The International Business Times recently ran an article about how some institutions in the United Kingdom, including banks, are stockpiling bitcoin to be prepared to pay ransom in the event they experience a ransomware attack. That’s not a very smart approach. Although some hackers might play fair and release their grip on your network, most can’t be trusted. Just suppose you pay the ransom but they still keep your data. Or the hackers might attack your network with ransomware, or the combination of a ransomware attack coupled with a distributed denial of service (DDoS) attack (RDoS). In that case you’ll not only have suffered downtime or loss of data, you’ll have lost money.
Even if the hackers give you back the keys to your data and network sovereignty, you’ve made a costly mistake, in the long run. Your organization will be more vulnerable than before because those same hackers are more likely to attack you again. After all, they figure it worked the first time, so why not try again? Also, word might spread on the Dark Web that your company (or others like it) was willing to pay the ransom. It’s not a good idea to reward bad behavior. Some organizations are reluctant to report such extortion to watchdog or enforcement agencies, but extortion is criminal, and should be reported. Alas, the world is not ideal, and some organizations would rather negotiate with cyber hackers than report a cybercrime.
Ransomware and DDoS attacks are two of the most common and dangerous cyber threats now facing organizations. Both forms of attack have become more sophisticated. And, it’s important to realize that low-threshold DDoS attacks are frequently launched to disable a firewall or distract IT security teams, which enables hackers to install malware.
Fortunately, DDoS defense technology has also evolved in the past decade, making it possible – and more affordable – to eliminate that threat. Rather than stockpiling bitcoin and reacting to ransom-related attacks, it would make more sense to be proactive by investing in cyber security defenses. One way organizations can do that is by installing DDoS protection hardware that detects and blocks even the smallest of DDoS attacks, 24x7. Another way is to obtain DDoS protection as a service via their hosting or Internet service provider. Either way will give IT security teams comprehensive visibility into network incursions.
Corero has been at the forefront of DDoS solutions for over a decade. To learn more about how you can protect your organization, contact us.