Ransomware in 2021

Ransomware attacks were on the rise in 2020, and all indicators suggest the trend will continue in the new year. Ransomware is a form of malware designed to encrypt files on a device, rendering any files and the systems that rely on them unusable. Malicious actors then demand ransom in exchange for decryption.

The most common methods used to spread ransomware are visiting a compromised website or clicking on a malicious link or attachment in an email. We saw a dramatic increase in ransomware when users went remote in April, but experts expect the number of attacks to continue to grow. Statistically 40% of victims pay the ransom, and criminals used last year to perfect tactics. Basically all metrics tracking ransomware increased dramatically in 2020.

In Q3 of 2020 we saw a 50% increase in ransomware attacks compared to the first six months of the year.

The average cost per incident increased from $5,900 in 2019 to $8,100 in 2020.

The average loss caused by downtime from a ransomware attack increased from $141,000 in 2019 to $283,000 in 2020.

The estimated total cost of ransomware attacks almost doubled year over year increasing from $11.5 billion in 2019 to $20 billion in 2020.

Often, small and medium sized businesses are targeted because many of them do not have the resources to defend against an attack. Small businesses accounted for 43% of all cyber-attacks in 2020, and 70% of small businesses say they are not prepared to deal with a cyber-attack.

Quanexus bridges the IT gap for many small businesses who are not able to keep a high quality, up-to-date IT department on staff. IT Security demands change quickly, and many small to medium sized businesses are not able to keep up on their own.

Quanexus IT Support Services for Dayton and Cincinnati

Request your free network assessment today. There is no hassle, or obligation.

If you would like more information, contact us here or call 937.885.7272.

Follow us on FacebookTwitter and LinkedIn and stay up to date on by subscribing to our email list.

Posted by Charles Wright