While ransomware has been around for decades, its prevalence has exploded in the last few years. These attacks used to be perpetrated by individuals; now, they’re launched by networked groups of affiliates who buy and sell each other’s specialized skills and toolkits. Attacks were once unfocused and one-dimensional; now, they use targeted, multilayered tactics that are much harder to defend against and command much higher ransoms. Ransomware is expected to cause $42 billion in damages by the end of 2024.
Arguably, the most impactful trend in modern ransomware is the advent of double-extortion attacks, in which attackers steal data and threaten to publish it in addition to encrypting it. Roughly 50% of ransomware attacks now include attempts to exfiltrate data.
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