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Ransomware Evolves, Security Tries to Keep Pace

A closer look at how this threat continues to grow, and how it impacted one of its latest victims: Jack Daniel's.

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Bloomberg recently reported that U.S. liquor giant Brown-Forman, the owner of Jack Daniel’s whiskey, had been victim to a ransomware attack. Unfortunately, Brown-Forman is not alone. The 2019 Official Annual Cybercrime Report by Cybersecurity Ventures states that another business falls victim to ransomware every 14 seconds. 

Ransomware is a type of malware that prevents users from accessing their system or files and demands ransom payment to regain access. According to Bloomberg, when Brown-Forman’s network was infiltrated, hackers stole more than one terabyte of data, including potentially sensitive data. The U.S. liquor corporation is just one of the victims of ransomware. 

For manufacturers, kidnapped data could be information obtained from operational technology like pumps, compressors and motors. Sounds relatively harmless, doesn’t it? But, even in the manufacturing realm, it could also be valuable customer data that is lost, leading to serious data breaches if released. Moreover, there is no guarantee that paying the ransom will result in victims  regaining access to their devices and data, which is why prevention remains the best strategy.

The first ransomware attack dates to 1989. Thankfully, it failed due to a severe design flaw. The decryption key was extracted from the code of the trojan that delivered the attack, so victims didn’t need to pay any kind of ransom. However, this example set the stage for the more complex attacks we see today. 

Back in 2013, the CryptoLocker gang made ransomware a very profitable affair, and is believed the group extorted more than $3 million from their victims. The technique was simple: criminals targeted millions of victims in parallel, making the likelihood of success higher. Typically, these attacks targeted students, who would pay to get their dissertations back. 

Criminals soon realized they could maximize their profits by targeting entire networks — including large-scale organisations. Instead of attacking thousands of individual computers for a few hundred dollars each, they could target a single company for tens of thousands of dollars. 

While the lucrative nature of cyber-attacks against industries like banking and finance are obvious, the threat of ransomware isn’t spoken about as much in the manufacturing realm. That said, the risk is just as high.