What Are the Different Types of Ransomware?

Author: InterVision
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Business networks are vulnerable to a ransomware attack when users don’t practice caution while browsing the internet or clicking on unknown links. There are several safety precautions built into modern technology to help combat these issues, but the fact of the matter is that over 4,000 daily ransomware attacks have happened in the U.S since 2016. In the United States, the average period of downtime following ransomware attacks on businesses and organizations was 22 days in 2021. Ransomware can take hold of your data with just a few clicks.

Ransomware Protection as a Service™ (RPaaS™) from InterVision can help prevent ransomware from holding your business’s data hostage with the peace of mind knowing you’re secured. Understanding what to look out for will help keep you safe and secure.

 

What Is Ransomware?

Ransomware is a type of malicious software, sometimes referred to as malware, that encrypts data on a computer and makes it unusable. A malicious cybercriminal holds the data hostage until the ransom is paid. The victim’s data will be rendered unavailable if the ransom is not paid. Threats to erase or release the victim’s data to the public may also be used to get victims to pay the ransom.

 

What Is the Most Common Type of Ransomware?

Phishing is a ubiquitous ransomware tactic used to infect computers all over the world. In 2020, around 306.4 billion emails were sent and received each day—by 2025, this number is predicted to exceed 376.4 billion per day. What’s more is, as of 2020, 1 in 3000 of these emails contain some type of malware. But phishing emails aren’t the only source of ransomware, despite how common they are. Cybercriminals can also access computers with Remote Desktop Protocol (RDP) and software vulnerabilities. In these cases, they use trial-and-error to retrieve credentials and take advantage of security weaknesses in widely used software programs, respectively. Beyond how ransomware is contracted, what are the most common types to look out for?

 

5 Types of Ransomware

Distributing false links and hacking leads to the five most common ransomware that can affect businesses’ data integrity. If a computer or network is compromised, it’s important to understand which types of ransomware are infecting it and take the necessary steps to fix it.

  1. Crypto ransomware encrypts important files on a computer, rendering them useless. Cybercriminals that use crypto ransomware assaults make money by encrypting information and demanding that victims pay a ransom to get their contents back. Despite the name, crypto ransomware doesn’t involve cryptocurrency.
  2. Locker ransomware does not encrypt files, but locks a victim completely out of their system so the files are inaccessible. The ransom demand is shown on a lock screen, sometimes with a countdown clock to build urgency and force victims to act.
  3. Scareware is fake software that claims to have identified a virus or other problem on your computer and then directs you to pay to fix it. Some scareware disables the computer, while others just fill the screen with pop-up messages without affecting the contents. These software can look very legitimate, making it easier to fall prey to the demands.
  4. Ransomware as a Service (RaaS)—not to be confused with RPaaS—refers to criminals renting access to a ransomware strain from the ransomware’s author, who offers it as a pay-per-use service. RaaS creators, similar to the SaaS model, put their ransomware on dark web sites and encourage criminals to subscribe to it.
  5. Doxware/leakware/double extortion encrypts files and exports data to coerce victims to pay a ransom. If attackers deploying double extortion ransomware do not have their demands met, they threaten to release critical personal or business information online. This causes many victims to fear and pay the ransom in order to avoid their private information from falling into the wrong hands or being released into the public domain.

Each type of ransomware holds a computer or network’s data hostage until the victim agrees to pay the sum (typically with cryptocurrency), but it is achieved differently. Whether they encrypt the data or lock the whole system, it’s clear that businesses’ networks are vulnerable without ransomware protection solutions.

 

InterVision: The #1 Solution to Ransomware

The cost of ransom demands have increased, with the average payment being over $170,000 for mid-size companies. Despite the payment size, the average cost of recovering from a ransomware attack is $1.85 million. A ransomware attack on your business’s data is difficult to recover from financially. Fortunately, you may take several cybersecurity measures to help protect yourself against ransomware.

One security measure your business can take is Ransomware Protection as a Service from InterVision. The first and only comprehensive approach to ransomware threats in the market, RPaaS focuses on the whole detection, prevention, and recovery lifecycle. RPaaS ensures that you have everything in place to deal with risks proactively. Visit our website today to learn more about how RPaaS can help you.