Ransomware Attacks Increasing Drastically in the United States

Ransomware is a type of malware from crypto virology that threatens to publish the victim’s data or perpetually block access to it unless a ransom is paid. 

While some simple ransomware may lock the system so that it is not difficult for a knowledgeable person to reverse, more advanced malware uses a technique called crypto viral extortion. It encrypts the victim’s files, making them inaccessible, and demands a ransom payment to decrypt them. 

Most Recently, a cyberattack was made on JBS Meat Plants one of the world’s largest meat processors forcing the shutdown of nine beef plants in the United States and disrupted production at poultry and pork plants. This attack could upset the nation’s meat markets and raises new questions about the vulnerability of critical American businesses. 

cyThe breach at JBS was a ransomware attack, and the second recent such attack to freeze up a critical U.S. business operation. Last month, a ransomware attack on Colonial Pipeline, which transports gas to nearly half the East Coast, triggered gas and jet-fuel shortages and panic buying in several Southern cities including Charlotte. NC.  

Attacks are growing in number and scale as millions of people across the country work or attend school remotely, in some cases opening back doors to networks without corporate or institutional security protections. 

Hackers have grown adept at communicating about vulnerabilities on the Dark Web, a network of computers that can share information anonymously. The ability to demand payment in cryptocurrency limits law-enforcement tracking capabilities. And the growth in insurance policies that cover ransomware payments has helped seed an increasingly professionalized ransomware industry. 

“When you don’t prioritize Cybersecurity, you get the results of Colonial Pipeline, JBS, Sony, TJX, IRS, DoD PMO, Equifax, etc. It’s imperative that you treat every communication with a hint of suspiciousness, verifying in business is okay and necessary.” Says Erik Bennet, Innovation & Technology Director at BSI Solutions, Inc. 

Ransomware is likely the most serious cybersecurity threat to the U.S. and at the rate its going the problem will only get worse in the years ahead. There is no official U.S. clearinghouse to track ransomware cases, but nearly 2,500 were reported to the Federal Bureau of Investigation last year, an increase of 66% from 2019. 

In 2020, ransomware victims paid hackers at least $350 million in cryptocurrency payments, a dramatic increase from the previous year. Security experts and cybersecurity officials have estimated the overall toll on the U.S. economy registers in the billions annually. 

For more information on BSI Solutions, Inc. visit us at www.bsisnc.com.