In a year that has been largely shrouded by uncertainty whether that be Brexit, Trump’s America or the developing situation in North Korea, the only thing that seems certain is that cybercrime is going to happen and it’s on the rise – the latest victims? Ukraine and Russia.
A new strain of ransomware which has been given the nickname “Bad Rabbit” is spreading across countries affecting websites, airports and even underground railways. This latest attack follows a year that has been one made up of many mass scale and widely publicised attacks already, for example the NHS attacks which saw more than 300,000 computers effected in what has been dubbed “The Biggest Ransomware Offensive in History or Petya ransomware attacks. The prevalence of these attacks has led Chris Greany, former Commander of the City of London Police, to suggest that Cyber-crime in the UK is growing at a CAGR of 120% per annum; a UK business is 14 times more likely to suffer a cyber-attack than a traditional robbery.
This new bad rabbit strain has many similarities to the likes of the Petya outbreak earlier in the year however there is still a lot unknown about this latest hack, including how far the new malware is able to spread. The levels of damage have been varied although "In some of the companies, the work has been completely paralysed - servers and workstations are encrypted," head of Russian cyber-security firm Group-IB, Ilya Sachkov, told the TASS news agency.
The Bad Rabbit ransomware encrypts the contents of a computer and then asks the user for a payment, which seems to be around 0.05 bit coins, which is roughly £213 however the US computer emergency readiness team said it "discourages individuals and organisations from paying the ransom, as this does not guarantee that access will be restored".
As it stands, this malware which is going largely undetected by the majority of anti-virus programs, seems to have hit Russia the hardest with Ukraine, Turkey and Germany also registering attacks although US officials said they had "received multiple reports of Bad Rabbit ransomware infections in many countries around the world".
These attacks yet again prove the importance of being cyber secure or you risk damage to your business that could take years to recover from. At Solar we pride ourselves on staying ahead of the curve to mitigate the risk of attacks like this affecting our customers.
If you are worried about an attack or have any questions, why not join us on November 16th at the Etihad where, together with industry experts, we will be discussing the latest in ransomware and will be providing all attendees a FREE cyber security audit to take back to your business.
This truly is an event not to be missed if cyber security is important to your business.