♭DoSĪ DDoS attack, or distributed denial-of-service attack, involves attackers employing a large network of systems to flood a target with traffic, to render the target's website, server, application, network or even entire system unusable. One of the more recent incidents of this type was the Equinix ransomware attack, perpetrated by the infamous Netwalker ransomware. Not to mention that once you're labeled as a victim who will pay the ransom, chances are likely to increase that you'll be attacked again. Additionally, cyber criminals have a known tactic of asking for small amounts of ransoms and do, in fact, give the decryption keys they can earn huge profits this way. And if you do pay the ransom, who can guarantee that the cyber criminals would return your access? They are criminals, after all. What makes ransomware attacks particularly dangerous is the fact that if you don't pay the ransom, you run a high risk that your files will be deleted forever.
#Extortion examples download#
Once ransomware is delivered, usually via email attachments, download links or ads, and the device is infected, the files on it are encrypted with a message that states the ransom amount required for the attackers to provide the decryption key. Ransomware itself is a type of malware that infects a device or a network, encrypts files on it or denies the owner access, with a demand for ransom in return. In 2020, ransomware attacks have grown by 150%, with the average extortion amount doubling from the year before. This can be done through several methods.Ĭyber criminals can use phishing emails, ad scams, infected websites and the like to target a wide range of victims and act opportunistically, by waiting for someone to take the bait or they can be targeted, which is the more usual route taken when going against organizations.Ĭyber extortion can arrive as the consequence of several different cyber risks and threats: ♬yber extortion and ransomware In order for cyber extortion to be possible, it needs to begin with malicious actors gaining leverage-getting access to the target's system and data. There are several ways in which malicious actors can carry out cyber extortion against their targets. In doing so, they may threaten malicious activity against the victim that includes data compromise, data theft, release of sensitive data to the public, infecting a device or a network with malware, shutting down systems or executing a denial-of-service attack. By threatening to release it publicly, render it unusable or simply destroy it, cyber criminals can get the financial reward they're looking for by demanding a ransom to stop the attack.Ĭyber extortion is one of the fastest growing types of cyber crime in which cyber criminals demand payment or other goods. While the stolen data in our first scenario has a clear (black) market value, cyber extortion involves information with inherent value to its owner.
#Extortion examples full#
When it comes to cyber extortion, the (financial) goal remains the same, but the full picture is a bit different. "Conventional" cybercriminals typically seek out information, such as financial and personally identifiable information, that they can then sell directly on the black market.
#Extortion examples Patch#
Attackers exploited a vulnerability in the Pulse Connect Secure VPN (which had a patch available) to extract data, for which they demanded payment of a $6 million ransom in exchange for its release.ĭespite being a large organization, Travelex suffered due to the technological and operational impact of the attack, and ultimately paid their attackers a sum of $2.3 million. In 2020, Travelex-the world's largest currency dealer at the time-was caught in the middle of a public and devastating cyber extortion campaign.
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