On May 2017, the WannaCry global ransomware attack by the WannaCry ransomware cryptoworm shook the cyber world. This attack targeted the computers running the Microsoft Windows operating system by encrypting data and demanding ransom payments in the Bitcoin cryptocurrency. Ransomware attacks are not new. Supposedly introduced as an AIDS Trojan in 1989, Harvard-educated biologist Joseph L. Popp sent 20,000 compromised diskettes named “AIDS Information – Introductory Diskettes” to attendees of the internal AIDS conference organised by the World Health Organisation. The victims of this attack were asked to pay $189 to PC Cyborg Corp. at a mailbox in Panama. From 2005 onwards, hackers and cybercriminals started actively running such scams at unpredictable times.
Engin Kirda and Alina Oprea, professors and experts in cybersecurity, and professors Jeffrey Born and Martin Dias, of the D’Amore-McKim School of Business at the Northeastern University, provided their extensive knowledge on the impacts of such ransomware attacks. Oprea said it is difficult to blame any one person or organisation for such attacks as the cyber world is intricate and complex. However, such attacks, as and when they happen, bring the government and cyber agencies into the spotlight where their post-attack actions and policies regarding cybercrimes are reviewed privately as well as publicly.
Oprea strongly advises organisations to make their cybersecurity stronger. They should try to become more proactive instead of taking actions in the aftermath. Ransomware attacks hurt the financial status of organisations. However, to recover from this and avoid such attacks in the future, most of the businesses are siding towards cloud-based platforms. Although, it is important to note that small businesses are more vulnerable to such attacks and cannot recover for a long period of time as they are less capable in their finances and resources to invest in cybersecurity systems.
Therefore, cybersecurity organisations around the world should put their utmost efforts to find feasible and less expensive resources and capital to avoid such ransomware attacks.
Dibyasha Das