12 of the Biggest Ransomware Attacks of 2020

Ransomware is a form of malware which is installed on a victims device or devices with the main objective of seizing and/or locking away sensitive data. As the name suggests in order for a victim to regain access to their data and systems they need to pay a ransom. More often than not, the two options a victim is presented with when they succumb to a ransomware attack is to either rebuild their systems from scratch and potentially have the attacker leak the data online - or pay up.

As such, it’s unsurprising that, in our increasingly digital age with more and more data on the cloud, that the number of attacks and the success of ransomware attacks is on the rise. Approximately 58% of ransomware victims paid in 2020, compared to 39% in 2017.

Ransoms for these kinds of attacks range from a few hundred dollars to thousands or even millions of dollars payable in cryptocurrency such as Bitcoin. In return for the payout, the attackers will release a decryption key allowing the organization to return to business. Certain industries, such as government organizations and hospitals are more susceptible to ransomware attacks due to the nature of the work that they do often being time-sensitive. For example, a ransomware attack crippled a hospital in Germany, leading directly to one patient’s death.  

There are numerous strategies that ransomware attackers employ to gain access to a victims database. One of the most common though is through social engineering tactics, such as phishing emails. Cybercriminals can make these emails look exactly like trustworthy emails from official sources, tricking victims into downloading compromised software onto their device. 

Because of the nature of social engineering tactics, and the evolving cyber threat landscape no organization can ever be fully secure from malware threats. Below we outline 12 of the biggest ransomware attacks that occurred in 2020.

12 Ransomware Attacks that Happened in 2020

1. ISS World 

Estimated cost: $74 million 

In February of 2020 ISS world, a Denmark based company went down due to a ransomware attack. Thousands of employees were left without access to their systems and emails. This cost them an estimated $74 million which includes regaining control of the affected IT systems and re-launching critical business systems. 

2. Cognizant

Estimated cost: $50 million

A ransomware attack on the organization Cognizant in April of 2020 is said to have cost the company over $50 million, potentially as much as $70 million, including legal and consultation costs and data recovery costs, along with the financial loss reflected in their second-quarter earning in 2020.

3. Sopra Steria 

Estimated cost: $50 million

The company Sopra Steria revealed that they were hit by hackers using a new version of the Ryuk ransomware in October.

They estimate that the fallout, including dealing with the various systems that went out of action, is likely to have a gross negative impact on operating margin of between €40 million and €50 million.

4. Redcar and Cleveland Council 

Estimated cost: $14 million

Redcar and Cleveland Council in the UK suffered an attack on their systems in February of 2020 costing the council an estimated $14 million.  The ransomware attack is said to have disrupted the company’s network, tablets, computers, and mobile devices for 3 full weeks. The council announced that in March, that it could take months for a full recovery and estimated the overall costs to be between $14 - $21 million.

5. Software AG

Estimated cost: $20 million

Software AG is the second-largest software vendor in Germany. They were reportedly hit with the Clop ransomware in an attack in October of 2020. The company disclosed that the ransomware attack disrupted a part of its internal network but didn’t affect customer services. The cybercriminal group responsible demanded a $23 million ransom.

7. Travelex

Estimated cost: $2.3 million

It was reported that Travelex the money exchange firm was hit with a file-encrypting malware attack which shut down its internal networks, website and apps for several weeks. Reportedly Travelex paid a ransom of $2.3 million in BTC to the dark actors to regain access to their data and restore services.

8. University of California San Francisco (UCSF)

Estimated cost: $1.14 million

UCSF was targeted by a malware attack which encrypted servers used by the school of medicine impacting students in June of 2020. The ransomware was prevented from travelling to the core UCSF network and causing more damage. The authorities negotiated with the cybercriminals and UCSF ended up paying approximately $1.14 million in ransom of the $3 million demanded. 

9. Shirbit Insurance 

Estimated cost: $1million

After a cyberattack on the Israeli Insurance provider Shirbit in December of 2020 the attackers demanded roughly $1 million in Bitcoin. In order to pressure the company into paying they demanded immediate payment or an increase in the ransom cost, doubling after 24 hours. Additionally, to show they weren’t empty threats they dumped the first 300 records online, again threatening to dump additional records every 24 hours until they received payment.

10. Communications and Power industries 

Estimated cost: $500,000

California-based Communications & Power Industries (CPI) makes components for military devices and equipment, like radar, missile seekers and electronic warfare technology. The company counts the U.S. Department of Defense and its advanced research unit DARPA as customers. Reportedly, CPI paid $500,000 to obtain the decryption key to unlock their servers and return services.

11. Grubman Shire Meiselas & Sacks 

Estimated cost: $365,000

Grubman Shire Meiselas & Sacks is a law firm that specializes in law for those in the media and entertainment industry. Their clients consist of a range of A-list celebrities and, with such high profile individuals on the line, the stakes for them were extremely high. They were targeted and files encrypted by REvil ransomware. The firm agreed to pay an estimated $365,000, however, the attackers started demanding more afterwards and the company has since kept quiet on what it has or is willing to pay.

12. Tillamook County 

Estimated cost: $300,000

Tillamook county in the US was attacked by cyber attackers in January. The attack interrupted their email network, phone systems and website. After exhausting alternative options, they estimated the costs to restore service would cost well over $1 million and take several years and opted instead to pay the $300,000 ransom. 

Keeping your data and organization secure

1. Never click on suspicious links or any links attached in unsolicited emails. 

2. Back up systems and data continuously. Create a separate data-backup in an external hard drive that is not connected to your computer, so that you don’t have to pay the ransom if a ransomware attack happens.

3. Never disclose personal information over the phone or over email. 

4. Educate employees of cybersecurity best practices and social engineering tactics that may be used against them.

5. Limit employee access to sensitive data to reduce attack surfaces.

OSINT Tools and Mitigating Costly Ransomware Attacks

Early warning of data beaches through OSINT tools can help you predict and prevent cyber attacks as well as enable organizations to take mitigating actions faster. While open-source intelligence tools can’t prevent ransomware, they can help organizations reduce the risks and potential damages. 

OSINT tools can be used by organizations to monitor their supply chains, allowing them to learn of potential disruptions in real-time and enabling them to implement contingency plans fast. 

Additionally, organizations can use tools like Signal to monitor for ransomware and malware currently being used. This can help security teams determine emerging threats being used against other organizations in their industry to better inform ongoing cybersecurity best practices.

Ultimately, by using OSINT to monitor darknet forums and market places security professionals are able to learn about the newest strategies being employed, the most recent weaknesses being exploited, and the most current software being utilized. Armed with this knowledge they are much more able to develop effective countermeasures as well as actively prevent ransomware infection.

What is Ransomware and Why Should you Care?

Ransomware is big money and is a rapidly growing cyberattack strategy. The market has expanded massively since the advent of secure and untraceable payment methods such as Bitcoin. Emsisoft estimates that ransomware costs for US organizations in 2019 was in excess of $7.5 billion. Compare this to four years prior when in 2015 ransomware damages totalled around $300 million.

Some markets are particularly prone to ransomware attacks such as medical organizations and public services. And there have been several high profile cases involving these industries over the last few years. Attackers know that with lives literally on the line organizations in these fields are likely to simply pay the ransom to make the problem go away. Most recently Garmin technology company has been held to ransom with attackers using the WastedLocker ransomware seeking a ransom of USD$10 million.

In this article, we explore in detail what ransomware is, how cybercriminals utilize and what strategies organizations can employ to ensure they are protected from ransomware attacks.  

What is Ransomware?

Ransomware is a form of malware. It can take various forms but generally it functions in one of two ways:

• Crypto ransomware. This malware encrypts the files on a computer so that the user cannot access them.

• Locker ransomware. This malware locks the victim out of their device or out of particular files, preventing them from using it. 

One thing all ransomware attacks have in common is that the target won’t be able to regain access to their files unless they pay the attackers a hefty ransom to unlock the files.

Ransomware has grown in popularity over the last few years in the wake of cryptocurrencies which makes it safe to receive their ransom payments. The cost of a ransomware attack can range from a few hundred to thousands of dollars depending on who the target is and how valuable the attackers believe the files they have locked out of reach are. 

Probably the most common delivery system for ransomware is phishing scams. For examples, a virus masquerading as an email attachment can, once downloaded and opened, easily take over a victims computer. Another strategy is through social engineering which is growing in popularity with cybercriminals because of the better strike rate. A recent example of a successful social engineering attack was perpetrated against Twitter employees. Attackers were able to get aways with an estimated 12.85BTC, nearly US$120,000.

The encryption strategy for malware is the more common of the attacks. The result of this attack is that the victim will not be able to decrypt their files without a mathematical key known only to the attacker. The user will be presented with a message when they attempt to open their files saying that their documents are now inaccessible and will only be decrypted if the victim sends an untraceable cryptocurrency payment to the attacker’s wallet.

To encourage prompt payment attackers might masquerade as law enforcement and demand the payment as a fine. If the victim does have illegal or illicit files or programs on their device, such as pornography or pirated software or movies, then they may be more likely to pay without asking questions and without reporting the attack.

12 Ransomware Examples from the Last Decade

Ransomware has been around for decades. However, it was only after the advent of cryptocurrencies that it began being a favoured strategy for cybercriminals. Cryptocurrencies allow for them to collect untraceable completely anonymous payments. Some of the worst offenders have been:

• CryptoLocker is an older malware threat, and while it isn’t in broad circulation anymore during it’s peak it infected some half a million machines. Cryptolocker is a Trojan horse that infects a device computer and then searches the computer as well as additional connected media including; external hardrives, cloud storage, and USB sticks, for files to encrypt. 

• TeslaCrypt is a variation or copycat of CryptoLocker. TeslaCrypt started by using social engineering to infiltrate devices and later used phishing emails as well. It heavily targeted gaming files and saw numerous upgrade improvements during its reign of terror.

• SimpleLocker was another CyrptoLocker styled malware. However, it’s key difference was that it focused it’s targeting on Android devices.

• WannaCry is a ransomware worm. What this means is that it spreads autonomously from computer to computer using EternalBlue, an exploit developed by the NSA and then stolen by hackers.

• NotPetya also used the EternalBlue exploit. It is thought to be part of a Russion-directed cyberattack against the Ukraine. However, it expanded autonomously to infect a broad range of organizations.

• Leakerlocker was first discovered in 2017 and targeted Android devices. Rather than encrypt files, it threatens to share your private data and browsing history unless you pay the ransom.

• WYSIWYE, stands for “What You See Is What You Encrypt”. Discovered in 2017, this ransomware scans the web for open Remote Desktop Protocol (RDP) servers. It then allows for a customized attack with an interface through which it can be configured according to the attacker’s preferences.

• SamSam has been around since 2015 and has affected devices in a number of waves of attacks. It utilizes vulnerabilities in remote desktop protocols (RDP), Java-based web servers, file transfer protocol (FTP) servers or brute force against weak passwords It would then spread to numerous devices. It primarily targeted public services and healthcare effectively bringing entire organizations to halt.

• Ryuk first appeared in 2018. It is specifically used to target enterprise environments. It is often used in combination with other malware like TrickBot for distribution.

• Maze was first discover in 2019. The MAZE ransomware has been used in attacks that combine targeted ransomware use, public exposure of victim data, and an affiliate model. The ransomware was initially distributed via spam emails and exploit kits before later shifting to being deployed post-compromise.

• GandCrab currently holds a large portion of the ransomware market and may well be the most lucrative ransomware ever. Its developers, which sold the program to cybercriminals, claim more than $2 billion in victim payouts as of July 2019.

• Thanos is a Ransomware-as-a-Service (RaaS) operation which allows affiliates to customize their own ransomware through a builder offered by the developer. It was first discovered by security professionals being talked about on a Russian darknet forum. It is the first to use the RIPlace technique, which can bypass many anti-ransomware methods.  

Dealing with Ransomware

Prevention is always the best policy when it comes to dealing with cyber attacks. Using tools such as Signal you can stay up to date with the most common strategies and one step ahead of cybercriminals. However, if you become the victim of a ransomware attack, it is advisable not to pay the ransom. If you do so there is now guarantee that the cybercriminal will return your data, they are thieves after all. Additionally, it fuels the profitability of the ransomware business making future attacks more likely. So what can you do?

Decryption

For many ransomwares, especially the older ones there are decryption tools which have been developed. The first step then is to contact your internet security vendor and determine if decryption is possible. If this initial strategy fails you can visit nomoreransom.org. The No More Ransom site is an industry-wide initiative designed to help all victims of ransomware.

Recovery

It’s good practice to back-up your data regularly on both external hard drives as well as on cloud storage. If you have done this it becomes possible to simply recover the data which is currently being held hostage. There are of course some scenarios where this won’t be possible, for example, if the malicious actor is threatening to share private information rather than having simply encrypted your device.

Preventing Ransomware Attacks

Good security practices will help prevent you from falling victim to ransomware. These defensive steps will additionally help protect you against other generic cyber attacks. 

Four basic steps that every organization should take to mitigate the threat of cyber attacks are:

• Keep all operating systems up to date and patched. Doing this will ensure that there are few potential vulnerabilities that malicious actors can exploit.

• Do not allow a software admin privileges unless you are confident in its safety and know exactly what it is and what it does.

• Ensure you have an active and up to date anti-virus software installed on all devices. This will allow you to detect and block malicious programs like ransomware as they arrive.

• And, as we said in the section above, back up all your files regularly. This last point won’t help protect against ransomware or other malware but can help mitigate the damages that your organization might suffer.

The Role of OSINT in Defending Against Ransomware

While open source intelligence tools can’t prevent ransomware, they can help organizations mitigate the potential damages. 

Securing the supply chain

Supply chains can stretch across continents with potentially hundreds of suppliers and manufacturers all around the world bearing responsibility. Should any single part or resource be in short supply, then assembly lines can be brought to a halt resulting in costly delays at the very least. 

There are numerous threats to the supply chain, one of which is malware and in particular regard to this article, ransomware. A key example of this is when the shipping giant Maersk had their IT systems taken out by a malware NotPetya. This resulted in their IT systems being down for days and many deliveries being delayed despite Herculean logistical efforts by the company. 

Using OSINT tools you can learn whether an organization on your supply chain has been affected by ransomware in real-time which will allow you to take the necessary actions to mitigate the damage this has as their production or logistics is slowed.

Industry Targeting

It’s not unusual for malware to exploit weaknesses which are specific to an industry. For example, the Healthcare industry is particularly susceptible to ransomware as a delay in returning their operations to normal could result in patients deaths. Indeed a leading medical-research institution working on a cure for Covid-19 were forced to pay hackers a $1.14m USD ransom because of a ransomware attack.

Using OSINT tools you can monitor your own specific industry to determine what strategies and exploits are currently being used by cybercriminals against like companies. Determining this will allow you to take extra and specific precautions to fend off similar attacks which could potentially be turned on you.

Detect New Ransomware and Strategies

Cybercriminals are continuously evolving and updating their strategies and the ransomware that go with them. We are unlikely to see the end of this development. 

By using OSINT to monitor darknet forums and market places security professionals are able to learn about the newest strategies being employed, the most recent weaknesses being exploited, and the most current software being utilized. Armed with this knowledge they are much more able to develop effective countermeasures as well as actively prevent ransomware infection.