Ransomware is malicious software that encrypts the victim files and demands payment – typically in cryptocurrency – for the decryption key. Ransomware attacks have grown from a minor nuisance into a multi-billion dollar criminal industry. The average ransomware payment in 2024 exceeded $1.5 million, and that does not include recovery costs, lost productivity, regulatory fines, or reputational damage.
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Book a Free ConsultationWhat is Ransomware?
Ransomware attacks now routinely target healthcare organizations, schools, municipalities, and businesses of all sizes. No organization is too small to be targeted – in fact, attackers specifically target smaller organizations because they typically have weaker defenses than large enterprises.
How Ransomware Attacks Work
Most ransomware attacks follow a predictable pattern: initial access via phishing email or exploited vulnerability, credential theft and lateral movement through the network, exfiltration of sensitive data for double extortion leverage, and finally encryption of files across the network. Modern ransomware operators often spend weeks inside a network before triggering encryption to maximize the impact.
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- Maintain Offline Backups – Keep regular backups disconnected from the network so ransomware cannot encrypt them. Test backup restoration quarterly. Without clean backups, your only options are paying the ransom or rebuilding from scratch.
- Patch Systems Immediately – Ransomware groups exploit known vulnerabilities within days of public disclosure. Deploy patches for critical vulnerabilities within 24-48 hours, particularly for internet-facing systems.
- Deploy EDR on All Endpoints – Modern EDR solutions detect ransomware behavior before encryption begins by monitoring for suspicious file system activity, shadow copy deletion, and abnormal process behavior.
- Implement Network Segmentation – Segment your network so that ransomware cannot spread freely from one compromised system to the entire network. Isolate critical systems like backup servers and domain controllers.
- Require MFA Everywhere – RDP brute-forcing and stolen credentials are among the most common ransomware entry points. MFA stops credential-based attacks cold.
- Disable Unnecessary Services – Disable RDP on internet-facing systems unless absolutely required. If remote access is needed, place it behind a VPN with MFA.
- Train Employees on Phishing – The majority of ransomware enters through phishing emails. Regular simulations and training significantly reduce click rates.
- Have an Incident Response Plan – Know exactly who to call, what to isolate, and how to preserve evidence before an attack happens. Practicing this in advance dramatically reduces recovery time.
What to Do If You Are Hit by Ransomware
If ransomware is detected: isolate affected systems immediately by disconnecting from the network (do not power them off – forensic evidence may be lost), contact your security team or MSSP, preserve logs, and assess what data was accessed before calling law enforcement. Do not pay the ransom without consulting legal counsel and cyber insurance providers first.
CyberPhore provides 24/7 ransomware monitoring and incident response. Our MDR service detects ransomware behavior in its earliest stages and contains affected systems before encryption can spread. Learn about our MDR services or get a free ransomware readiness assessment.
Related reading: Endpoint Protection Guide | Phishing Prevention Guide | Cloud Security Best Practices
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