Our co-founder Marc Grens authored an article for Cyber Defense Magazine. You can view the post in it’s entirety here.

Introduction

Ransomware is a common cybersecurity threat facing a wide variety of industries, from public entities like government agencies and healthcare organizations, where confidential data storage is critical, to financial services and even manufacturing. Worse yet, a federal cybersecurity advisory committee has warned of an increased cybersecurity threat to hospitals even while dealing with the pandemic.

Cryptocurrency Ransomware Attacks: What You Can—and Should—Do

  • Train and educate employees about ransomware and how to avoid it
  • Know that paying the ransom is a last-resort option
  • Hire a reputable cyber incident response firm with technical expertise
  • Prevent financial red-flags in cryptocurrency transactions

The Takeaway: Ransomware Does Not Have to Be the End of Your Company

While it is true that the growing threat of ransomware attacks continues to increase rapidly in the age of the COVID-19 pandemic—and has been spiking at an alarming rate even prior to the pandemic, there are still some relatively simple steps you can take to prevent or minimize the damage to your company. However, if you choose to hire a trusted independent cyber incident response firm, ensure any conflicts of interest are mitigated or fully disclosed.