New EU datashows that serious cyberattacks on critical targets in Europe doubled in 2020 as the COVID-19 pushed people to rely more on the internet. The European Network and Information Security Agency, ENISA, told CNN that there were 304 major, malicious attacks on “critical sectors” in 2020, highlighting a worrying increase compared to the 146 recorded in 2019.The agency also reported a 47% increase in attacks on hospitals and healthcare networks during the same period.
The data shows the growing global impact of cyberattacks – often in the form of ransomware – which had a major impact in the US when the Darkside targeted the Colonial Pipeline network, causing temporary fuel shortages.
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According to research conducted by British cybersecurity company Sophos on businesses, the average cost of a ransomware attack has doubled this year. The cost in 2020 was approximately $761,106, but so far this year, that number has reached $1.85 million. The cost includes insurance, business losses, as well as any ransom payments.
John Shier, senior security consultant at Sophos, said the rising costs reflect the greater sophistication of some attacks, noting that while the number of attacks has decreased, their sophistication has increased.
Both John Shier and Apostolos Malatras (ENISA knowledge and intelligence team leader) pointed to the emerging threat of “triple blackmail,” in which ransomware hackers encrypt data on a target’s systems and extract it so they can then threaten the victim with leaking it online if the latter refuses to pay a ransom. Later, the attackers move on to a third phase, in which they use this data to attack the target’s systems and blackmail their customers or contacts.
Another threat involves “fileless attacks,” in which the ransomware is not contained in a file, which hackers typically gain access to by exploiting human error – such as clicking on a suspicious link or opening an attachment. In fileless attacks, hackers infiltrate a computer’s operating system and often “live” in RAM, making it harder for antivirus software to detect.
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The US Department of Justice (DoJ) announced last week that it will handle ransomware attacks like terrorism cases, with the Biden also urging businesses to take the ransomware threat more seriously and strengthen their cyber defenses.
The approach is in line with that adopted by other countries, including the United Kingdom, which in November publicly acknowledged the existence of a National Cyber Force (NCF), targeting key cyber threats in the United Kingdom.
While law enforcement and security experts argue that the best policy is not for victims to pay ransoms – as doing so empowers and encourages criminals to continue their activities – there is some hope for companies that do pay.
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Additionally, better technology allows some security firms to track cryptocurrency, usually Bitcoin, as criminals transfer it to different accounts.
This week, FBI investigators managed to recover most of the money paid to the Darkside ransomware gang from Colonial Pipeline, after the attack caused a major disruption to natural gas supplies in the US.
Cybersecurity firm Elliptic, which assists the FBI in such cases, said the short time the Darkside gang had the money suggests they were unable to launder it, so it was easy to trace.
The tricks cybercriminals use to hide illicit cryptocurrencies from their activities are increasing in sophistication. Some are even using “mixer wallets,” which allow users’ cryptocurrencies to be mixed together, making it difficult to trace the owner.
