report, the average ransom paid by businesses to ransomware attackers is now over $100,000. And that number will only go up as more businesses become victims of these attacks.

What Are Some Examples of Ransomware as a Service?

There are a few different types of ransomware as a service that you should be aware of:

One of the most common is Egregor/Maze, a type of ransomware often used to target businesses. This type of ransomware is particularly dangerous because it encrypts files and steals data. Once the data is stolen, the hackers will threaten to release it unless the victim pays a ransom.

Another type of ransomware as a service is Lockbit. This type of ransomware is typically used to target individuals rather than businesses. Lockbit works by encrypting files and then demanding a ransom from the victim. The ransom is usually paid in Bitcoin, which makes it difficult to trace.

Finally, there’s Revil and Ryuk. These are both types of ransomware that are often used to target businesses. Revil works by encrypting files and then demanding a ransom from the victim. Revil is particularly dangerous because it can encrypt entire hard drives. This means that if you’re infected with Revil, you could lose all of your data unless you pay the ransom. Ryuk, on the other hand, encrypts files and then deletes them. The hackers will then demand a ransom from the victim to restore the deleted files.

What Can You Do to Protect Against Ransomware as a Service?

There are a few things you can do to protect yourself against ransomware as a service:

– Keep backups of your important data. That way, if your data is encrypted by ransomware, you can restore it from your backup.

– Make sure your software is up to date. Hackers often exploit vulnerabilities in old software versions to deploy ransomware. Keeping your software updated can close these vulnerabilities and make it more difficult for hackers to target you.

– Provide cyber security training for your employees. They should know what ransomware is and how to identify it. They should also know how to report any suspicious activity to IT so that appropriate action can be taken.

– Use endpoint protection solutions. These solutions can detect and block ransomware attacks, protecting your data from being encrypted.

Protect Yourself from Ransomware as a Service With Cyber Sainik

Ransomware as a service is a growing problem. It’s easy for anyone to get involved, and it’s becoming more and more profitable. The best way to protect yourself is to be aware of the risks and take steps to protect your data.

If you think you may be a ransomware victim, you should first contact a professional who can help you recover your data. Don’t try to pay the ransom yourself, as there’s no guarantee that you’ll get your data back.

Cybercrime is a serious problem, and it will only get worse. At Cyber Sainik, our Ransom as Service experts will help you develop strategies and employ advanced tools to protect yourself. Contact us today to schedule a consultation with the cybersecurity experts at Cyber Sainik.