Discover the different types of ransomware

As everything in our digital world, ransomware continues to evolve, and at a rapid pace! It poses an increasing threat to businesses in every sector and every region.

As it keeps evolving, the types of ransomware keep growing as well. In this article we highlight the 5 most common types. We give a simple example for each type to illustrate how they can possibly impact an organization of any size.

Not sure what ransomware is, how it works and what the impact is, click here.

1. Crypto Ransomware

This type of ransomware encrypts the most critical business files and demands a ransom for the decryption key.

The encryption is often so complex that decrypting the files yourself without the key is practically impossible. The attackers often use phishing emails to distribute the ransomware.

The impact?
As the effect is immediate, the loss of access to critical data is dramatic, it can stop business operations from moment . The recovery is almost always a costly and time-consuming process, which leads to financial and reputational damage.

Example:

For instance, a major law firm might find its case files locked right before important court dates, crippling their operations until the ransom is paid.

 Beyond this immediate impact, there’s also the risk that confidential case information could be published, severely damaging client trust and the firm’s own reputation.

2. Locker Ransomware

This ransomware variant locks users out of their operating systems. It really just locks the screen or the user interface of a device, preventing access to any functions or files.

The lock screen, most of the time, displays a ransom note that includes payment instructions.

The impact?
While the critical data itself is not usually harmed, the fact users cannot access their systems puts business activities on hold. The straightforward nature of locker ransomware usually makes it easier to remove than crypto ransomware, but access is still denied until action is taken.

Example:

Imagine an advertising agency unable to access their design software and ongoing campaigns during a crucial product launch due to such an attack.

3. Scareware

Scareware is a type of ransomware that’s not seen often. But when you’re a victim they will bombard the user with misleading or false alerts about non-existent threats.

This creates the non-aware user to purchase unnecessary software services (fake malware removal software) or give up their credit card information.

The Impact?
While scareware may seem “less” dangerous, it can lead to financial loss and can sometimes be a gateway for more malicious software if the user follows through with the instructions on the scareware alerts.

Example:

A CEO might receive a pop-up claiming a severe threat has been detected, prompting an immediate payment to resolve what is actually a non-existent problem.

4. Doxware or Leakware

Doxware (or leakware) will first encrypt critical data, afterwards it will also threaten the company to release this critical information publicly (or on the darkweb). The only way according to the attacker? Pay a ransom!

The impact?
The threat that critical data will be made public (or even sold to the highest bidder) can escalate the urgency to resolve the attack. We often see that these kind of attacks lead to hurried decision-making and as a result; paying the asked ransom.

The impact when the critical data is exposed can be devastating, for the organization itself but also for their clients and partners.

Example:

Consider a scenario where confidential client data from a financial or healthcare institution is at risk of being leaked, potentially leading to legal repercussions and severe reputation damage.

5. RaaS (Ransomware as a Service)

The Ransomware as a service (RaaS) model allows cybercriminals to launch ransomware attacks using tools developed by others. The developers allow their software to be used for a share of the ransom.

These “developers” even handle the complete infrastructure and updates of the platform. While the cybercriminal should only focus on distributing the ransomware and collecting the ransom.

The impact?
RaaS platforms lower the entry barrier for cybercriminals, potentially increasing the frequency and breadth of ransomware attacks. This can lead to a greater number of businesses being targeted, including smaller businesses that might not have been direct targets previously.

Example:

A small retailer becoming the target of a ransomware attack deployed by an inexperienced hacker using a RaaS platform.

ACEN, your co-pilot against ransomware attacks

Get in touch with William Rosenhek, our cybersecurity advisor and discover how we go beyond the basics to guard your business from ransomware. 

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