Recently the South Korean web hosting company Nayana paid just over $1 Million U.S. worth of Bitcoin to settle a ransom demand and gain access to encrypted data. The original demand was for $4.4 Million worth of Bitcoin.
Interestingly, the variant that hit the South Korean hosting company known as Erebus was originally designed to infect Windows Operating Systems, but someone modified it to infect and work on Linux Servers.
While the servers of Nayana looked to be unpatched due to the exploit of a well-known vulnerability, this is defiantly a warning to any sizable business that ransomware will be a major threat. I also believe this successful windfall of a cash payment will increase the threat matrix exponentially.
While the threats against municipalities, hospitals, and schools will likely continue to climb due to their being easy targets. We will now see once again the threat increase among the financial, tech, and other major companies.
It’s time to take major steps to prevent becoming a victim to these attacks. Especially if you are in a sector mentioned above.
Here are some steps to take immediately:
- Update and patch your systems.
- Backup all CRITICAL data
- Complete a Risk Assessment/Cyber Threat Analysis
- Put Security Policies, Controls, and Protocols in place
- Increase your cybersecurity posture
- Educate employees on cybersecurity
- Run an exercise on what you will do when breached or hit with ransomware
While the above is not meant to be a complete cybersecurity implementation, it is a good starting point. You may also want to initiate a scan to determine if you are already impacted and do not know it yet.
If you need additional help – feel free to contact me.
Don’t be the next company to pay $1 Million Dollars.