Ransomware gangs are steadily picking up on their extortion techniques. As a result, this has left organizations worldwide with no option other than to pay the demanded ransom.
Where it all started
- It all started with the Maze ransomware gang who terrorized its victims with the ‘naming and shaming’ strategy. As a part of the strategy, the attackers threatened to reveal the company’s name, as well as its confidential data, if the ransom demand was not met.
- Eventually, the tactic was followed by other ransomware operators to ensnare more victims.
- However, it didn’t stop there and ransomware gangs formed a cartel to make the extortion strategy more resilient and robust against organizations.
- To further maximize the profit, the gangs moved quickly to the double-extortion strategy, with more than 550 incidents in the fourth quarter of 2020 alone.