Security News > 2021 > January > Ransomware: The rise of Misfortune 500 businesses

Ransomware has become a commodity threat that fosters new tools and technologies; skills and expertise and reputations carrying menacing "Street cred." Unfortunately, technology is sold as a service; skills and expertise are leased across criminal organizations and reputations now ensure victim firms pay six or seven figure ransoms.

According to the CrowdStrike 2020 Global Threat Report, these ransomware gangs earned over $80 million in ransoms.

Their success is based on a business model in which these ransomware developers sell access to their technology through a partnership program that splits profits per attack between the developers and the distributors.

Recently, the SunCrypt and Netwalker ransomware families joined to create a sustained attack on an education institution.

Ransomware gangs are now a massive operational threat.

Pretending ransomware is still a nuisance is ignoring the risk.

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