There has been an alarming increase in ransomware attacks over the past year, underscoring the need for organizations to implement around-the-clock monitoring and investigation of cyber threats.
The news (and advice) comes via a new report from Malwarebytes, “ThreatDown 2024 State of Ransomware,” which shows significant shifts in the tactics and strategies employed by cybercriminals. Accordingly, Malwarebytes urges security teams to “be smart” about how they allocate their limited time and resources and be vigilant to changes in the threat landscape.
“The ever-evolving and often escalating threat landscape has meant that many organizations are turning to MSPs and MSSPs to help manage their IT and security,” Brian Kane, senior director of global channel at Malwarebytes, told MSSP Alert. “It is essential that these service organizations stay informed of the latest trends and adapt their offerings so they safeguard their customers against cyber threats and scams."
Kane noted that report analyzes the recent trends in ransomware, including threat actors’ focus on specific industries and their preference for launching attacks in the early hours of the morning.
“I advise MSPs and MSSPs to review these tactics, techniques and procedures against their current cybersecurity posture and practices, both for themselves and for their customers,” said Kane, who oversees the Malwarebytes’ MSP and global distribution business supporting alliances around the world along with more than 6,000 MSP customers.
Key Findings From the Report
The U.S. experienced a dramatic 63% increase in ransomware attacks, with the U.K. seeing an even greater rise of 67%. The share of attacks carried out by gangs outside the top 15 increased from 25% to 31%, indicating that ransomware is becoming more accessible to a broader range of cybercriminals, according to the report.
Malwarebytes notes that while attacks are increasing the barrier to entry for new cybercriminals appears to lowering, attacks are getting faster and stealthier. The good news hidden within the bad is that recent changes in ransomware tactics are a response to organizations improving their defenses. As such, EDR can identify attackers before they launch malware and have pushed ransomware gangs to work more quickly and put more effort into hiding themselves.
Malwarebytes founder and CEO Marcin Kleczynski reminded how ransomware gangs have time and motivation on their side.
“They constantly evolve to respond to the latest technologies chasing at their tails,” Kleczynski said in a statement “We've seen this very distinctly over the past year as widespread adoption of technologies like EDR (endpoint detection & response) has helped identify attackers before they launch malware, pushing ransomware gangs to work more quickly and put more effort into hiding themselves. Organizations and MSPs need additional support and continuous coverage to outmaneuver today's criminals."
Other findings from the report include:
Top 3 Ransomware Trends
The report features insights from Malwarebytes’ ThreatDown MDR team on three key shifts in the tactics and techniques of ransomware gangs:
Malwarebytes Debuts Unified Platform
On August 15, Malwarebytes announced support for ARM-based architecture across its ThreatDown suite of endpoint security solutions. This support allows ThreatDown solution customers and partners to fully leverage the improved power and battery life of Windows ARM devices while maintaining robust cybersecurity defenses, the company ssid.
Additionally, Malwarebytes shared new ThreatDown product enhancements for the channel in July, including:
