The perils of Ransomwares are yet to be ascertain

WannaCry Ransomware is a game changer at all levels in the arena ruled by the likes of Reveton, CryptoLocker, CryptoWall, Locky etc. WannaCry has not just utilised the encryption capabilities but also exploited vulnerabilities to propagate. WannaCry gained prominence due to its worm-like propagation method and due to sheer fact that the Eternal Blue vulnerability used by it was in fact found in the arsenal of NSA.

However, for the past week, WannaCry wasn’t the only Ransomware which wreaked havoc; Wallet and JAFF have too dominated, although the focus was on WannaCry.

Our R&D team has released the breakdown of the various Ransomware attacks in the past week, added that in the coming few weeks, moreover there would be an increase in such attacks. However, we could observe increased activity amongst the various variants and families of different Ransomware, vying for the top position.

From the available statistics, it is apparent that Wallet/Jaff Ransomware commanded 41 percent of the total Ransomware incidents, while WannaCry was at 11 percent. There are other families of Ransomware which have continued to maintain their onslaught, however; these are intermittent attempts which just add up to the numbers. However, it is to be noted that Ransomware, be it any variant of any family, is the most destructive piece of malware to have ever been created.

The cyber-crime ecosystem thrives on:

• Fame
• The depth of the attack
• Stability of the infection
• Reliability of the Malware
• The most important of all is the ability of the authors to provide FUD (Fully Undetectable) at a very fast pace.

Cyber Criminals are aware of these facts and in order to increase their revenue and grab their share of spoils are working hard to unleash a new wave of destruction. This reinstates the fact the perils of Ransomware are still to be ascertained in terms of the damages it would cause. Apart from that, the attacks are going to be more aggressive and stealth in their ways and means, than before.  The future is also uncertain, due to the fact that the anonymity offered by Crypto-Currencies has been embraced by cyber-criminals and till the crypto-currencies are not in check, they will elude the law by staying anonymous.

There is stiff also competition amongst the various families of Ransomware, as to who is the best and better of all and as we can observe, the fight for the top place has already begun. This creates another larger threat in terms of proving who is bigger; the attackers would compete with each other wreaking havoc worldwide. In view of such possibilities, it is imperative that every user of technology takes utmost precautions and remain alerted towards the outbreaks, so as to stop the evils of Ransomware.

Authored by Mr Govind Rammurthy, MD & CEO at eScan