- November 22, 2017
- Posted by: Defend Wise
- Category: Cyber Security
In October 2017 several companies in Russia and the Ukraine were the target of a cyber attack known as ‘Bad Rabbit’; which is a malicious software designed to encrypt and lock files on computer hardware until a sum of money is paid for their release. Its affects were widespread across both of the countries, causing everything from fight delays to subway system disruptions.
Unlike many other malware attacks such as WannaCry and NotPetya, Bad Rabbit does not spread via email. In the eastern European Bad Rabbit attack, the cyber criminals compromised news and media websites and redirected victims to a malicious landing page. Victims were then requested to install an update which allowed the malware to download onto their computer, consequently locking all of their files. The criminals then demanded a considerable ransom of bitcoin to reverse the damage.
A recent IBM survey found that 70% of businesses that had been targeted by a cyber attack had paid the ransom demanded, and that the sum varied anywhere from $10,000 – $40,000 USD. However, paying attackers does not guarantee that access will be granted and businesses that are affected by attacks such as Bad Rabbit are advised not to pay ransoms.
The Bad Rabbit attack is indicative of a trend of companywide cyber breaches and was likely meant to cause disruption rather than garner financial gain. The attack highlights that all companies are vulnerable and, despite their protection, are at risk. The most effective way to protect your business from these pervasive breaches is to establish a sound response plan.
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