Cybersecurity is a top concern for businesses and individuals alike in the digital era. No company or person wants any of their sensitive data stolen by malicious hackers. Cybersecurity attacks are on the rise and can be costly for companies, customers, and individuals. Cybercriminals will use whatever resources they can to launch cyberattacks. Reports of hackers leveraging artificial intelligence (AI) are especially concerning. Additionally, cybercriminals are now treating ransomware, a common cybersecurity threat, as a business – it's now an underground industry. to execute cybersecurity attacks Below is more about ransomware-as-a-service (RaaS), how it started, how it works, common RaaS kits, and tips to prevent experiencing a ransomware attack. What Is Ransomware-as-a-Service (RaaS)? First and foremost, it's critical to understand what ransomware is before learning about ransomware-as-a-service. Ransomware is a type of malware that invades a user's device and encrypts data. Encryption is a process that scrambles data until a , often an expensive one. Once a ransom is paid, the hacker may or may not choose to release the encrypted data. company or individual pays a ransom Ransomware attacks are typically executed , such as a phishing email scam. Ransomware often spreads from the first infected device to any other devices connected to the same network, such as servers or databases on a corporate network. with social engineering tactics An emerging business model in the cybercriminal community is ransomware-as-a-service (RaaS). Rather than threat actors creating their own ransomware to execute an attack, they'll sell it on the Dark Web using the software-as-a-service (SaaS) model. In other words, RaaS is a subscription-based model that allows malicious users to use existing ransomware tools. The actor responsible for creating the tool made through a ransomware attack. earns a percentage of the payments RaaS is a variation of SaaS business models, the difference being that the "software" is used for malicious attacks. A Brief History of RaaS Ransomware has evolved in recent years. What started as basic denial-of-data attacks on small companies quickly transformed into more sophisticated attacks targeting large corporations with more financial resources and highly sensitive information. For example, health care companies, financial services organizations, and government agencies are some industries often targeted by malicious actors. Additionally, hackers . Initially, they would require a couple of hundred dollars or a few thousand. Now, it's common for hackers to demand hundreds of thousands or millions of dollars from their victims. began demanding higher ransoms Eventually, cybercriminals realized that instead of creating their own malware and executing attacks, they could market their ransomware tools to other threat actors for profit. Criminals who lack knowledge of ransomware creation and development now benefit from RaaS because these ransomware tools are so easily accessible. As through a RaaS model, the more vulnerable organizations and individuals will be. more hackers access ransomware tools How RaaS Works There are a few steps involved in the RaaS business model: A developer creates a specific ransomware code. Step 1: The ransomware code is sold to affiliates and developers include instructions for the affiliate to follow for attack execution. Step 2: Affiliates select a type of malware, (typically Bitcoin), and launch the attack. Step 3: pay for it with cryptocurrency Once the ransom money is paid, the affiliate and the developer divide the profits. Step 4: Most RaaS arrangements fall into one of the following categories: A small percentage of profits is paid to the RaaS operator who wants to run an efficient RaaS model and increase earnings from ransoms. Affiliate programs: Users pay a flat monthly fee to earn a percentage of every successful ransom attack. Monthly subscription: Predetermined percentages of profits are shared between users and operators through a license purchase. Pure profit sharing: Users make one-time payments without sharing profit, and affiliates have continuous access. One-time license fee: RaaS operators need to be highly skilled to create expertly coded ransomware to appear attractive to potential affiliates. A reputable RaaS developer will have a high chance of attack success and a low probability of discovery. Some RaaS models do not require affiliates to pay, and affiliates can sign up on a commission basis. RaaS will market to affiliates on the Dark Web and, sometimes, even provide the affiliate with a dashboard so they can monitor whether any of their attacks succeed. It's also common for ransomware gangs, , to only recruit advanced affiliates with specific technical expertise to ensure successful attacks. such as Circus Spider Here are some examples of popular RaaS kits: Encryptor Locky Shark Goliath Jokeroo Stampado While this is a shortlist, more RaaS kits are emerging and more malicious actors want to get in on the action. As a result of the increasing number of attacks originating from RaaS, the U.S. Department of Justice (DOJ) created the Ransomware and Digital Extortion Task Force in 2021. The ultimate goal of this task force is to use the DOJ's authority and resources to respond to these cybersecurity concerns and bring cybercriminals to justice. An article from The Verge details some recent and impressive in the months since its introduction. prosecutions the task force has made Tips for Preventing RaaS Attacks The majority of ransomware victims would agree that choosing whether to pay the ransom or not is a challenging decision to make. Experts argue that paying a ransom encourages this type of malicious behavior. In contrast, others suggest paying ransoms to prevent data leaks, protect clients, or return to normal operations. It is worth noting that the Federal Bureau of Investigation (FBI) , especially because hackers may never grant access to the encrypted data stolen from a company. strongly discourages paying a ransom Below are some important tips for RaaS attack prevention: Routinely back up sensitive data as a preventive measure. Keep all software and applications updated with the latest version for enhanced security. Implement a strong cybersecurity infrastructure to fend off hackers. Install antivirus software and secure all endpoints connected to a network. Educate all and hold training sessions to bolster employee knowledge surrounding RaaS and ransomware attacks. employees on best cybersecurity practices Create a culture of data protection. Invest in advanced cybersecurity technologies, consult with a cybersecurity firm to run an audit, and identify areas of improvement in cybersecurity. Companies should consider using the suggestions above to protect their digital assets. With more RaaS models emerging, it's expected that ransomware attacks will grow more frequent and sophisticated. Understand RaaS for Ransomware Prevention Many organizations understand that cybersecurity is no walk in the park. However, it must be a top priority for all companies, regardless of industry. While ransomware is not a new threat, RaaS models are. RaaS is causing the cybersecurity threat landscape to expand. Use the best cybersecurity practices, educate and train employees, and ensure strong security measures are in place to prevent ransomware attacks.

Community Is

Discovery

The Verge

2022 - HackerNoon Contributor of the Year - Cyber Threats

2022 - HackerNoon Contributor of the Year - Data Security

2022 - HackerNoon Contributor of the Year - Hacking

2022 - HackerNoon Contributor of the Year - Media

Nominated for 2022 - HackerNoon Contributor of the Year - Data Security

Nominated for 2022 - HackerNoon Contributor of the Year - Cyber Threats

Nominated for 2022 - HackerNoon Contributor of the Year - Media

Nominated for 2022 - HackerNoon Contributor of the Year - Hacking

Too Long; Didn't Read

Let Your Engineers & PMs focus on Product. Apply for $50K Credits!

How Does Ransomware-as-a-Service Work?

HackerNoon Mobile

How Does Ransomware-as-a-Service Work?

Too Long; Didn't Read

People Mentioned

Companies Mentioned

@zacamos

RELATED STORIES