Ransomware
USA Today reported that 77 countries have been victims of a widespread hacker extortion ring. Europe’s police agency, Europol, has reported that 99 countries were hit by this cyber security breach. Whatever the number, a recent string of cyber-attacks have touched over 150 countries in the past thirty days alone, and global attacks are expected to continue taking down hospitals, public services and businesses.
This recent series of cyber blackmail attacks involves a new form of crime that’s rapidly on the rise. Cyber blackmailers use a malicious form of software called ransomware, which blocks access to data and demands ransom to unlock the encrypted data. The most recent attack demanded payment in bitcoins, a widely used cryptocurrency.
The “WannaCry” ransomware attack has also created friction between businesses and governments. Governments are asking companies to be more vigilant with their cybersecurity, and companies are asking why governments aren’t sharing information about known vulnerabilities. The ensuing chasm between governments and the public opens up increased advantages to hackers. Security at PBT remains our top priority, but sharing beneficial information should be increasingly important.
