Page 141 - Cyber Defense eMagazine October 2023

It’s important to know that the ransomware attackers who perform high amounts of breaches, such as
Cerber, are using the blockchain to perform their attacks more efficiently. The teams must fight hard by
coupling AI solutions to react to the attacks sooner.

6. Zero Day vulnerabilities

There are various ways for creative rivals to breach the victim's network. The user credentials, which are
generally stolen or bought from the online markets, are the main routes; however, the software is also
vulnerable to this kind of exploit. Professional ransomware attackers are now evolving using zero-day
susceptibilities for their malware practices. The LockBit ransomware group has raised a reward of 50,000
dollars for flaws in their encryption system.

Most common types of ransomware

• Lockers

It is the type of ransomware that fully locks your system so your data is completely inaccessible. On the
lock screen, the ransom demand is presented along with the timer to increase the urgency and force the
victim to act accordingly.

• Crypto ransomware

Crypto ransomware or encryptors are the most damaging variant of ransomware. It encrypts the files in
a system, making the whole content inaccessible.

• Ransomware as a service

It is done by a professional hacker anonymously. He handles all phases of the attack, from the circulation
of ransomware to the assortment of cash.

Real-life examples of ransomware

Caesar Entertainment company and MGM Resorts both have been the victim of ransomware. However,
the Caesars attack happened before the MGM resort attack, which locked their whole system, and the
guests had to wait for hours to check in to the hotel.

If we see the reports of the World Economic Forum, the cyberattacks were happening globally up to
156% in the second quarter if we compare it to the first quarter of 2023. Last year, the revenue of both
companies was above 10 billion dollars, and both were targeted by ALPHV or black cat and Scattered
Spider. Both these gangs used social engineering to gain access to the IT systems of the firms. The
ALPHV states that they infiltrated the MGM resort system after identifying a tech employee of this
company on LinkedIn and then giving a call to customer support. In contrast, the Scattered Spider tricked
an employee of Caesars at a third-party dealer. The ransom attackers demanded 30 million dollars from
Caesars.

Cyber Defense eMagazine – October 2023 Edition 141
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