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upstart writes:

Backups 'no longer effective' for stopping ransomware attacks:

The growth of double extortion – and even triple extortion – ransomware attacks is in danger of rendering common, traditional methods of mitigating the impact of a ransomware hit, such as well-maintained backups, less efficacious, according to a report from machine identity specialist Venafi.

Data collated from Venafi's worldwide survey of IT and security decision-makers reveal that 83% of successful ransomware attacks now involve alternative extortion methods – for example, using stolen data to extort customers (38%), leaking data to the dark web (35%), and informing customers that their data has been compromised (32%). A mere 17% of attacks merely ask for money for a decryption key.

Venafi said that this means that because ransomware attacks now rely on data exfiltration, effective backup strategies are therefore to some extent "no longer effective" for containing a breach.

"Ransomware attacks have become much more dangerous. They have evolved beyond basic security defences and business continuity techniques like next-gen antivirus and backups," said Kevin Bocek, vice-president of business development and threat intelligence at Venafi.

Venafi also found that cyber criminals are increasingly following through on their threats whether or not they get paid. Indeed, 18% of victims had their data leaked despite paying, while more than the 16% who refused outright to pay anything and had their data leaked. Some 8% refused outright, but then had their customers extorted; and 35% paid, but were left hanging, unable to retrieve their data.

Original Submission