The WannaCry ransomware, which infected 200,000 business globally and made over $100,000 in ransom payments, is said to be one of the worst cyber attacks in history. However, a new ransomware strain named Nyetya is shaping up to be a more formidable security threat. It has already affected businesses globally, and security firms and researchers believe it to be stealthier and more sophisticated than WannaCry.

Worse than WannaCry

Nyetya is deemed worse than WannaCry mainly because it spreads laterally, meaning it targets computers within networks and affects even systems that have been patched. Because it also spreads internally, it needs to infect only one device to affect several others within a single network.

Cyber researchers trace its origins to a tax accounting software called MEDoc, which infected 12,500 systems in Ukraine. Since the initial infections in June, it has spread to thousands of networks in 64 countries. And although it hasn’t spread as fast as WannaCry, it might have a wider reach soon because it uses three attack pathways to infect a system. It hasn’t made as much money as WannaCry, which is why cyber researchers are concluding that the attacks are not economically motivated.

Don’t pay the ransom

Cyber security firms and researchers strongly recommend affected businesses to avoid paying the ransom. According to them, paying the ransom would be a waste since the infected user won’t be able to receive a decryption key to unlock their files or systems. This is because the email provider has blocked the email address on the ransomware message.

Although it operates like a ransomware — locking hard drives and files and demands a $300 ransom in Bitcoin — it functions more as a wiperware that aims to permanently wipe out data and/or destroy systems. So far, it has affected big-name multinationals in various industries, including Merck, Mondelez International, and AP Moller-Maersk, among others.

Perform backups and update outdated security patches

The only way businesses can be protected is by performing backups and staying on top of patch updates.

It’s safe to say that in case of a Nyetya attack, there’s no chance of getting back your data. In such a scenario, you would have only your backup files — whether on an external storage or in the cloud — to fall back on. But backing up is not enough; you should also ensure that your backups are working, which you can do by testing them regularly. Given the nature of Nyetya, you should also make sure that your backups are stored off-site and disconnected from your network.

Like its predecessor, Nyetya exploited vulnerabilities in unpatched Microsoft-run computers. As a business owner, make it a part of your cyber security routine to update your systems with the latest security patches, or risk having your files or systems permanently corrupted.

As a business owner whose operations’ lifeline depends on critical files, your backups are your insurance. If your systems’ network security needs another layer of protection, get in touch with us today.

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No one can escape the news of WannaCry. The IT industry has been covering this type of malware for years, but never has one campaign spread so far or infected so many computers. Read on to gain a greater understanding of what happened and how to prepare yourself for the inevitable copy cats.

Ransomware review

Ransomware is a specific type of malware program that either encrypts or steals valuable data and threatens to erase it or release it publicly unless a ransom is paid. We’ve been writing about this terrifying threat for years, but the true genesis of ransomware dates all the way back to 1989.

This form of digital extortion has enjoyed peaks and troughs in popularity since then, but never has it been as dangerous as it is now. In 2015, the FBI reported a huge spike in the popularity of ransomware, and healthcare providers became common targets because of the private and time-sensitive nature of their hosted data.

The trend got even worse, and by the end of 2016 ransomware had become a $1 billion-a-year industry.

The WannaCry ransomware

Although the vast majority of ransomware programs rely on convincing users to click compromised links in emails, the WannaCry version seems to have spread via more technical security gaps. It’s still too early to be sure, but the security experts at Malwarebytes Labs believe that the reports of WannaCry being transmitted through phishing emails is simply a matter of confusion. Thousands of other ransomware versions are spread through spam email every day and distinguishing them can be difficult.

By combining a Windows vulnerability recently leaked from the National Security Agency’s cyber arsenal and some simple programming to hunt down servers that interact with public networks, WannaCry spread itself further than any malware campaign has in the last 15 years.

Despite infecting more than 200,000 computers in at least 150 countries, the cyberattackers have only made a fraction of what you would expect. Victims must pay the ransom in Bitcoins, a totally untraceable currency traded online. Inherent to the Bitcoin platform is a public ledger, meaning anyone can see that WannaCry’s coffers have collected a measly 1% of its victims payments.

How to protect yourself for what comes next

Part of the reason this ransomware failed to scare users into paying up is because it was so poorly made. Within a day of its release, the self-propagating portion of its programming was brought to a halt by an individual unsure of why it included a 42-character URL that led to an unregistered domain. Once he registered the web address for himself, WannaCry stopped spreading.

Unfortunately, that doesn’t help the thousands that were already infected. And it definitely doesn’t give you an excuse to ignore what cybersecurity experts are saying, “This is only the beginning.” WannaCry was so poorly written, it’s amazing it made it as far as it did. And considering it would’ve made hundreds of millions of dollars if it was created by more capable programmers, your organization needs to prepare for the next global cyberattack.

Every single day it should be your goal to complete the following:

• Thorough reviews of reports from basic perimeter security solutions. Antivirus software, hardware firewalls, and intrusion prevention systems log hundreds of amateur attempts on your network security every day; critical vulnerabilities can be gleaned from these documents.
• Check for updates and security patches for every single piece of software in your office, from accounting apps to operating systems. Computers with the latest updates from Microsoft were totally safe from WannaCry, which should be motivation to never again click “Remind me later.”
• Social engineering and phishing may not have been factors this time around, but training employees to recognize suspicious links is a surefire strategy for avoiding the thousands of other malware strains that threaten your business.

Revisiting these strategies every single day may seem a bit much, but we’ve been in the industry long enough to know that it takes only one mistake to bring your operations to a halt. For daily monitoring and support, plus industry-leading cybersecurity advice, call us today.

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Both businesses and individuals across dozens of countries are scrambling to fix their computer systems after a ransomware, named WannaCry, caused major disruptions earlier this month. Like most ransomware, WannaCry encrypts files and demands a Bitcoin payment for their release. What’s worse, more WannaCry variants will likely be developed in the near future, according to security researchers. Fortunately, there are some common strategies you can use to mitigate the damage of the ransomware.

Update your software
The first (and probably best) defense against WannaCry ransomware is to update your operating system. New research from Kaspersky shows that machines running Windows XP, 7 and outdated Windows 10 versions were affected by the ransomware. To check whether your systems are up to date, open your Windows search bar, look for Windows Update, click Check for Updates, and install any major updates.

Also, don’t forget to download the latest security patches for your business applications and security software.

Run security programs
Many antivirus programs now have mechanisms for detecting and blocking WannaCry malware; so when you’ve fully updated your security software, run a full system scan.

Keep in mind that antivirus isn’t a foolproof security solution. Instead, run it alongside other security applications like intrusion prevention systems and firewalls.

Use data backup and recovery tools
If WannaCry does infect your computers, only a solid data backup and recovery solution can save your business. Before ransomware strikes, periodically back up your files in both an external hard drive and a cloud-based backup service.

External hard drives will serve as your local backup solution for quick recovery times. However, we recommend keeping the external drive disconnected when it’s not being used and plugging it in only when you need to back up files at the end of the day. This is because when ransomware infects a computer, it will usually look to encrypt local backup drives as well.

Cloud-based backups, on the other hand, allow you to store files in remote data centers and access them from any internet-enabled device. When selecting a cloud services provider, make sure they provide the appropriate cloud protections to your files. For example, your backup vendor should provide reporting tools to keep track of any anomalies in your files. Document versioning features are also important. This allows you to recover older versions of a document in case the current version is encrypted.

After your local and cloud backups are set up, perform regular tests to ensure your disaster recovery plan works.

Stay informed
Finally, it’s important to stay on guard at all times. WannaCry is just one of many ransomware strains affecting businesses today, and in order to stay safe you need to be constantly up to date on the latest cybersecurity- and business continuity-related news.

For more ransomware prevention tips and services, call us today. We’ll make sure hackers don’t hold your business hostage.

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