Ransomware attacks drop 34% in Q2 but experts warn of potential ‘uptick’
July 21, 2022 – Published on VentureBeat
Few cyber threats create as much anxiety among security teams as ransomware attacks. Anxieties over ransomware threats are so high that 74% of IT decision makers actually believe ransomware should be considered a matter of national security, due to the use of double and triple extortion techniques.
However GuidePoint Research and Intelligence Team’s (GRIT) newly released quarterly ransomware threat report, has found that the number of ransomware victims actually decreased 34% in Q2 from Q1.
While this is a welcome reprieve for security teams, the report suggested that the reason for the decrease is the reorganization of the Conti cyber gang and Lockbit’s release of its 3.0 ransomware-as-a-service (RaaS) offering.
As a result, Principal Threat Analyst at GuidePoint Security and ransomware negotiator, Drew Schmitt notes that “this does not appear to be a part of a larger trend of ransomware slowdown as Q3 has began with large upticks in posting rates and four new ransomware groups being added to the ransomware threat landscape.”
In the event that there is an increase in ransomware activity later this year, CISOs need to have a strategy for hardening their organization’s defenses. How this is done will depend on each enterprise’s priority risks, but Schmitt says that the majority of threat groups are exploiting vulnerabilities and misconfigurations that could be prevented through good old fashioned cybersecurity fundamentals.
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