32 new ransomware families identified in 2021: Report

Hyderabad: The ransomware attacks are increasing year after year even as the mechanisms to check these crimes are also evolving. According to a recent report, about 32 new ransomware families were identified in 2021, bringing the total to 157 and representing a 26 per cent increase over the previous year. As per Ivant’s Ransomware Spotlight […]

Hyderabad: The ransomware attacks are increasing year after year even as the mechanisms to check these crimes are also evolving. According to a recent report, about 32 new ransomware families were identified in 2021, bringing the total to 157 and representing a 26 per cent increase over the previous year.

As per Ivant’s Ransomware Spotlight Year End Report, the ransomware groups are continuing to target unpatched vulnerabilities and weaponise zero-day vulnerabilities in record time to instigate crippling attacks. At the same time, they are broadening their attack spheres and finding newer ways to compromise organisational networks and fearlessly trigger high-impact assaults. The report was published in coordination with Cyber Security Works, a Certifying Numbering Authority (CNA), and Cyware, the leading provider of Cyber Fusion, next-generation SOAR and threat intelligence solutions.

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The report pointed out there was a 29 per cent increase in common vulnerabilities and exposure (CVE) associated with ransomware and a 26 per cent increase in ransomware families in 2021 compared to the previous year. The analysis uncovered 65 new vulnerabilities tied to ransomware last year, representing a 29 per cent growth compared to the previous year and bringing the total number of vulnerabilities associated with ransomware to 288.

“Alarmingly, over one-third (37 per cent) of these newly-added vulnerabilities were actively trending on the dark web and repeatedly exploited. Parallelly, 56 per cent of the 223 older vulnerabilities identified prior to 2021 continued to be actively exploited by ransomware groups,” the report informed.

With 157 ransomware families exploiting 288 vulnerabilities, ransomware groups are poised to wage rampant attacks in the coming years. And according to Coveware, organisations pay an average of $220,298 and suffer 23 days of downtime following a ransomware attack.

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