Everything you need to know about ransomcloud

Everything you need to know about ransomcloud

In the Information Age, data is gold. Economies and governments run on the burgeoning flow of information, from sensitive customer account details to proprietary formulations to highly classified military communications. And with more and more companies and agencies moving their valuable data to cloud infrastructures, it’s only natural that cybercriminals target the cloud.

Today, cybercriminals’ tool of choice is ransomcloud. This type of ransomware attack locks out authorized users from their data in the cloud. This can result in unfulfilled eCommerce transactions, costly operational downtime, eroded customer trust and reputation, and painful regulatory fines and penalties.

With more and more companies and agencies moving their valuable data to cloud infrastructures, it’s only natural that cybercriminals target the cloud.

Read on to learn more about the ransomcloud and what you can do to protect your company against it.

How are ransomcloud attacks launched?

Ransomware can infect your cloud data in three ways:

Endpoint-cloud sync

In this method, ransomware first infects an endpoint — i.e., a user’s device, such as a laptop. When the laptop syncs its data with the company’s cloud storage service, the ransomware can spread to your cloud environment and begin encrypting the files you stored there.

To prevent the spread of ransomware, you must ensure that your devices are malware-free before syncing them to the cloud. As such, your employees must install powerful antivirus programs and always keep these up to date. They must also install security patches as soon as these become available.

Learn more about global ransomware trends by downloading Datto’s Annual Global State of the Channel Ransomware Report.

Hijacked cloud access

Another way hackers infiltrate your cloud systems is by obtaining an authorized cloud user’s access credentials through phishing. Once they’re inside your cloud systems, hackers will use ransomware to encrypt your data.

You can avoid this by implementing multifactor authentication (MFA). By requiring your staff to submit additional identity authentication factors like PIN codes or fingerprint scans, hackers who’d only have usernames and passwords at hand won’t be able to access your company’s cloud accounts.

Breach of cloud provider’s defenses

Though cloud service providers (CSPs) boast that they utilize cutting-edge cybersecurity solutions, cybercriminals still find ways to break through those defenses.

In 2019, a ransomware gang was able to infiltrate DDS Safe, a cloud-based medical records storage and backup service provider for dental practices. Because of this, thousands of dentists from across the country couldn’t retrieve their patients’ medical information.

To mitigate the damage of such an attack, make sure that your CSP has the latest cybersecurity defenses in place. They must also help you set up data backup solutions and disaster recovery plans.

Wait, so we can’t rely on our cloud provider’s cybersecurity?

While it is true that CSPs are obligated to keep their clients’ data secure, cloud cybersecurity is a shared responsibility between provider and client. As you’ve seen earlier, not implementing MFA can mean greater exposure to hackers who’d use staff’s stolen access credentials to sneak into your cloud environment.

Additionally, cybersecurity is an arms race where defenders and attackers constantly try to one-up each other. In fact, ransomcloud itself is an escalated version of the typical ransomware attack. Cybercriminals are always trying to find ways to infiltrate treasure troves of data like the cloud, and they may occasionally breach CSPs’ defenses. This means that companies like yours must not totally rely on these defenses, but rather also plan ahead in case you do get locked out of your data in the cloud.

Protecting your company against dangerous cyberthreats is a daunting task, which is why you must seek the help of top-notch managed IT services providers like Healthy IT. Our cybersecurity specialists will work with you and your cloud providers to ensure that you can fully leverage the cloud without worry or concern. Schedule your FREE consultation with us today!