Malware Cryptocurrency Ransoms Increased By Nearly 90%
Malware crypto ransoms have been a huge issue in the crypto space since time immemorial. Apparently, the average digital currency payout when it comes to ransomware attacks increased significantly in the first quarter of this year. Here is everything about it in a nutshell.
Increased In Malware Ransoms
According to the official report, the data is courtesy of Coveware, which is a company that helps victims pay ransoms. In the fourth quarter last year, the average ransom was believed to be around $6,733. This figure rose by about 89 percent, reaching $12,672 just in the first three months of this year.
There is definitely a rapid hike in digital currency demand. Interestingly, this is due to the seemingly increasing prevalence of more expensive strains of malware. Basically, this malware is capable of encrypting a victim’s files. And for the user to be able to unlock it, he/she must process a payment via cryptocurrency. Some of these expensive ransomeware include the likes of Bitpaymer, Lencrypt, and Ryuk.
Coveware said in the report that these types of ransomware are often utilized when it comes to bespoke targeted attacks, with an aim of targeting much larger enterprises.
The Most Prevalent One
The most prevalent of these types of ransomware is none other than the Ryuk ransomware. In the first quarter, both Dharma and Crysis took hold of their places, which are first and second, respectively. As per the data, they are highlighted to be in leading positions in the market share. Ryuk, on the other hand, is not lagging behind – it finishes third.
Apparently, though, Ryuk appears to have the most notable change among all of those in the top positions. That is because it never appeared in the top three ranks as far as the previous quarters are concerned. This only shows that Ryuk is becoming a significant element, one that is actually targeting larger organizations when compared with other variants.
Even more so, Ryuk is the only ransomware that is said to be demanding far higher ransoms. For instance, Dharma will only require a company to pay at least $9,742 as the average ransom. But Ryuk, this is only a little portion of its ransom – and that is reportedly a whopping ransom demand of $286,556 on an average. There is no doubt that Bitcoin will continue to be the most popular crypto demanded by entities fond of deploying ransomware.