Just a few weeks ago, famous rock band Radiohead fell victim of a ransomware attack, where 18 hours of their music were leaked and a ransom of $150,000 was demanded in return.
The band did not pay the ransom and made the best of an unfortunate situation, transforming the attacker’s personal profit motive into charitable support for an environmental activist group.
Ransomware is the greatest cyber security threat now affecting organisations, professionals, artists, scientists and more. Ransomware is a type of malware that prevents users from accessing their system by encrypting data and then demanding a ransom for the system to be unlocked. Cyber-criminals will then assign a deadline for the ransom to be paid, and if the deadline passes, the ransom payment will be doubled, or the files permanently locked or worse, leaked.
In the above case, Radiohead were ‘smart’ about it and from a reputational point of view they came up with a strategy that would be to their advantage. Some experts believe that Ransomware is more about “manipulating vulnerabilities in human psychology than the adversary’s technological sophistication”. However, ransomware attacks can generate financial and reputational damages that can compromise the stability of organisations.
Ransomware is dangerous, but it doesn’t mean that you can’t recover from it. If you fall victim of an attack, here is what you should do.
Covenco Recovery Services offers bespoke cyber security solutions for organisations of any size across all industry sectors. Our team of experts will assist you in building a cyber security strategy tailored to your organisation’s needs. Get in touch with our team to find out more.