Cyber Attack: #WannaCry Ransomware

ransomeware

The #WannaCry Ransomeware has stalled the world with its simplest form capitalizing  the security holes, just a malicious virus took the internet by surprise creating ripple of cyber attacks all over the world. Recorded as one of the biggest of its type the cyber attack on 12 May, hit Spanish mobile operator Telefonica, followed by hospitals and clinics across the UK, forcing the National Health Service to accept only the most urgent patients has shocked the world.

Taking the world by surprise within in second it spread like fire across the globe Locking down computers encrypting data and files with the  malicious software across almost 100 countries, including Russia and the USA.

What is a RANSOMEWARE ?
A ransomeware is a computer viruses that is designed to lock down your files and threatens to delete your files unless you pay a ransom are known as ransomware. According to security experts warned that ransomware is the fastest growing form of computer virus exploiting a security hole in vulnerable software by tricking somebody into installing it and then taking in control the system.

Ransomware works by encrypting all your data in the computer making it a situation of lock down with a permanent message demanding a payment to release the files blocking access to a computer system or data, WannaCry encrypts data on the device and demands a ransom of USD$300 to be paid to a given bitcoin wallet within three days or USD$600 within seven days. Unlike other viruses however, WannaCry propagates through the network and infects computers like a worm, which means that their users do not have to activate the infected file or link for the software to continue spreading.

Protection Against RANSOMEWARE?
Microsoft has already issued an update for Windows 10 and other system. Till the time
your operating system is up-to-date, you should be protected from this strain of ransomware. Always make sure you are running the latest version of your operating system with the latest security fixes installed – and run up-to-date anti-virus software from a trusted company. Take in consideration email attachments and always beware suspicious emails asking you to click links or download attachments.

What are loss in Figure ?

It is estimated that ransomware-related bitcoin wallets, in 2016, ransomware attacks cost more than USD$1 billion. The numbers are uncertain as many companies will not reveal that their systems have been compromised by ransomware, and accept payments openly. The average ransom demand has more than doubled, from USD$294 at the end of 2015, to USD$679 in 2016. Bitcoin’s open ledger allows anyone interested to trace the payments being made to the criminals in the WannaCry ransomware attack.

According to Microsoft president and chief legal officer Brad Smith said on Sunday: “We have seen vulnerabilities stored by the CIA show up on Wikileaks, and now this vulnerability stolen from the NSA has affected customers around the world.
“An equivalent scenario with conventional weapons would be the US military having some of its Tomahawk missiles stolen.”

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