Page 50 - Cyber Defense eMagazine April 2023

How To Survive a Ransomware Attack and

Fix Ransomware Breach Face

By Derek Nugent, Vice President of Revenue at Difenda

Ransomware attacks have become a growing concern for businesses and individuals alike. Each year
there are over 236.1 million ransomware attacks globally. The frequency of successful ransomware
attacks has increased dramatically in recent years, and the damage caused by these attacks can be
severe, including but not limited to emotional distress such as #RansomwareBreachFace, financial loss,
data loss, business interruption, and reputational damage.

For example, in July 2021 a group of threat actors targeted the Florida-based software company, Kaseya,
using a vulnerability in their VSA software. The attackers compromised over 1,000 businesses worldwide
and demanded a ransom of $70 million in Bitcoin to release the encrypted data. The attack caused
widespread disruption to businesses, with many unable to access their systems or data. Some
businesses even had to shut down operations temporarily, and others lost valuable data.

Ransomware attacks like this one cost the world $20 billion in 2021. That number is expected to rise to
$265 billion by 2031. Thousands of people are suffering from ransomware breach face every day.

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