Ransomware attacks are a growing threat to organizations of all sizes and industries. In this article, let’s discuss ransomware attack meaning and steps to take when your company falls victim to such an attack. During such attacks, swift and decisive action is crucial to minimize damage and ensure business continuity. Here are the immediate steps your company’s leadership and Chief Information Security Officer (CISO) should take:
Ransomware Attack Meaning
A Ransomware Attack is a type of cyberattack in which malicious software, or malware, encrypts a victim’s data and demands a ransom payment to restore access. The attackers typically threaten to publish, destroy, or permanently block access to the data if the ransom isn’t paid. Ransomware attacks can target individuals, businesses, and even critical infrastructure, causing significant disruption and financial loss.
Ransomware Attack Examples
Till October 2024, so far, ransomware.live reported overall 4790 ransomware victims for the year 2024, while the total victim count stands at 2849 for 2022 and 5539 in 2023 (See Figure 1). LockBit ransomware has been consistently the Top ransomware so far in 2024 with over 530 victims and 11.1% victim share till date (See Figure 2) followed by RansomHub ransomware. AlphV/BlackCat, BlackBasta, Cl0p, Dispossessor, etc. are some of the top ransomware of 2024. Some of the most recent ransomware attacks that created a huge impact are attacks on CDK Global, First American, Schneider Electric, Change healthcare, etc.
Ransomware Attack Response Steps
1. Activate Your Incident Response Plan
The first step is to activate your company’s incident response plan. This plan should outline the roles and responsibilities of key personnel, communication protocols, and steps to contain and mitigate the attack. Ensure that all relevant teams, including IT, security, legal, and communications, are promptly informed and mobilized.
2. Isolate Affected Systems
To prevent the ransomware from spreading further, immediately isolate affected systems from the network. Disconnect infected devices from the internet, disable Wi-Fi and Bluetooth, and unplug ethernet cables. If possible, take the entire network offline at the switch level. This containment step is critical to limit the impact of the attack.
3. Document the Attack
Take detailed notes and photographs of any ransom notes or messages displayed on affected devices. This documentation will be valuable for forensic analysis, law enforcement, and potential insurance claims. Ensure that all evidence is preserved in its original state.
4. Notify Relevant Authorities
Report the ransomware attack to law enforcement agencies, such as the FBI or local police, as well as relevant regulatory bodies. This step is essential for legal compliance and may aid in the investigation and potential recovery of data.
5. Engage Cybersecurity Experts
Consult with cybersecurity experts or a third-party incident response team to assist in the investigation and remediation process. These professionals can provide specialized knowledge and resources to help contain the attack and recover affected systems.
6. Assess the Scope of the Attack
Determine the extent of the ransomware infection by identifying which systems and data have been compromised. Prioritize critical systems and data for restoration, focusing on those essential for daily operations, revenue generation, and public safety.
7. Restore from Backups
If your company has offline backups, restore affected systems from these backups. Ensure that backups are clean and free from ransomware before initiating the restoration process. If backups are unavailable or compromised, consider alternative recovery methods, such as decryption tools or negotiating with the attackers.
8. Communicate with Stakeholders
Keep internal and external stakeholders informed about the situation and the steps being taken to address the attack. Transparency and timely communication can help maintain trust and manage expectations during the recovery process.
9. Implement Enhanced Security Measures
After containing the attack and restoring systems, implement enhanced security measures to prevent future incidents. This may include updating antivirus software, applying security patches, enabling multi-factor authentication, and conducting regular security audits.
10. Lessons Learned
Conduct a post-incident review to identify lessons learned and areas for improvement. Update your incident response plan based on these insights to ensure better preparedness for future attacks. Learn from this experience by strengthening security measures across all devices and educating everyone involved about safe browsing practices and recognizing potential phishing attempts which often serve as gateways for ransomware attacks like Hunters International Ransomware.
A ransomware attack can be a daunting challenge, but with a well-prepared incident response plan and swift action, your company can navigate the crisis and emerge stronger. By following these steps, your leadership and CISO can effectively manage the immediate response, minimize damage, and protect your organization’s critical assets. See “How to Prevent Ransomware Attacks in 2024?” to learn more about ransomware prevention and response best practices.
For cybersecurity news and updates, follow us on Cybersecurity – The SOC Labs.
Disclaimer: This report is based on internal and external research obtained through various means. The information provided is for reference purposes only, and users bear full responsibility for their reliance on it. The SOC Labs assumes no liability for the accuracy or consequences of using this information.
Discover more from The SOC Labs
Subscribe to get the latest posts sent to your email.