Cyber Security in 120 Secs: If Ransomware Was a Serial Killer

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   This week Locky ransomware has come back from being dormant      with serial killer attributes;   NotPetya is taking a toll on many companies such as Maersk that admit the cost could be up to $300M; Gartner's forecasts $93B in information security for 2018


Highlighting the cyber-security news from the past week in a 120 sec. read. Starting now.

Locky Ransomware

New variants have been seen creating a flurry of “Locky ransomware is back” headlines.

Why is this significant?

          • The new variant Lukitus extension was discovered this week by researchers and Diablo6 was discovered last week. Currently, there is not a way to decrypt the Lukitus variant.

        • In 2016, Locky debuted with an attack that forced companies back to pen and paper. The biggest claim to fame for Locky was knocking the Hollywood Presbyterian Hospital offline for 10 days, until the demanded amount of $17,000 was paid to the hackers.

          • If ransomware was a serial killer, Locky would be in the running. The variants having Greek mythology origins; the timing of these new strands is a year to date with the 2016 publications; the return of Necurs botnet distribution; the unexplained reason of why it goes dormant; the enticing spam campaigns that make users want to open.

**//enSilo protects and detects both strands of Locky ransomware//**

Read the full story in ZD Net


Cost of NotPetya

The cost of NotPetya is beginning to add up and shipping giant, Maersk admits it could cost $300M

Why is this significant?

          • Only time will tell the true cost to companies as a result of NotPetya hitting due to the many factors such as company downtime and data being wiped from their servers.
          • “Business volumes were negatively affected for a couple of weeks in July and as a consequence, our Q3 results will be impacted. We expect the cyber-attack will impact results negatively by USD 200-300m.”   The revenue hit could be up to $100M.
          • Initially, NotPetya was detected as ransomware, it’s hidden agenda was soon revealed and compared to Stuxnet as a cyber weapon to destruct. There was also not a true killswitch.

Read the full story in InfoSecurity


Gartner Forecasts 

Gartner predicts companies could reach $93B in spending for information security in 2018.Currently, Gartner’s forecasts worldwide spending for information security products and services will reach $86.4B by the end of 2017.

Why is this significant?

          • There are critics that state this report is too conservative with the rapid rate of the threat landscape changing and the obvious security gaps that exist in security mechanisms.
          • WannaCry and NotPetya are examples of how severe security threats can bypass current security mechanisms that fail to detect.  Stale information security solutions are outdated and are set up to fail against ever-changing malware such as, Locky Ransomware.
          • There are highly sophisticated modern threats that are flooding the threat landscape and detection is failing. Breaking the old cybersecurity mold that is outdated and getting bypassed daily is needed to protect data.  It is time to think differently about how companies are protecting data.


**//enSilo’s comprehensive endpoint solution detects 17x’s more malware, has the ability to automate alerts in real-time, blocks with pre-infection and post-infection detection //**

Read the latest forecast in Gartner


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