DDoS attacks, which cybercriminals threaten to launch if victims refuse to pay a ransom ,have doubled in the past year. Specifically, an analysis of cyber threats and criminal activity by security researchers at Neustar found that the number of DDoS attacks increased by 154% between 2019 and 2020.Financial services, telecommunications, and government services are some of the industries most targeted by hackers. One reason why DDoS attacks are growing in popularity is because they are relatively simple to execute, even for “low-level” hackers.
Instead of having to rely on ransomware or other malware to compromise a network, hackers simply threaten their victims with DDoS attacks if they don't receive the ransom — usually demanded in bitcoin — within a deadline. Cybercriminals often present a glimpse of what could come with a DDoS attackin an attempt to force the victim to pay up.
All hackers carrying out DDoS attacks need is a botnet to overload target systems with traffic – something that can be obtained on underground forums at a relatively low cost – as well as the ability to threaten organizations with the prospect of such an attack via email.
As ZDNet reports, some hackers are pretending to be notorious state-run cybercrime groups like Fancy Bearin an attempt to scare victims into paying. As a result, many victims are afraid of being locked out, even though there are many ways to mitigate such attacks.
Organizations are urged not to pay ransoms to hackers, so as not to encourage further increase in DDoS attacks. In particular, Michael Kaczmarek, Vice President of Security Product Management at Neustar, pointed out the following: “ Organizations should avoid paying ransoms. Instead, any attack should be reported to the nearest law enforcement agency, as the information may help identify the attackers. In addition to this, organizations can prepare by creating a robust DDoS mitigation strategy, including assessing the risks, evaluating available solutions, reviewing mitigation strategies, and informing their plan and provider.”
