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| 9 Jul 2024 | |
| General |
Ransomware shows no signs of slowing as 2024 approaches. A report from Corvus Insurance found a 110.43% year-over-year increase in the number of ransomware victims posted on leak sites in November 2023. And threat actors are continuing to explore new ways to make ransomware attacks even more profitable.
In September 2023, the FBI released a private industry notification warning of a growing trend in the ransomware landscape. As of July 2023, it identified a trend of cyber threat actors deploying two or more ransomware variants against the same victim. These dual attacks can compound the consequences for victims: data encryption and exfiltration and financial losses. The FBI also noted that ransomware groups have been upping the pressure on victims since early 2022, leveraging malware, wiper tools, and custom data theft as negotiation tactics.
What can dual ransomware attacks look like, and how can CISOs and their teams reduce the risk of their enterprises becoming victims?
Back-to-Back Attacks
The FBI considers dual ransomware attacks to be attacks against the same victim within 10 days or less, with the majority of these dual attacks taking place within 48 hours of one another, according to the private industry notification.
“I think we're all still trying to figure out exactly the reason why this is happening,” says Margaux Weinraub, cyber practice leader at The Graham Company, an insurance brokerage. These dual attacks are still an emerging trend, and they could be executed in different ways.
